2016-03-01 倒霉事 Risk News

2016/3/1 posted in  倒霉事

共同基金需要流动性改革

Liquidity Liberation for Mutual Funds

GARP

现在金融市场一个焦虑的趋势就是逐渐趋紧的流动性问题。新的银行监管的规定使得银行的债券交易正在减缓,这也是流动性趋紧的一个原因之一。
A trending anxiety in the financial world is the alleged decline of secondary market bond liquidity. The evolution of banking regulation — in a manner that discourages the banks’ bond dealing activity — is a plausible explanation for the falling liquidity.

如果其他的变量不变,越少的交易员必然导致越少的流动性。但是监管机构和相应的决策机构还是决定提高对于这些持有债券的股东的相应警示信息,这样以现在的债券市场的流动性根本没办法满足
All else equal, fewer dealers imply lower liquidity. But regulators and commentators have also raised the alarming prospect that shareholders in bond mutual funds may stage runs on the funds that current bond market liquidity cannot support.

流氓交易员:尼克李森转变为风控咨询师

Rogue Trader Leeson Turns Risk Adviser

GARP

尼克李森,一个在1995年巴林银行倒闭后在新加坡监狱带过4年的人,最近在渴望获得新生。他经历了癌症治疗,写过两本自传“Rogue Trader” 和 “Back from the Brink: Coping with Stress”,进行过演讲,获得了哲学学位,是一个爱尔兰的足球俱乐部经理,最近他又开始进行新的事业。在一家都柏林的银行破产咨询公司当合伙人。

Nick Leeson, the rogue trader who spent four years in a Singapore jail after taking down Barings in 1995, has since shown a penchant for reinvention. He overcame a cancer diagnosis; recounted his experiences in two books (“Rogue Trader” and “Back from the Brink: Coping with Stress”) and on the speaking circuit; earned a psychology degree; was CEO of a soccer club in Ireland, where he now resides; and was briefly a partner in a Dublin-based bankruptcy advisory firm.

中国2月官方制造业PMI 49.0 创2011年11月以来新低

华尔街见闻

中国2月官方制造业PMI 49.0,创2011年11月以来新低,且连续第7个月低于荣枯线。预期为49.4,前值为49.4。同时公布的2月官方非制造业PMI录得52.7,前值53.5。