Friday, December 31, 2010

DailyMarkets.com - The Shadow Banking System: A Third Of All The Wealth In The World Is Held In Offshore Banks

DailyMarkets.com - The Shadow Banking System: A Third Of All The Wealth In The World Is Held In Offshore Banks

The Shadow Banking System: A Third Of All The Wealth In The World Is Held In Offshore Banks

Posted: 31 Dec 2010 03:35 AM PST

You and I live in a totally different world than the ultra-rich and the international banking elite do.  Many of them live in a world where they simply do not pay income taxes.  Today, it is estimated that a third of all the wealth in the world is held in offshore banks.  So why is so much of the wealth of the globe located in places such as Monaco, the Cayman Islands, Bermuda, the Bahamas, and the Isle of Man?  It isn’t because those are fun places to visit.  It is to avoid taxes.  … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up During The European Session

Posted: 31 Dec 2010 03:05 AM PST

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Friday.

AUD/USD was trading at 1.0179, up 0.08% at time of writing.

The pair was likely to find support at 0.9988, Monday's low, and resistance at 1.0198, Thursday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.50% to hit 1.3135 and AUD/JPY falling 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Up During The European Session

Posted: 31 Dec 2010 02:20 AM PST

Forex Pros – The U.S. Dollar was higher against the Swiss Franc on Friday.

USD/CHF was trading at 0.9370, up 0.26% at time of writing.

The pair was likely to find support at 0.9337, today's low, and resistance at 0.9646, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.55% to hit 1.3362 and USD/JPY falling 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Johnny-come-lately Investors Switching From Bonds To Equities

Posted: 31 Dec 2010 02:01 AM PST

Positive sentiment in the week through December 21 resulted in investors reversing course, with U.S. equities regaining favor and bonds experiencing selling pressure.
After an eight-month period of withdrawals from U.S. equity mutual funds, investors channeled $335 million into domestic equity funds, according to estimates from the Investment Company Institute. Prior to this inflow, a total of $90 billion was liquidated from these funds since the flash crash of May.
Inflows into foreign equity … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Achuthan On The Oulook For The U.S. Economy

Posted: 31 Dec 2010 02:00 AM PST

Lakshman Achuthan, managing director of Economic Cycle Research Institute, talks about the outlook for the U.S. economy and employment in 2011. Achuthan, speaking with Bloomberg's Melissa Long, also discusses Fed policy.
Click here or on the image below to view the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Be Mindful Of Santa Claus Rally And Other Year-end/new-year Indicators

Posted: 31 Dec 2010 01:56 AM PST

If Santa has not yet made his way to your investment portfolio, don't despair. According to Jeffrey Hirsch (Stock Trader's Almanac), the "Santa Claus Rally" normally occurs during the last five trading days of a year and the ensuing first two trading sessions of the new year. During this seven-day period stocks historically tend to advance (by 1.5% on average since 1950), but when recording a loss, they frequently trade much lower in the new year.
With four of the seven sessions behind … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Roach: Housing Still In The Weeds

Posted: 31 Dec 2010 01:55 AM PST

In the interview below, Morgan Stanley's Stephen Roach breaks down why low homebuyer demand is keeping him bearish on its recovery.
In the meantime, Peter Schiff of Euro Pacific Capital yesterday published an op-ed article in The Wall Street Journal, saying: "If we assume the bubble was artificial, we can instead imagine that home prices should have followed a more traditional path during that time. In stock-market terms, prices should have followed a trend line. When you do these … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Interview Du Jour: Face To Face With John Maynard Keynes

Posted: 31 Dec 2010 01:51 AM PST

Paul Mason, BBC Newsnight's Economics Editor, managed to track Keynes down and produced the delightful interview below as reported by BBC.
I didn't recognise him at first because of the jumper: it was more like a duffle coat knitted with red-gold-and-green wool. But you couldn't mistake that wide smile, that febrile top lip, those limpid eyes.
He'd been wandering around Bloomsbury for days unchallenged, popping into the occupations at UCL, the Slade, King's and the LSE to deliver … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Year, New Strategy? Asks Ed Yardeni

Posted: 31 Dec 2010 01:45 AM PST

Discussing how to approach investing in the new year, with Edward Yardeni of Yardeni … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Financial Blog Wars

Posted: 31 Dec 2010 01:41 AM PST

Josh Brown, writer of The Reformed Broker blog, this year again compiled a table of financial bloggers. Investment Postcards received the honor of being included in the Big Picture category.
Josh commented as follows: "First, some caveats – I tried to include all the blogs I keep up with at least semi-regularly.  There may be some newer or less frequently updated blogs that aren't here – please no hard feelings if we missed you, there's always next year.  I also didn't … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The 10 Economic Factors In The World Outlook For 2011 – And The 3 Dominos

Posted: 31 Dec 2010 01:36 AM PST

Apart from geo-political risk-taking coming to a head around the 28th March, there are a number of negative headwinds building in the international economy, particularly in the United States and Europe. Despite bullish sentiment currently in ascendance in the stock markets, it is clear to many economists that the world is in for a turbulent time in 2011.
Of course, there is no one-to-one correlation between the economy and the stock market, and they tend to do their own thing for extended … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down During The European Session

Posted: 31 Dec 2010 01:30 AM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Friday.

USD/JPY was trading at 81.41, down 0.14% at time of writing.

