Lagarde’s ‘heavy words’ hint at long plateau for rates
The European Central Bank is most likely done hiking interest rates, analysts said following the decision in Frankfurt to raise its three benchmark eurozone interest rates by 25 basis points. Euro bond markets rallied while the euro fell against the dollar amid expectations that eurozone rates now have peaked and that any subsequent move in market interest rates will be a cut, although that may take some time.
Changing tides in Japan: markets brace for policy shift
Market participants are bracing for an unexpected — and for a long time, unthinkable — interest rate hike by the Bank of Japan (BoJ). In an interview on Saturday, BoJ Governor Kazuo Ueda indicated that he is considering raising rates “provided wages and prices continue to rise sustainably.”
Schroders: $65 billion in apparel export earnings at risk
Schroders: $65 billion in apparel export earnings at risk due to extreme heat and flooding
Gender parity in fund management hits a wall
In a significant blow to the push for gender equality within the asset management sector, Citywire’s Alpha Female Report for 2023 shows almost no progress in the representation of female fund managers over the past year.
Faster, smarter, greener: AI can rebuild ETFs from scratch
Artificial intelligence could change the way ETFs are assembled. Why would an investor opt for traditional index trackers when they can be customized? Newcomers see opportunities, but the establishment remains skeptical.
Europe braces for high-stake interest rate showdown
The upcoming meeting of the European Central Bank (ECB) promises to be one of the most consequential in recent times, underlining the difficult trade-offs the institution must consider amidst an environment of high inflation and stalling economic growth. Analysts and market watchers are sharply divided on what course of action the Governing Council will take on Thursday, making this meeting especially fraught with uncertainty.
Arendt’s Pierre Wauthier returns to PwC Luxembourg
PwC Luxembourg is enhancing its real estate capabilities with the addition of new partner Pierre Wauthier, a veteran with over two decades of experience in Luxembourg’s real estate and deal markets. Wauthier joins the firm after three years at law firm Arendt & Medernach, which had joined in 2020 after nine years at PwC.
Why taking a contrarian view works for investing in Asia and emerging markets
It might seem confusing to buy assets that are out of favour, while selling those that are popular. But if you want to get value out of what you buy, it helps to take a contrarian approach.
Swiss financial supervisor chief quits amid bank turmoil
Urban Angehrn, CEO of the Swiss Financial Market Supervisory Authority (Finma), is stepping down at the end of September, citing health issues linked to job-related stress. Deputy Director Birgit Rutishauser will become the interim director starting Oct. 1, according to a statement from the agency.
Efama slams EU cyber standards as disproportional
European fund and asset management association Efama has raised significant concerns over the proposed regulatory technical standards and implementing technical standards for the Digital Operational Resilience Act, the cybersecurity plan known as Dora, criticising the measures as excessively broad and disproportionate. Efama, whose Luxembourg member is Alfi, the Association of the Luxembourg Fund Industry, argues that a “one size fits all” approach will be inordinately burdensome, particularly for asset management companies.