You’d be forgiven for thinking that post-crisis, risk and the data surrounding it, would be a top priority for financial firms. Preliminary results from a new study from JWG seem to suggest otherwise though, as many global financial services organisations have admitted to not actively reviewing their risk data quality processes...
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A quarter many would rather forget
As the final trading session of the quarter gets underway for many it’ll be a quarter they would rather forget. The re-emergence of the eurozone debt crisis got us off to a shaky start but didn’t deter investors from pushing onto new highs, in particular there was extravagant strength from US and many European markets namely the Dax and the Cac.
Once again the wait-and-see approach
A calm and quiet session is what was expected yesterday and that was exactly what we saw, with sideways movement the overriding theme. Sterling hung onto its morning gains as investors saw fit to target an undervalued pound.
Irish bank stress test results today
In a surprise development, Libyan foreign minister Moussa Koussa arrived on UK soil yesterday aboard, according to the BBC at least, a British military plane. The Foreign Office said he is "no longer willing" to work for Muammar Gaddafi.
Will ECB raise interest rates as investors expect?
The euro continues to see support despite today’s release of the results of the Irish stress tests on four of its largest banks. Investors appear to have priced-in a poor result and are looking more towards the European Central Bank’s monetary policy meeting, which is expected to see interest rates raised by 25-basis points next week.
First effects of the earthquake / tsunami taking its toll on the data front
Despite it being month-end and the end of the Japanese financial year, activity in the Asian session was relatively subdued. We saw early USDJPY demand into the Tokyo fix but momentum soon ran out and we were quickly back down below 83.0.
Dollar resumes gains following ADP report
Demand for safety once again fell by the wayside in the run-up to three key U.S. labor market reports sparking weakness in the yen and Swiss franc while boosting the appeal of dollars sensitive to commodity demand.
Real income falls
Household’s disposable income is officially on the slide according to figures from the Office for National Statistics yesterday. Real income dropped by 0.8% over last year with a 0.5% in the final quarter which suggests the living standards in the UK are on the slide.
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