The pair was likely to find support at 81.29, today's low, and resistance at 82.98, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.47% to hit 1.3353 and GBP/USD rising 0.29% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

China Aims To Internationalize Currency

Posted: 31 Dec 2010 01:28 AM PST

Ronald Arculli, chairman of the Hong Kong exchanges, discusses the internationalization of the Chinese … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Laugh Out Loud: Ringing In 2011 …

Posted: 31 Dec 2010 01:27 AM PST

Forex – EUR/USD Up During The European Session

Posted: 31 Dec 2010 12:55 AM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3343, up 0.40% at time of writing.

The pair was likely to find support at 1.3079, Monday's low, and resistance at 1.3386, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.03% to hit 0.8618 and EUR/JPY rising 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up During The European Session

Posted: 31 Dec 2010 12:10 AM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Friday.

GBP/USD was trading at 1.5496, up 0.44% at time of writing.

The pair was likely to find support at 1.5346, Tuesday's low, and resistance at 1.5536, Thursday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.09% to hit 0.8624 and GBP/JPY rising 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Momentum Stock: Korn/Ferry International

Posted: 30 Dec 2010 11:05 PM PST

Korn/Ferry International (NYSE:KFY) looks like a serious momentum player. Its share price just jumped to a 2-year high as companies begin to hire out of the recession. With another good quarter in the bag and a bullish growth projection, this Zacks #1 rank stock clears the momentum interview.
What Do They Do?
Korn/Ferry is sort of a hybrid company, half talent agency and half executive recruiting services. The company has been around since 1969 and has a market cap of just over $1 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session

Posted: 30 Dec 2010 10:21 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3323, up 0.25% at time of writing.

The pair was likely to find support at 1.3079, Monday's low, and resistance at 1.3323, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.12% to hit 0.8626 and EUR/JPY rising 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up During The Asian Session

Posted: 30 Dec 2010 09:25 PM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Friday.

GBP/USD was trading at 1.5439, up 0.08% at time of writing.

The pair was likely to find support at 1.5346, Tuesday's low, and resistance at 1.5536, Thursday's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.05% to hit 0.8612 and GBP/JPY rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Up During The Asian Session

Posted: 30 Dec 2010 08:50 PM PST

Forex Pros – The U.S. Dollar was higher against the Swiss Franc on Friday.

USD/CHF was trading at 0.9383, up 0.40% at time of writing.

The pair was likely to find support at 0.9341, today's low, and resistance at 0.9646, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.04% to hit 1.3296 and USD/JPY falling 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Down During The Asian Session

Posted: 30 Dec 2010 08:20 PM PST

Forex Pros – The Euro was lower against the British Pound on Friday.

EUR/GBP was trading at 0.8612, down 0.05% at time of writing.

The pair was likely to find support at 0.8486, Monday's low, and resistance at 0.8634, Thursday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.05% to hit 1.3296 and EUR/JPY rising 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Declines On Profit Taking, Gold Pauses But New Records May Be Around The Corner

Posted: 30 Dec 2010 08:00 PM PST

Commodities – Energy
Crude Oil Declines on Profit Taking
Crude Oil (WTI) – $91.17 // $0.05 // 0.05%
Commentary: Crude oil fell $1.28, or 1.4%, to settle at $89.84 despite a plunge in petroleum inventories. Traders decided to take profits after a remarkable run that saw most crude benchmarks approach the mid-$90's. Remember that WTI is an anomaly, discounted due to a glut at Cushing, which is the land-locked NYMEX delivery point. Other benchmarks such as UK Brent and US LLS reached almost … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Inventory Watch: U.S. Inventories Plunge As Demand Soars

Posted: 30 Dec 2010 07:51 PM PST

Inventories
The Department of Energy reported that in the week ending December 24th, 2010, U.S. crude oil inventories decreased by 1.3 million barrels, gasoline inventories decreased by 2.3 million barrels, distillate inventories increased by 0.2 million barrels, and total petroleum inventories decreased by 9.1 million barrels.

After a brief pause last week, the total petroleum surplus resumed its downward trend. Stocks are now 56.2, or 5.5%, above the 5-year average, down from 6% last week. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down During The Asian Session

Posted: 30 Dec 2010 07:40 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Friday.

USD/JPY was trading at 81.51, down 0.01% at time of writing.

The pair was likely to find support at 81.29, Thursday's low, and resistance at 82.98, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.05% to hit 1.3296 and GBP/USD rising 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Up During The Asian Session

Posted: 30 Dec 2010 07:10 PM PST

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Friday.

USD/CAD was trading at 1.0002, up 0.01% at time of writing.

The pair was likely to find support at 0.9975, Wednesday's low, and resistance at 1.0111, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.06% to hit 1.3298 and GBP/USD rising 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Singapore Stock Market Update For Friday 31 December

Posted: 30 Dec 2010 06:37 PM PST

Morning Highlights

Singapore market started positively, with STI opened at 3214.41.  Please note that market will be shut for the afternoon session today.

Singapore November bank lending up 1.7% from October

News Updates:

Shares of Singapore-listed fabric maker China Gaoxian rose as much as 5% on Friday to its record high after it said it hoped to price its Korea depository receipts (KDR) at a premium to its Singapore stock price.

Quick Picks: Here is a quick pick screen that we … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down During The Asian Session

Posted: 30 Dec 2010 06:30 PM PST

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Friday.

AUD/USD was trading at 1.0170, down 0.01% at time of writing.

The pair was likely to find support at 0.9988, Monday's low, and resistance at 1.0198, Thursday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.08% to hit 1.3079 and AUD/JPY falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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