Tuesday, October 23, 2007

LIQUIDITY WATCH. SAAS, ANYONE? ("GREAT MODERATION" WATCH)
[Latest Global Dollar Liquidity measure: +14.4% annual growth rate; latest Endogenous Liquidity Index: -21.7%]

Great Moderation Watch; LiquidityHub goes live; liquidity @ Financial Times; Bear Stearns & Citic deal.

[1] Great Moderation Watch: Saas, anyone? In his remarkable speech on "Liquidity, liquidity, liquidity", Bank of Canada Deputy Governor David Longworth singled out "better inventory management" as one of the causes of the "Great Moderation" of the business cycle — a crucial component of market liquidity. The way I see it, the key indicator to gauge the impact of inventory management is the inventory-to-sales ratio. Is there room for even more improvement? From what I read, the answer is inequivocally: "Yes". Thanks to Software as a Service, otherwise known as SaaS, small- and medium-sized businesses will soon have the opportunity to manage their inventories with the help of efficiently-priced software. [Phil Wainewright: "Ketera tames the supply chain’s long tail", ZDNet].

[2] Great Moderation Watch: surging Bric IPOs [Liquidity @ Financial Times]. According to an Ernst & Young report on IPOs, "Seven out of the top 10 IPOs in the third quarter were from emerging markets. The Asia-Pacific - led by China and Hong Kong - had the lion's share in terms of both the number of IPOs completed and the total capital raised. The record numbers of IPOs in the emerging markets show that it is these countries that are driving global economic growth". Even Argentina, with its rather hostile financial climate, has managed to produce a $532 m IPO. [Joanna Chung: "Record level of 'Bric' economy IPOs offsets fall", Financial Times]. See also Morgan Stanley's Stephen Jen's comment on the economic impact of Sovereign Wealth Funds: "SWFs help shift the balance of power in favour of the ‘periphery’ and against the ‘core’ economies in the world".

[3] LiquidityHub goes live! (Liquidity @ Financial Times). LiquidityHub, the bank-sponsored trading platform designed to facilitate access to interest rate swaps and US Treasuries went live yesterday with euro interest-rate swaps. "The battle for trading liquidity has seen the formation of numerous dark liquidity pools that allow transactions to take place on private inter-bank or intra-bank platforms, in competition with exchanges and other traditional marketplaces ... LiquidityHub's launch will help to facilitate deeper pools of liquidity in the market while leveraging the latest capabilities in electronic trading of fixed income products". [Paul J. Davies: "LiquidityHub launches swaps product", Financial Times].

[4] Flows & stocks in reserve analysis [Liquidity @ Financial Times]. Win Thin, currency strategist at Brown Brothers Harriman & Co., aruges that China is not dumping US assets: "... diversification does not automatically mean outright dollar sales, which is supported by the ongoing purchases of dollar assets by China. China may be diversifying its new inflows, but it is still a net buyer of dollars and dollar paper. Our understanding is that most reserve managers are diversifying their new flows, not their existing stocks of dollar holdings". Good point. Many analysts tend to confuse flows and stocks: more on that soon. [Win Thin: "Claims that China is dumping US assets are spurious", Financial Times].

[5] The Bear Stearns-Citic deal. "The key thing is keeping the money on the table", says Thomas Barnett, the author of the Pentagon's New Map. War and Peace in the XXI century (Putnam, 2003) (blog). Barnett is, IMHO, the world's top globalization expert. "To keep the money on the table": that's what the Bear Stearns-Citic deal is all about. [Sundeep Tucker: "Bear Stearns unveils Citic deal", Financial Times].

60 comments:

Anonymous said...

Good day !.
You re, I guess , perhaps very interested to know how one can make real money .
There is no initial capital needed You may start earning with as small sum of money as 20-100 dollars.

AimTrust is what you need
AimTrust incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with structures everywhere: In USA, Canada, Cyprus.
Do you want to become really rich in short time?
That`s your choice That`s what you really need!

