Posts from Thursday Sep 5 2013

The Closer

FURTHER FURTHER READING

- New robots designed to collaborate with humans. Read more

Gold, paper, scissors, lizard, e-money

Miles Kimball, economics professor at the University of Michigan who blogs at Confessions of a Supply-Side Liberal, is fast becoming the poster child for the movement to introduce an e-money solution to overcome the ZLB problem.

He’s not the first to have raised or promoted the idea, but he’s doing a very fine job at spreading the word on account of his objective reasoning. Read more

London’s extraordinary lead in FX

The following is not for distribution in the United States

The triennial central bank survey of foreign exchange and derivatives market activity from the BIS is out.

FX details are here and OTC IR derivatives are here. Oh, and the Bank of England’s parochial summary is here.

But if you are interested in how financial centres stack up against each other you’ll need to consult this table: (Click to enlarge)

 Read more

The pictorial Indian FX swap

As announced amid Raghuram Rajan’s ‘big bang’ on Wednesday — BofAML reckon that this could bring in $10bn for the Indian central bank from non-resident deposits and stabilise the rupee:

 Read more

Does any one ever read securitisation docs? M’lud asks

We missed this speech by Lord Hope, the former Deputy President of the UK Supreme Court, last week. Shame.

It covers the plight of Rangers Football Club, the Insolvency Act 1986; why legal textbook writers don’t have to be dead before you can cite them any more; and the implications of the court’s May decision in the Eurosail case — one of the most important judgments for securitisation law in years. Read more

Markets Live: Thursday, 5th September, 2013

Live markets commentary from FT.com 

The (early) Lunch Wrap

US new car sales back to pre-crisis pace / Dutch offer to renegotiate tax treaties / Facebook in fresh privacy fight / Eurogroup plans bailout exit support for Ireland Read more

Further reading

Elsewhere on Thursday,

- MPesa theft is rampant in Kenya.

- The smart watch is here.

- The Riksbank is wrong about the debt. Read more

The 6am London Cut

Asian stocks mixed || EM currencies stronger || BoJ holds, economic view optimistic || US Treasury set to approve Smithfield Foods’ acquistion by Shuanghui || Lloyd’s of London warns systemic problems’ loom in insurance || Microsoft wins landmark patent case against Google Motorola unit || Rajan takes helm of RBI today || ETFs ‘godfather’ to leave KCG Read more