All Currency articles – Page 11
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NewsSwiss AHV’s FX hedge prevents CHF1bn loss
Selective currency hedging saved Swiss first pillar fund from major losses in the wake of SNB decision
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NewsUK Coal scheme lodges legal complaint over Towers Watson advice
Trustee body for industry-wide fund alleges ‘negligent’ investment advice led to multi-million loss on currency hedge
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NewsSwiss pension funds cautious of 'captive' relationship with local banks
Schemes increasingly aware they must not be seen as captive clients of country’s largest banks
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Features
Asset Allocation Fixed Income, Rates, Currencies: The big picture
When the Fed embarked upon its first round of quantitative easing five years ago, there were fears of an inflation time bomb. The Fed has already purchased its last lot of Treasuries under QE3, but is still executing regular MBS purchases, as forward inflation expectations in the US and Europe are as low as they have been for years.
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Special Report
Special Report - Emerging Markets: Fed up with volatility
The Federal Reserve-sparked ‘taper tantrum’ of 2013 revealed how sensitive emerging market currencies could be to interest rates set in the developed world. Caroline Saunders asks whether that volatility told us more about investor sentiment than fiscal fundamentals
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Features
Asset Allocation: The big picture
There is an uncomfortable sense that many market outlooks and forecasts are too sanguine about future risks and the course of US interest rates. Some asset classes are already being severely buffeted.
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Features
Dollar storm ends 10-year FX calm
A full decade of range-bound trade in the dollar has dulled pension investors’ sense of the risks of currency exposure. As Christopher O’Dea reports, all that’s about to change
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Special Report
Currency Management: Taming the FX volatility dragons
Even before the money set aside to pay back the US’s debts threatened to run out at the end of October
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Special Report
Currency Management: Keep your FX hedge options
The environment since 2008 makes the case for dynamic hedging.
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Special Report
Currency Management: Side effects of short duration
The key active currency strategies of carry and momentum come into their own in a rising-interest-rate environment with greater dispersion of interest rate differentials.
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Special Report
Currency Management: Keep calm and carry on?
Consultants hope that a healthy volatility is returning to FX markets to lure back pension funds, writes Angela Henshall. But does the strategy debate still need to move on?
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Special Report
Currency Management: Below the volatility surface
Lorenzo Naranjo and Carmen Stefanescu discuss the value of extracting foreign exchange rate expectations from FX option prices
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Special Report
Currency Management: Minding the pennies and cents
Pension funds are learning that currency costs need to be managed, writes Gerry O’Kane
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Special Report
Currency Management: Yen and now
Through the 1990s and most of the 2000s the Japanese yen funded a host of the world’s most lucrative carry trades. Daniel Ben-Ami examines whether recent fixes mean that the euro has already shuffled off its role as ‘the yen for the 2010s’
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Special ReportCurrency Management: Still overpaying for FX?
An agency approach to FX execution promises substantial savings. Lloyd Raynor suggests that it is time to give this area more attention
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Special Report
Currency Management: More than one way to play the renminbi
Theory and history suggest that China’s currency should appreciate along with its economic growth. But Charlotte Moore finds investors looking for other routes besides the fast-growing ‘dim-sum’ market
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Special Report
Currency: The world rebalances
Do not be surprised when today’s immense macroeconomic stresses find an outlet in global currency markets, writes Anthony Harrington. And if you can, ready yourself to take advantage
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Special Report
Currency: The FX of turbulence
Currency alpha management is not only well-suited to turbulent markets, argues Jay Moore. It also responds well to stress testing against extreme scenarios
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Special Report
Currency: The future (or not) of the euro
A strategically-placed relative has left Neil Record with the lowdown on how the euro crisis is perceived at the top table of European politics. Here’s what he learned
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Special Report
Currency: Riding the ‘Redback’
China’s renminbi is set to become one of the world’s major reserve currencies. Philip Poole anticipates more supply of RMB-denominated bonds to foreign investors to fuel that project O