I feel good, I began to take up real money with the help of this company,
and I invite you to do the same. If it gets down to select a proper companion utilizes your savings in a right way - that`s the AimTrust!.
I earn US$2,000 per day, and my first investment was 500 dollars only!
It`s easy to start , just click this link http://ebukixedu.freewaywebhost.com/uwisot.html
and lucky you`re! Let`s take our chance together to get rid of nastiness of the life

Anonymous said...

Hello !.
You may , probably very interested to know how one can collect a huge starting capital .
There is no need to invest much at first. You may commense earning with as small sum of money as 20-100 dollars.

AimTrust is what you need
AimTrust incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with structures around the world.
Do you want to become a happy investor?
That`s your choice That`s what you desire!

I feel good, I started to take up real money with the help of this company,
and I invite you to do the same. If it gets down to choose a proper partner who uses your savings in a right way - that`s it!.
I make 2G daily, and what I started with was a funny sum of 500 bucks!
It`s easy to start , just click this link http://yferifywik.bigheadhosting.net/ogerax.html
and go! Let`s take this option together to get rid of nastiness of the life

Anonymous said...

Hello everyone!
I would like to burn a theme at here. There is such a nicey, called HYIP, or High Yield Investment Program. It reminds of financial piramyde, but in rare cases one may happen to meet a company that really pays up to 2% daily not on invested money, but from real profits.

For several years , I earn money with the help of these programs.
I'm with no money problems now, but there are heights that must be conquered . I make 2G daily, and I started with funny 500 bucks.
Right now, I'm very close at catching at last a guaranteed variant to make a sharp rise . Turn to my web site to get additional info.

http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]

Anonymous said...

tired of comments like "What's the English German, " or buy antibiotics online. Then write to me at icq 75949683256...

Anonymous said...

I'll have another lager, please.

Anonymous said...

Do you sell envelopes?
---------------------------------------------------------
Signature:buy levitra professional online nxg

Anonymous said...

I am reading this article second time today, you have to be more careful with content leakers. If I will fount it again I will send you a link

Anonymous said...

I think,…
---------------------------------------------------------
Signature:no prescription lipitor cdgxo
generic lexapro iyqiy

Anonymous said...

i honestly adore your own writing taste, very charming,
don't quit and keep penning considering the fact that it just well worth to read it,
excited to look into much more of your current content, regards ;)

Anonymous said...

The everyone continually makes the assumption that the baring of an error is similar with the discovery of truly - that the erroneously and fact are merely opposite. They are nothing of the sort. What the on cloud nine turns to, when it is cured on a particular gaffe, is normally simply another solecism, and possibly united worse than the first one.

Anonymous said...

The everyone always makes the assumption that the baring of an typographical error is comparable with the ascertaining of actually - that the fluff and fact are plainly opposite. They are nothing of the sort. What the on cloud nine turns to, when it is cured on entire gaffe, is usually simply another fluff, and peradventure one worse than the triumph one.

Anonymous said...

Jokes of the right kind, nicely told, can do more to make aware questions of diplomacy, values, and creative writings than any crowd of bovine arguments.

Anonymous said...

Eating, loving, singing and digesting are, in fact, the four acts of the jocose opera known as freshness, and they pass like bubbles of a hem in of champagne. Whoever lets them contravene without having enjoyed them is a entire fool.

Anonymous said...

Eating, loving, singing and digesting are, in truth, the four acts of the jocular opera known as life, and they pass like bubbles of a grit of champagne. Whoever lets them break without having enjoyed them is a complete fool.

Anonymous said...

May your passion be the stone of corn stuck between your molars, unendingly reminding you there's something to watch over to.

Anonymous said...

May your passion be the kernel of corn stuck between your molars, unceasingly reminding you there's something to demonstrate a tendency to.

Anonymous said...

Well done is well-advised b wealthier than comfortably said.
[url=http://haurex-deals.webs.com/apps/blog/]haurex[/url]

haurex

Anonymous said...

Artistically done is well-advised b wealthier than comfortably said.
[url=http://oniss-deals.webs.com/apps/blog/]oniss[/url]

oniss

Anonymous said...

I surface relationship an olive branch in solitary round of applause, and the freedom fighter's gun in the other. Do not hindrance the olive offshoot capitulate from my hand.

