Articles

Greek Government and its Creditors: Market Update



Economy

On Monday, European finance ministers are due to decide whether to increase the ESM to €500 billion and, in particular, to define the Greek aid package, depending on the outcome of negotiations between the Greek Government and its creditors. Much is at stake. (A) No agreement is reached: default is on the cards;
(B) agreement is reached but private sector involvement is less than 90%: either the Greek Government forces the remaining 10% to participate, triggering CDS contracts, the risks of which are not clearly defined, or the EU and the IMF have to increase their aid to compensate, but it will be hard to reach a new European consensus. It also remains to be seen how the ECB’s holdings of Greek debt will be dealt with. This week: Richmond, Kansas, Chicago Fed, a Fed meeting (announcements on interest rate and employment targets?) and the European summit.


Upcoming Events

31st May 2012
SIX - ConventionPoint, Zurich

PIP Investor Zurich


For the 5th consecutive year the PIP Investor Zurich Conference 2012 will feature contributions from senior investment specialists and major allocators, analysing current behaviour across financial markets. As downgrades and politics continue to implicate the growing concerns in Europe, we evaluate to what extent will the impact of inflationary pressure have on global bond and commodity portfolios?

With unprecedented volatility in equity markets, are traditional investment techniques still appropriate for institutional investors and does diversifying a portfolio really work in today’s financial markets? Our experts will evaluate whether the Swiss franc is likely to get stronger and what lessons have hedge fund managers learnt from the previous crisis? All this and more from this year’s PIP Investor Zurich conference.
Alongside the main conference will feature a host of interactive workshops, dedicated exclusively to a number of timely investment strategies across a series of asset classes.

25th September
SIX - ConventionPoint, Zurich

Zurich ETF Seminar


Global ETPs delivered total AUM growth of $191.1bn so far in 2012 driven by $66.0bn of inflows and $125.1bn of favourable market and exchange rate movements. Fixed income was the top asset gathering category for the year with $25.5bn or 39% of total net new assets. North America Equity attracted $21.6bn YTD or 33% of total ETP inflows. Europe equity ETPs relinquished ($5.9bn) YTD concentrated in April outflows from German DAX products.*

This ETF seminar will provide a dedicated and educational platform, offering professionals a concise and timely insight into the latest themes and topics concerning the ETF landscape.

As the industry continues to evolve, professional investors are challenged with new themes concerning the ETF landscape. The seminar will elaborate on topics concerning ETF product innovation, optimum strategies for portfolio implementation, due diligence of ETPs, as well as looking at regulatory developments by ESMA.