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News and Insights

19 Mar 2015

FED creates conditions for slow-motion monetary tightening

The US Federal Reserve (Fed) dropped the ''patient'' forward guidance language, clearing the way for tightening rates later this year. However, Fed Chair Janet Yellen suggested the Fed is in no hurry, and that the pace of tightening would be slower than previously anticipated.

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17 Mar 2015

Is the Fed about to lose its "patience"?

Notwithstanding some soft economic data recently, we believe the US Federal Reserve (Fed) is paving the ground for its first interest rate rise since 2006.

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05 Mar 2015

Macro Insight - US dollar strength: a welcome long term guest?

The US dollar has strengthened on the back of increasingly divergent global growth rates; these create policy implications.

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27 Feb 2015

Update on Money Market Fund Reform in Europe

HSBC provides a short overview on the recent announcement from the European Parliament’s Committee.

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05 Feb 2015

PBoC cut RRR amid capital outflows, weak growth and disinflation

The People’s Bank of China (PBoC) cut the reserve requirement ratio (RRR) by 50bp for all financial institutions, a move likely in response to capital outflows, weak growth momentum and disinflationary pressures.

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23 Jan 2015

The European Central Bank (ECB) announces sovereign bond QE

The ECB belatedly joined the US, UK and Japanese central banks in announcing that it will buy government bonds in an attempt to boost economic momentum and prevent deflation from becoming entrenched.

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05 Dec 2014

Investment Outlook - To 2015 and beyond

2014 has seen a number of themes affecting money market and liquidity funds. This article will review the events of this year, and then take a look at how these events will continue to dominate many agendas in 2015, as well as give a view of what else the coming year could have in store.

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05 Dec 2014

A Measured Response to Regulatory Change

Over the past few years, the financial media have been dominated by headlines forewarning significant changes to treasurers’ short-term investment practices as a result of regulatory change.

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24 Nov 2014

Global Investment Event - China's surprise interest rate cut

China’s rate cut should help at the margin and more easing is likely. The People's Bank of China surprised markets by cutting interest rates and pushing ahead with interest rate liberalization by raising the deposit rate ceiling.

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28 Oct 2014

Global Investment Event - Brazil Second Round Elections

After the Presidential elections, the policy roadmap for Brazil will be key. On Sunday, Brazilians re-elected President Dilma Rousseff (of the Workers' Party) to a second four-year mandate. She received 54.5 million votes (51.6 per cent).

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07 Oct 2014

Global Investment Event - Brazil First Round Elections

Brazilian presidential elections to be decided in a second round vote between Rousseff and Neves. In the first round of presidential elections, incumbent President Dilma Rousseff of the PT party received 41.6 per cent of votes (43.3 million votes).

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01 Oct 2014

Corporate World - Cash is king so invest it wisely

Cash is the jewel in the business balance sheet crown and must be invested effectively. Treasurers face many complexities when developing and applying cash investment policies and should challenge their banks to provide maximum support.

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04 Sep 2014

Global Investment Event - ECB eases monetary policy

At its September meeting, the European Central Bank (ECB) eased monetary policy further by cutting all three main interest rates by 10bp; and announcing the beginning of an asset-backed securities (ABS) and covered bond purchase programme in October.

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01 Sep 2014

Treasury Today - Liquidity Investment Horizons - Money Market Fund reform: keeping your eye on the ball

As the regulatory authorities in the US announce potentially far-reaching reforms of the money market fund sector, their European counterparts are yet to unveil their intentions. Asset managers may be the key to optimising investments in a two-tier MMF industry.

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22 Aug 2014

Treasury Management International - Money Market Funds Around the Globe - A ‘League Table’ of Market Features

For multinational businesses that are generating cash balances in many parts of the world, where cash mobility may be limited, investment strategies can no longer be restricted to the home market.

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24 Jul 2014

SEC announces the new ruling for 2a-7 MMFs

After four years of consultation on further reform of US 2a-7 MMFs, the SEC has announced its new ruling after a 3-2 vote in favour of the regulation by the SEC Commissioners.

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11 Jul 2014

Indian budget: fiscal consolidation with a focus on investment

India’s newly elected Modi government presented its FY 2015 Union Budget, outlining fiscal consolidation plans and economic growth strategies.

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15 Jun 2014

Treasury Management International - A Global View of Cash Investment

In this article Nick and Hugo discuss the factors shaping the cash environment both Globally and Regionally and the growth of MMF use in developing markets such as China, India and Latin America

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10 Jun 2014

Yield in a low rate environment

Following on from the recent decision taken by the European Central Bank (ECB) to reduce rates into negative territory, we asked our Liquidity CIO for EMEA, Olivier Gayno to explain what this means.

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06 Jun 2014

The ECB cuts deposit rate into negative territory and takes a step towards QE

Yesterday, European Central Bank (ECB) president Mario Draghi announced a three pronged package of measures with the aim of stopping disinflation in the Eurozone becoming outright deflation.

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14 May 2014

The Treasurer's Global Guide to Investing Cash 2014

The Guide provides a comprehensive overview of the professional investment of corporate cash, describing the content and context of the development of investment policy, the factors that impact investment decision making, and the different money market and other investment instruments available in different countries around the world.

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