Corporate-bond trading volumes are surging to the highest ever to start the year as investors adapt to a new reality of reduced dealer balance sheets by turning to electronically exchanged debt and smaller transactions.
Michael Buchanan knew exactly what to do as markets were rocked in recent weeks on concern turmoil in developing nations from Argentina to China and Turkey would cause the global economic recovery to derail: buy junk bonds.
Taiwan’s dollar will climb 4.8 percent against the U.S. currency in a year as the central bank allows appreciation, while gains in other Asian currencies are less assured, according to Goldman Sachs Group Inc.
Japan is likely to see a rebound in the second half of this year after a blow that will be determined by the magnitude of electricity disruptions caused by the earthquake and tsunami, a survey of economists showed.
China’s economic growth will withstand a slowdown in the nation’s property market because households borrowed less to purchase their homes than in developed nations, according to Goldman Sachs Group Inc.
Goldman Sachs Group Inc. economists lowered their forecast for Chinese economic growth after data showed a slowdown in April, joining banks including JPMorgan Chase & Co. and UBS AG in paring outlooks.
Goldman Sachs Group Inc. cut its three-month forecasts for Asian currencies, predicting more modest appreciation for South Korea’s won and Malaysia’s ringgit on declines in the euro and a slowing Chinese economy.
Federal Reserve Chairman Ben S. Bernanke said the economy is barely expanding at a sustainable pace and that it’s possible the Fed may expand bond purchases beyond the $600 billion announced last month to spur growth.