Kevin Daly News
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Mexican government bonds fell, pushing yields to their highest level in almost four months, as speculation that the Federal Reserve will curtail a stimulus program diminished the Latin American country’s prospects.
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Bank of England Governor Mervyn King will today assess if the economy’s return to growth is convincing enough for him to end a push for more stimulus after an unprecedented run of three vote defeats.
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Aberdeen Asset Management Plc, Scotland’s largest money manager, plans to start a fund this year to tap investor demand for bonds offered by the world’s least developed countries.
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Kevin Daly, a portfolio manager at Aberdeen Asset Management Plc. in London, comments on China’s monetary policy outlook and Indonesia’s rating outlook. Daly, who helps manage $6.5 billion in emerging-market funds, spoke today at a briefing in Hong Kong. The People’s Bank of China yesterday lifted the one-year deposit and lending rates by a quarter of a percentage point each to 3.5 percent and 6.56 percent respectively.
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The U.K. stands to win in terms of economic growth and gold medals from its hosting of the Olympic Games, according to Goldman Sachs Group Inc.
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Aberdeen Asset Management Plc is buying Malaysian ringgit bonds, betting an appreciation in China’s yuan will also boost the value of the Southeast Asian nation’s currency.
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Mitt Romney’s pledge to dump Federal Reserve Chairman Ben S. Bernanke is threatening Bill Gross with losses on his Mexican bonds.
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After 16 years of toiling in Anglo American Platinum Ltd.’s sweltering Bleskop platinum mine shafts, Giyo says he’s had enough of taking home 5,000 rand ($600) a month and living in a tin shack.
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Bank of England policy makers refrained from adding further stimulus to the U.K. economy today after their new credit-boosting program showed signs of success.
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World leaders from the U.K.’s David Cameron to Naoto Kan of Japan are betting they can deliver fiscal austerity without derailing economic prosperity. History suggests they may be right.
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