MisterFund dot com

Notwithstanding the current turbulence in global financial markets and mounting fears of a US recession, Visa has raised US$17.9bn in the biggest ever initial public offering (IPO) in the history of American capital markets.

The credit card major has raised a total of about US$17.86bn by selling 406mn shares for US$44 each. That is US $2 more than the highest price predicted by San Francisco-based Visa in its prospectus.
Read more

The deep declines in the Yen crosses have been a big story so far in 2008. However, one cross that has held up is the CHFJPY. Both currencies strengthen as market participants become risk averse, therefore the Swiss Franc and the Yen tend to move in tandem. But markets are dynamic and change quickly; the CHFJPY might be the next Yen cross to take the plunge.

Over the last 20 years, 101 has proved formidable as resistance on multiple occasions. Specifically, major tops have formed in January 1987, August 1992, and October 1998. These tops led to declines of no less than 2,000 pips (2,270 to be exact). A similar top may be in place at the July 2007 high of 101.84.

In August 2007, the CHFJPY broke below a 7 year support line. The rally that ensued over the next 3 months tested the trendline as resistance. With former support now providing resistance, the CHFJPY may be ready to plunge.

This is a close up view of the down-up sequence since July 2007. The decline from 101.85 to 92.15 is only in 3 waves but could be wave A of a flat correction. The 3 wave advance is a classic B wave. Risk is tight at 101.85 and targets for a few months out are the 100% and 161.8% extensions of 101.85-92.15/100.72 at 91.02 and 85.02. A new high (above 101.85) is not out of the question before a plunge occurs; but this is why we use stops.

Tell us what you think about this report: contact the strategist about the article at jsaettele@dailyfx.com

Articles powered by daily fx

March is the season for FMPs as investors seek `double indexation benefit`, which will lower their capital gains tax liability.

As the financial year draws to a close, mutual funds (MFs) are aggressively pushing fixed maturity plan (FMP) products by promising better yields, even if they have to give up a part of their margins in the process.
Read more

Kotak Mutual Fund has launched a 13 months Fixed Maturity Plan (FMP). Kotak FMP 13M Series 3, a close-ended debt fund.

The Scheme : Kotak FMP 13M Series 3, a close-ended Debt Scheme. Scheme Objective : The investment objective of the Scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.
Read more

In Japanese news from Forbes lately we discovered that the leadership vacancy at the Bank of Japan should be quickly addressed given the current volatility of global financial markets, Japanese Finance Minister Fukushiro Nukaga said Friday.

‘The period of vacancy at the Bank of Japan governor’s post has to be as minimum as possible as the global financial markets continue to be unstable,’ he told reporters. Read more

I read this articles from guardian and really attract of this info. Czech Export Bank (CEB) and state-run Vietindebank, Vietnam’s second-largest lender, will provide fundings worth $956 million to four infrastructure and beverage projects in Vietnam, an executive said on Friday.

The largest loan worth $720 million would go to construction of a highway in southern Vietnam and the two have also agreed to lend $236 million to develop a bus system, a waste treatment plant and a brewery, Vietindebank Chairman Tran Bac Ha said. Read more

HONG KONG: Asian stocks rose sharply yesterday after the US and other central banks triggered a Wall Street surge by agreeing a huge cash injection into ailing credit markets.

Analysts said the US Federal Reserve’s action could be worth up to US$200 billion and had boosted confidence, but added its long-term impact remained unclear.
Read more

The islamic Capital Market (ICM) refers to the market where activities are carried out in ways which does not conflict with the principles of Islam. The ICM represents an assertion of religous law in capital market transactions where the market is free from prohibited activities and elements such as riba’ (usury), maisir (gambling), and gharar (ambiguity).

The growing awareness of and demand for investing in accordance to islamic principles on a global scale has created a flourishing Islamic capital market, more so today due to increasing wealth in the hands of Muslims worldwide who are actively involved in corporate and business activities.

Consider these statistics:

* The Muslim population of the world today is estimated at about 1.5 billion, reprenting a sizeable 24% of total world population of 6.3 billion.

* Latent Islamic funds in global financial institutions is said to be at US1.3 trillion while the islamic financial market is estimated to be US230 billion in size, with an annual growth rate of 12% to 15%

* There are over 250 Islamic financial institutions currently operating in about 75 countries worldwide, with more than 100 Islamic equity funds managing assets in excess of US5.0 billion.

Indeed, the pace of development in the Islamic financial market has gathered momentum with the formation of various international Islamic organisations to study and promote this alternative market. These organisations include the Islamic Financial Services Board (IFSB) , the international Islamic Financial Market (IIFM) and the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).

Today, the Islamic financial market runs parallel to the conventional financial market and provides investors with an alternative investment philosophy that is rapidly gaining acceptance. The fact that the Islamic financial market does not prohibit participation from non-muslims creates unlimited upside to the depth and breadth of this market.

The dollar has just hit a record low against the euro and equities have extended Tuesday’s record breaking rally. And, like the broader financial markets, activity in the credit and money markets have seen a sharp spike in volatility recently stoked by inflammatory economic data and exogenous event risk that was both threatening and promising. By the end of last week, credit conditions were taking a severe turn for the worse. Lending activity was already being constricted owing to the tighter borrowing requirements following record losses reported by Freddie Mac and Fannie Mae. This was only exacerbated after indicators reported the service sector was contracting and employment fell for the second consecutive month. With dual concerns of an impending recession and deepening credit crunch, the outlook was bleak. However, when conditions seemed to be at their worst, the Fed once again stepped in with an expanded effort to revive liquidity.

Written by John Kicklighter, Currency Analyst for FXCM