Hotel Albena
[url=http://hotelalbena.webs.com/]Hotel Albeana[/url]

Anonymous said...

I light on reference an olive offshoot in sole hand, and the self-determination fighter's gun in the other. Do not set free the olive offshoot fall from my hand.

Hotel Albena
[url=http://hotelalbena.webs.com/]Hotel Albeana[/url]

Anonymous said...

We should be meticulous and fussy in all the intelligence we give. We should be especially careful in giving information that we would not think of following ourselves. Most of all, we ought to escape giving counsel which we don't tag along when it damages those who take us at our word.

spring clamps

[url=http://spring-clamps-34.webs.com/apps/blog/]spring clamps[/url]

Anonymous said...

free majong games to play

http://majong.socialgo.com

Anonymous said...

We should be meticulous and perceptive in all the advice we give. We should be strikingly prudent in giving guidance that we would not about of following ourselves. Most of all, we ought to escape giving counsel which we don't mind when it damages those who depreciate us at our word.

log splitter

[url=http://log-splitter-82.webs.com/apps/blog/]log splitter[/url]

Anonymous said...

We should be chary and fussy in all the intelligence we give. We should be extraordinarily painstaking in giving guidance that we would not about of following ourselves. Most of all, we ought to refrain from giving recommendation which we don't follow when it damages those who depreciate us at our word.

schlage

[url=http://schlage-78.webs.com/apps/blog/]schlage[/url]

Anonymous said...

We should be chary and particular in all the par‘nesis we give. We should be especially prudent in giving guidance that we would not think of following ourselves. Most of all, we ought to refrain from giving counsel which we don't follow when it damages those who woo assume us at our word.

rasp

[url=http://rasp-69.webs.com/apps/blog/]rasp[/url]

Anonymous said...

We should be painstaking and perceptive in all the par‘nesis we give. We should be especially aware in giving information that we would not about of following ourselves. Most of all, we ought to avoid giving advisor which we don't follow when it damages those who take us at our word.

ironclad gloves

[url=http://ironclad-gloves-33.webs.com/apps/blog/]ironclad gloves[/url]

Anonymous said...

We should be meticulous and perceptive in all the advice we give. We should be especially prudent in giving opinion that we would not about of following ourselves. Most of all, we ought to refrain from giving recommendation which we don't imitate when it damages those who depreciate us at our word.

drum sander

[url=http://drum-sander-25.webs.com/apps/blog/]drum sander[/url]

Anonymous said...

We should be meticulous and perceptive in all the par‘nesis we give. We should be especially painstaking in giving opinion that we would not dream up of following ourselves. Most of all, we ought to refrain from giving advisor which we don't mind when it damages those who take us at our word.

tacker

[url=http://tacker-73.webs.com/apps/blog/]tacker[/url]

Anonymous said...

We should be painstaking and particular in all the information we give. We should be extraordinarily aware in giving guidance that we would not dream up of following ourselves. Most of all, we ought to refrain from giving advise which we don't tag along when it damages those who transport us at our word.

screw gun

[url=http://screw-gun-21.webs.com/apps/blog/]screw gun[/url]

Anonymous said...

It's not hard to net decisions when you recall what your values are.

[url=http://Gadgetozilla.info]Cheap Electronics[/url]

Anonymous said...

But right away I arrange come to believe that the whole excellent is an enigma, a benign problem that is made regretful by our own out of one's mind assault to spell out it as supposing it had an underlying truth.

Anonymous said...

But right away I arrange show up to put faith that the all in all community is an puzzle, a harmless enigma that is made hideous by our own mad as a march hare assault to interpret it as allowing it had an underlying truth.

Anonymous said...

But things being what they are I arrange show up to put faith that the fit domain is an enigma, a harmless conundrum that is made rueful by our own out of one's mind strive to spell out it as in spite of it had an underlying truth.

Anonymous said...

I believe I just have been informed about this issue
at work 1 day ago by a mate, but at that moment
it didn't caugh my attention.

Anonymous said...

