Posts tagged 'RoRo'

Risk goes on, Risk goes off

David joined the FT in 2011 as a Marjorie Deane fellow. He covered emerging markets, equities and currencies before making the jump over to FT Alphaville in May 2012.

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| May 15 17:23 | Comment |

Deutsche Bank’s Stuart Parkinson and Rineesh Bansal kick off their tale of RoRo on a controversial subject: where did the phrase risk-on/ risk-off originate. We’ve had some outlandish claims sent our way in the past.

A colleague who shall remain nameless once claimed he had invented RoRo (and the question mark) but we feel there is a ring of truth to the suggestion that a company called Riskmetrics, originally a JP Morgan project born to gauge the level of risk being run by the firm, actually has the dubious honour. Read more

Dispatches from the RoooRooo zone?

Izabella Kaminska joined FT Alphaville in October 2008. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP's internal magazine.

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| Apr 12 20:57 | Comment |

From Capital Economics on Friday:

At the time of writing (Friday afternoon in the UK), equity and commodity prices and government bond yields are all falling sharply. This appears to be in response to weaker-than-anticipated US data on retail sales and consumer confidence (discussed further below). If so, this is probably an overreaction, as the figures were hardly disastrous. The falls in the prices of riskier assets may also have been exaggerated by week-end position squaring after the Bank of Japan-inspired rally in the previous days.

Nonetheless, most of these moves are consistent with our long-held view that a disappointing global recovery will cause the equity market rally to run out of steam, the prices of industrial commodities to fall further (with Brent crude in particular heading back below $100) and 10-year US Treasury yields to dip to 1.5% or so by year-end. The pick-up in market volatility more generally is something that we had been anticipating too.

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A blinking red light

David joined the FT in 2011 as a Marjorie Deane fellow. He covered emerging markets, equities and currencies before making the jump over to FT Alphaville in May 2012.

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| Feb 21 15:52 | Comment |

That’s Citi’s risk-warning signals beginning to spike over the past couple of weeks and especially over the last day or two. From Citi’s Steven Englander: Read more

The great rotation: Not so great, and not even really a rotation

Kate is FT AV’s Asia Correspondent. She joined FT Alphaville in mid-2011 after carrying out various roles in the FT’s London office since 2005: interactive editor, companies reporter, and founding editor of the FT’s Energy Source blog.

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| Feb 05 12:14 | Comment |

The ‘great rotation’ from bonds into equities: a few weeks ago it was looking like it might be seriously on. Even Albert Edwards sort of kind of said equities were cheap. And Ray Dalio said it is happening, too.

But there are a bunch of reasons why it doesn’t seem to be quite such a sure thing, at least for now. Read more

Bye, bye RoRo

David joined the FT in 2011 as a Marjorie Deane fellow. He covered emerging markets, equities and currencies before making the jump over to FT Alphaville in May 2012.

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| Jan 28 13:30 | Comment |

For US dollar pairs at least…

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The negative rate bluff

Izabella Kaminska joined FT Alphaville in October 2008. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP's internal magazine.

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| Jan 11 09:59 | Comment |

Negative rates, as we’ve discussed before, are a funny thing.

On the one hand they can send an immensely powerful message. On the other hand they have the power to seriously and dangerously disrupt core economic mechanisms by magnifying the physical hoarding incentive — this helps to create a negative feedback loop that ultimately crowds out capital and leads to voluntary capital destruction. Read more