Latest Posts

  • Random Country Report: Part 2 - Egypt

    Jun 27, 2008 / 12:32pm / in Africa, Fundamental, General, Interest Rates, News Releases, Forex News

    The markets are closed, Wall-E is opening in theatres, and by now most people have at least a foot out the door for the weekend. After writing all week about the USD, the Fed, and about how I am a better forecaster of market movements than my colleague John, I have decided to do the second piece in the Random Country Report Series. Excluding Antarctica and its rather inactive central bank (please see below), the continent with the least amount of coverage in the world of foreign exchange is Africa.

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  • Meet the World’s Best Performing Stock Market: Pakistan

    Apr 2, 2008 / 9:31am / in Africa, Americas, Asia, Emerging Markets, Equities, General, International Investing

    Today's WSJ has the story. The other surprise here is the large equity decline in China and India:

    ...the only booming stock markets are those in the most emerging of emerging markets: Pakistan, Peru, and Chile. Those stocks markets have risen, respectively, 9.5%, 7.1%, and 6.6% this year, according to data provided to Deal Journal by FactSet Research Systems. Taiwan, it should be noted, posted a 7.5% rise for the first quarter.

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  • Buy Palladium - Sell GM

    Feb 7, 2008 / 7:38am / in Africa, Americas, Commodities, General, International Investing

    Electricity supply problems in South Africa are exacerbating supply problems for this precious white metal. Great news for those long Palladium, but awful news for GM and the other auto manufactures:

    The platinum and palladium mines are shuttering in, fearful of sending miners miles under-ground and at the mercy of "load shed" power supplies. This problem is not going to go away soon... perhaps not for years.

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  • Emerging Market Equities Hit Record High

    Sep 24, 2007 / 11:20am / in Africa, Asia, Emerging Markets, Equities, General, International Investing

    From the FT:

    The Morgan Stanley Capital International Asia-Pacific ex-Japan index struck a record high as both Hong Kong and Sydney climbed to new peaks and Singapore closed at its best level for two months.

    The MSCI emerging market equity index also broke into uncharted territory as it recouped all the losses incurred during the credit squeeze in July and August. Shares in India, China and Brazil all touched new records.

    Emerging Record High 9-24-07

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  • Diamond Index

    Jun 22, 2007 / 10:21am / in Africa, Commodities, General, International Investing

    FT reports on this long over-due instrument:

    Investors who fear that high diamond prices may not be forever will soon have help at hand.

    Bankers and diamond experts are to launch two initiatives in the coming days to create the world’s first derivatives contracts linked to diamond prices.

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  • July Crude Oil Futures Hit September 2006 High

    Jun 19, 2007 / 8:45am / in Africa, Commodities, General, Oil, International Investing

    From the Boston Globe:

    Crude oil in New York approached $70 a barrel for the first time since September after Nigerian unions planned a strike this week, threatening supplies from Africa's biggest oil producer.

    Crude Headlines 6-19-07

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  • The Best Performing Stock Exchange of 2007

    Apr 11, 2007 / 12:33pm / in Africa, Emerging Markets, Equities, General, International Investing

    Is.....Zimbabwe! The Daily Reckoning explains this purely monetary phenomena:

    The Zimbabwe Stock Exchange (the ZSE) is the best performing stock exchange in the world, with the key Zimbabwe Industrials Index up some 595% since the beginning of the year and 12,000% over twelve months. This jump in share prices is far in excess of increases in consumer prices. While the country is crumbling, the Zimbabwean share speculator is keeping up much better than the typical Zimbabwean on the street.

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  • Landmark Ghana Debt Issue to Take Place This Year

    Mar 21, 2007 / 10:43am / in Africa, Emerging Markets, Fixed Income, General, International Investing

    Is this the start of the PC bond market? The pitch should focus on the social good the money will buy - at B+ no one will be bragging about the finances:

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  • Looking deeper than the numbers in South Africa

    Sep 22, 2006 / 11:30am / in Africa, Forex News

    ZAR/USDSouth Africa's current account deficit number came in at a deficit of 6.1% of GDP in the second quarter of 2006. Although it is contracting, as last quarter was 6.4%, the bigger picture is still bearish for the South African rand.

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  • Zimbabwe issues new currency

    Aug 22, 2006 / 10:03am / in Africa, Forex News

    With hyperinflation in Zimbabwe, the Reserve Bank of Zimbabwe was forced to devalue the Zimbabwe dollar. Three zeros are being cut off the country's banknotes, and August 21st was the last day to turn in the old currency. Many problems arose as people could only cash in 5 billion Zimbabwe dollars (~$200 value). The rest of the money was confiscated. Because of this, the past week citizens went on a spending spree buying anything of tangible value. Fuel prices doubled. For more information, take a look at the article below.

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