Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

A few weeks ago, I wrote a piece titled Blockchain in the Financial Services Industry with the aim of shedding some light on this new and upcoming technology. The discussions ensued seeking clarity on the concept of blockchain and how it can actually be applied to financial services. It seems that while there is ample documentation available, much of it is indecipherable to those new to this concept. Consequently, this piece is meant to demystify the blockchain concept which should help the readers understand potential applications and comprehend insights written by my peers.

A few weeks ago, I wrote a piece titled Blockchain in the Financial Services Industry with the aim of shedding some light on this new and upcoming technology. The discussions ensued seeking clarity on the concept of blockchain and how it can actually be applied to financial services. It seems that while there is ample documentation available, much of it is indecipherable to those new to this concept. Consequently, this piece is meant to demystify the blockchain concept which should help the readers understand potential applications and comprehend insights written by my peers.

Founder and CEO, Europacifica Consulting

Naomi Fink

Founder and CEO

Europacifica Consulting

Macroeconomics

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/010/306/original/Market-VIX-and-macroeconomic-volatility-GDPVol-CPIVol-VIX_chartbuilder.png?1468568433" class="editor-image img-responsive" data-smartkarma-image-id="10306"><figcaption class="figcaption">The Market and Macro Volatility (Source: FRED)</figcaption></figure> There are good surprises, and then there are the other kind, and the market of late has delivered quite a few of the latter. Fortunately, as we pointed out in our <a href="https://www.smartkarma.com/insights/macro-chart-focus-brexit-and-the-yen" target="_blank">post-Brexit review</a>  the “chaos premium” was quick to subside as markets realized that an exit from Europe is not so rapidly orchestrated.  We also pointed out however that the circumstances underlying the event may be one contributor to a longer-term market risk premium to be imposed upon…

 The Market and Macro Volatility (Source: FRED) There are good surprises, and then there are the other kind, and the market of late has delivered quite a few of the latter.   Fortunately, as we pointed out in our post-Brexit review  the “chaos premium” was quick to subside as markets realized that an exit from Europe is not so rapidly orchestrated.  We also pointed out however that the circumstances underlying the event may be one contributor to a longer-term market risk premium to be imposed upon…

Macro Chart Focus: Surprises and Uncertainty Premia

Global Asset Allocation, Politics & Governance, Ecstrat

John-Paul Smith

Global Asset Allocation, Politics & Governance

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
​
More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Cross Asset Strategy

In this brief piece we take a considered stance on the likelihood of Brexit actually proceeding in the wake of June’s referendum and examine some of the strategic implications for equity investors in terms of the potential shifts in sovereign and corporate governance.

In this brief piece we take a considered stance on the likelihood of Brexit actually proceeding in the wake of June’s referendum and examine some of the strategic implications for equity investors in terms of the potential shifts in sovereign and corporate governance.

Transport Sector, China and Asia-focused Research

Charles De Trenck

I recently sat down for a catch up with a finance friend running a CFO type role in a major company. Some points he noted on banks led to what I see as continued coming compliance feeding frenzy, and which may lead to another major hurdle/headache for investors/bank account holders and global banks (not all bad, but confusing and execution issues). As a result of my initial discussion, I followed up with other bank and company managers as well as a private bank executive representing overseas…

I recently sat down for a catch up with a finance friend running a CFO type role in a major company. Some points he noted on banks led to what I see as continued coming compliance feeding frenzy, and which may lead to another major hurdle/headache for investors/bank account holders and global banks (not all bad, but confusing and execution issues). As a result of my initial discussion, I followed up with other bank and company managers as well as a private bank executive representing overseas…

CRS/AEOI: The Next FATCA …And Which May Affect Even More Asia Accounts

Yen has been the (perhaps unwilling) beneficiary of the risk-aversion of Brexit.This type of environment is a high risk environment for MOF intervention, but where volatility is mainly concentrated in the GBP (see graphic) not yen, intervening in USDJPY might not be so useful.  Moreover, right while BOJ is supplying dollars via auction it is possible there is a desire not to intervene as a cross-current to this operation.That said, given skittish markets and yen’s status as a risk haven, MOF may stay on high intervention alert for quite some time.  It is a good idea to keep watching speculative positioning and volatility.Given upcoming elections, there is probably reason for a lot of political pressure on the MOF to intervene; still the focus is diverted from Abenomics to developments abroad, which might mean a fairly positive outcome for Abe.  Expect further justifications for delay in the consumption tax hike and fiscal spending package already planned.

Yen has been the (perhaps unwilling) beneficiary of the risk-aversion of Brexit.This type of environment is a high risk environment for MOF intervention, but where volatility is mainly concentrated in the GBP (see graphic) not yen, intervening in USDJPY might not be so useful.  Moreover, right while BOJ is supplying dollars via auction it is possible there is a desire not to intervene as a cross-current to this operation.That said, given skittish markets and yen’s status as a risk haven, MOF may stay on high intervention alert for quite some time.  It is a good idea to keep watching speculative positioning and volatility.Given upcoming elections, there is probably reason for a lot of political pressure on the MOF to intervene; still the focus is diverted from Abenomics to developments abroad, which might mean a fairly positive outcome for Abe.  Expect further justifications for delay in the consumption tax hike and fiscal spending package already planned.

United Kingdom

HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance.  The Group operates worldwide.

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HSBC Holdings (5 HK)

Blockchain & Bitcoin 101

A few weeks ago, I wrote a piece titled Blockchain in the Financial Services Industry with the aim of shedding some light on this new and upcoming...

Ishita Jain

Macro Chart Focus: Surprises and Uncertainty Premia

There are good surprises, and then there are the other kind, and the market of late has delivered quite a few of the latter. Fortunately, as we...

Naomi Fink

Brexit; Unintended Consequences

In this brief piece we take a considered stance on the likelihood of Brexit actually proceeding in the wake of June’s referendum and examine some...

John-Paul Smith

CRS/AEOI: The Next FATCA …And Which May Affect Even More Asia Accounts

I recently sat down for a catch up with a finance friend running a CFO type role in a major company. Some points he noted on banks led to what I...

Charles De Trenck

Macro Chart Focus: Brexit and the Yen

Yen has been the (perhaps unwilling) beneficiary of the risk-aversion of Brexit.This type of environment is a high risk environment for MOF...

Naomi Fink

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