Author: Colin Henderson

Progress in era of productivity
Uncategorized

China Services Activity Surges

Colin Henderson

… in Sign of Economic Recovery After Covid – Bloomberg Link Private survey on services activity adds to strengthening momentum Source: Caixin/S&P Global, China Federation of Logistics and Purchasing Strong services readings indicate “consumption remains solid and will continue to take the driving seat for the economic recovery,” said Zhou Hao, chief economist at Guotai Junan International Holdings. The country’s economic rebound has shown encouraging signs in recent weeks, with official gauges of activity gathering pace and home sales rising in March for a second month. Key now to the growth outlook this year is whether household and business confidence … Continue reading China Services Activity Surges

Uncategorized

Deloitte UK – Sentiment among CFOs has improved significantly since the start of the year

Colin Henderson

“The economic unpredictability that marked the beginning of 2023 has started to clear, with CFOs reporting the largest decline in perceptions of uncertainty to date. Business confidence has rebounded, helped by a decrease in energy prices, an easing of Brexit concerns and an improving inflation backdrop. Crucially, finance leaders report little change in credit conditions, suggesting that March’s events in the global banking system have not affected the pricing and availability of credit for UK corporates. Despite a brighter outlook, CFOs are alive to the continued risks facing the economy. Corporates remain in defensive mode and CFO risk appetite is … Continue reading Deloitte UK – Sentiment among CFOs has improved significantly since the start of the year

Uncategorized

It’s looking a bit lonely for US on the “right side of history” – Summers

Colin Henderson

My Conclusion (full conclusion at the foot) While America worries about Taiwan and computer chips, China is waging economic efforts to replace the legacy institutions set up by the West after WW2 (1940’s). Analysis Larry Summers speaks out while attending this weeks IMF annual meeting. He goes straight to the mandate and actions of the IMF and World Bank. They were set up to operate the Bretton Woods agreements of 1944 designed to establish for the first time a world wide monetary order. Summers point is to suggest the mandate of IMF, World Bank and UN is increasingly losing relevance … Continue reading It’s looking a bit lonely for US on the “right side of history” – Summers

Uncategorized

Fintech and the Future of Finance : Market and Policy Implications

Colin Henderson

An interesting discussion document and worth checking out because it addresses many aspects of Fintech and digitisation generally for Banks and regulators. World Bank paper The eight (8) papers included. It is comprised of several papers and the introduction to the first “overview” paper including their conceptual framework. This is worth studying and expect more to come. Overview paper – #1 of 8. 1.1 About the Fintech and the Future of Finance Flagship Report Digital transformation is re-shaping the market outcomes of the financial services industry. Fintech supports growth and poverty alleviation by strengthening financial development, inclusion, and efficiency and … Continue reading Fintech and the Future of Finance : Market and Policy Implications

Uncategorized

Bank of Canada Holds and Pushes Back Against Rate-Cut Bets

Colin Henderson

The Bank of Canada left interest rates unchanged for a second straight meeting and pushed back against market expectations for a cut later this year. Bloomberg Policymakers led by Governor Tiff Macklem held the overnight lending rate at 4.5% on Wednesday, in line with the expectations in a Bloomberg survey of economists. Central bankers upgraded their outlook and said recent data are “reinforcing” their confidence that inflation pressures will abate, while keeping the door open to additional hikes should the economy surprise to the upside. “Governing Council continues to assess whether monetary policy is sufficiently restrictive to relieve price pressures … Continue reading Bank of Canada Holds and Pushes Back Against Rate-Cut Bets

Uncategorized

Chinese spies buying citizenship to third countries and slipping into UK

Colin Henderson

MI5 warns ministers about espionage threat as government departments at odds over visa rules This is relevant to banks for account opening and diligence for KYC and AML. The Times story is on UK but it is timely and relevant to Canada where the Government kicked off an investigation on Chinese disinformation and election interference. Chinese spies buying citizenship to third countries and slipping into UK There are fears that Russia could follow China’s lead to get its spies into the country. James Cleverly, the foreign secretary, has gained the nickname “Mr Softy” The National Crime Agency has also presented … Continue reading Chinese spies buying citizenship to third countries and slipping into UK

Uncategorized

IMF predict tougher recovery for world economy

Colin Henderson

The Global Financial Stability Report is issued usually annually. This issue has the sub text: Safeguarding Financial Stability amid High Inflation and Geopolitical Risk It is a long report and available at IMF. Here is the FT view. The IMF has warned of a “hard landing” for the global economy if persistently troublesome inflation keeps interest rates higher for longer and amplifies financial risks. On to the report. The beginning of IMF Executive Summary is reproduced here. It summarises at a high level although it leaves out some important aspects in particular the financial mismanagement of the failed banks; a … Continue reading IMF predict tougher recovery for world economy

Uncategorized

BlackRock latest Geopolitical Risk dashboard

Colin Henderson

Selected extracts from BlackRock Geopolitical dashboard. I would lean toward this dashboard as only contributing to a change in world order. Nonetheless a good report and worth signing up for. BLACKROCK INVESTMENT INSTITUTE Geopolitical risk dashboard February 2023 | A new world order is taking shape. The Ukraine war and U.S.-China competition have fueled fragmentation and the emergence of geopolitical blocs. There has been a dramatic reduction in cooperation among major powers. Our BlackRock Geopolitical Risk Indicator has declined from its 2022 peak, but market attention remains elevated. I reproduce only three risk that caught my attention as being more … Continue reading BlackRock latest Geopolitical Risk dashboard

Uncategorized

Government of Canada releases National Inherent Risk Assessment

Colin Henderson

The NIRA provides an overview of money laundering and terrorist financing risks posed to various business types and sectors before the application of mitigation measures. Its also the first AML/ATF Regime Strategy published by Canada and demonstrates the importance of public accountability and transparency to the success of the Regime. The report contains priorities grouped under the following four themes: Increasing operational effectiveness; Addressing legislative and regulatory gaps; Improving Regime governance and coordination; and Contributing to international community efforts to combat money laundering and terrorist financing. Thank you Josep Dixon FINTRAC for the notification of the release- LinkedIn Executive Summary … Continue reading Government of Canada releases National Inherent Risk Assessment