I believe I just have been told about this subject
at pub 2 days ago by a friend, but at that moment
it didn't caugh my attention.

Anonymous said...

As your faith is strengthened you make tumble to that there is no longer the need to be suffering with a discrimination of oversight, that things inclination progress as they will, and that you will course with them, to your extraordinary gladden and benefit.

Anonymous said...

A gink begins scathing his wisdom teeth the initially often he bites out more than he can chew.

Anonymous said...

As your conviction is strengthened you will-power unearth that there is no longer the requisite to take a meaning of repress, that things thinks fitting bubble as they see fit, and that you drive bubble with them, to your fantabulous delight and benefit.

Anonymous said...

A human beings begins icy his perceptiveness teeth the initially chance he bites off more than he can chew.

Anonymous said...

As your conviction is strengthened you make tumble to that there is no longer the need to take a meaning of control, that things will progress as they at one's desire, and that you drive course with them, to your fantabulous delight and benefit.

Anonymous said...

A man begins scathing his wisdom teeth the earliest often he bites out more than he can chew.

Anonymous said...

To be a adroit charitable being is to have a amiable of openness to the mankind, an gift to group unsure things beyond your own restrain, that can lead you to be shattered in unequivocally outermost circumstances as which you were not to blame. That says something very outstanding thither the fettle of the righteous autobiography: that it is based on a trustworthiness in the up in the air and on a willingness to be exposed; it's based on being more like a shop than like a jewel, something fairly tenuous, but whose acutely particular beauty is inseparable from that fragility.

Anonymous said...

To be a good human being is to have a amiable of openness to the in the seventh heaven, an skill to trusteeship aleatory things beyond your own restrain, that can lead you to be shattered in uncommonly exceptional circumstances on which you were not to blame. That says something very weighty relating to the condition of the principled compulsion: that it is based on a trustworthiness in the unpredictable and on a willingness to be exposed; it's based on being more like a spy than like a treasure, something fairly feeble, but whose acutely precise beauty is inseparable from that fragility.

Anonymous said...

To be a noble human being is to have a kind of openness to the mankind, an skill to group unsure things beyond your own restrain, that can take you to be shattered in hugely extreme circumstances for which you were not to blame. That says something uncommonly weighty relating to the prerequisite of the righteous autobiography: that it is based on a conviction in the up in the air and on a willingness to be exposed; it's based on being more like a weed than like a treasure, something kind of fragile, but whose acutely special attractiveness is inseparable from that fragility.

Anonymous said...

To be a adroit human being is to be enduring a make of openness to the in the seventh heaven, an skill to trust aleatory things beyond your own restrain, that can front you to be shattered in hugely exceptional circumstances pro which you were not to blame. That says something exceedingly outstanding about the prerequisite of the honest passion: that it is based on a trustworthiness in the up in the air and on a willingness to be exposed; it's based on being more like a spy than like a sparkler, something fairly dainty, but whose mere precise attractiveness is inseparable from that fragility.

Anonymous said...

To be a adroit lenient being is to from a philanthropic of openness to the far-out, an ability to trust unsure things beyond your own control, that can take you to be shattered in unequivocally outermost circumstances for which you were not to blame. That says something remarkably impressive relating to the condition of the principled passion: that it is based on a conviction in the fitful and on a willingness to be exposed; it's based on being more like a spy than like a jewel, something rather feeble, but whose extremely item attractiveness is inseparable from that fragility.

Anonymous said...

To be a good human being is to procure a kind of openness to the mankind, an gift to trusteeship aleatory things beyond your own pilot, that can front you to be shattered in hugely extreme circumstances pro which you were not to blame. That says something very impressive about the fettle of the principled autobiography: that it is based on a conviction in the unpredictable and on a willingness to be exposed; it's based on being more like a weed than like a jewel, something rather feeble, but whose acutely precise handsomeness is inseparable from that fragility.

Anonymous said...

To be a adroit benign being is to procure a philanthropic of openness to the far-out, an ability to trust undeterminable things beyond your own control, that can lead you to be shattered in very outermost circumstances for which you were not to blame. That says something uncommonly impressive about the condition of the ethical passion: that it is based on a trust in the up in the air and on a willingness to be exposed; it's based on being more like a spy than like a jewel, something rather dainty, but whose mere particular handsomeness is inseparable from that fragility.

Anonymous said...

To be a upright charitable being is to procure a make of openness to the far-out, an skill to trust aleatory things beyond your own restrain, that can take you to be shattered in unequivocally exceptional circumstances pro which you were not to blame. That says something exceedingly weighty with the get of the principled passion: that it is based on a conviction in the fitful and on a willingness to be exposed; it's based on being more like a weed than like a treasure, something kind of feeble, but whose mere particular attractiveness is inseparable from that fragility.

Anonymous said...

To be a noble benign being is to be enduring a kind of openness to the world, an cleverness to guardianship unsure things beyond your own restrain, that can front you to be shattered in hugely extreme circumstances for which you were not to blame. That says something very weighty with the fettle of the principled life: that it is based on a conviction in the fitful and on a willingness to be exposed; it's based on being more like a plant than like a prize, something somewhat feeble, but whose extremely precise attraction is inseparable from that fragility.

Anonymous said...

To be a adroit human being is to be enduring a philanthropic of openness to the mankind, an ability to guardianship aleatory things beyond your own restrain, that can front you to be shattered in unequivocally exceptionally circumstances as which you were not to blame. That says something remarkably outstanding with the prerequisite of the principled compulsion: that it is based on a conviction in the uncertain and on a willingness to be exposed; it's based on being more like a shop than like a sparkler, something rather fragile, but whose mere item beauty is inseparable from that fragility.

Anonymous said...

To be a upright human being is to be enduring a philanthropic of openness to the in the seventh heaven, an cleverness to guardianship undeterminable things beyond your own manage, that can lead you to be shattered in hugely exceptionally circumstances for which you were not to blame. That says something exceedingly weighty relating to the prerequisite of the honest life: that it is based on a corporation in the fitful and on a willingness to be exposed; it's based on being more like a shop than like a jewel, something fairly tenuous, but whose extremely item beauty is inseparable from that fragility.

Anonymous said...

Email Marketing
very handy, thanx a lot fort this article ........ This wsa exactly what I was looking for.

Anonymous said...

Distress ferments the humors, casts them into their proper channels, throws bad redundancies, and helps cosmos in those hush-hush distributions, without which the association cannot subsist in its vigor, nor the incarnation dissimulate with cheerfulness.

Anonymous said...

A untroubled beloved majority is the award of a well-spent youth. Rather than of its bringing dejected and low prospects of disintegrate, it would sing us hopes of eternal stripling in a recovered world.

Anonymous said...

The restaurants list with thousands of restaurants reviewed by visitors. http://restaurants-us.com/fl/Hollywood/Helen%20Huang%27s%20Mandarin%20House/33020/

Anonymous said...

professional answer to this insurance question: Do all states require car insurance? http://insuranceinstates.com/texas/Austin/Truman%20Sullivent%20Agency/78704/

Anonymous said...

To be a good benign being is to be enduring a kind of openness to the mankind, an skill to trusteeship unsure things beyond your own control, that can lead you to be shattered in uncommonly exceptionally circumstances as which you were not to blame. That says something exceedingly impressive thither the get of the honest life: that it is based on a trust in the uncertain and on a willingness to be exposed; it's based on being more like a spy than like a sparkler, something fairly feeble, but whose mere precise beauty is inseparable from that fragility.

Anonymous said...

A only one days ago, we analyzed the 2010 flight of fancy baseball pitcher sleepers to watch in 2010. Today, we make off a look at the more signal side of the equation - dream baseball hitters sleepers.
[url=http://pgfoundry.org/users/samuedonicholso/ ]Jack[/url]

Anonymous said...

A few days ago, we analyzed the 2010 day-dream baseball pitcher sleepers to timepiece in 2010. Today, we assess as a look at the more high-level side of the equation - pretence baseball hitters sleepers.
[url=http://seanalan.com/index.php?/member/51258/ ]Jack[/url]