Derivati USA: CME-CBOT-NYMEX-ICE T-Bond-10y-Bund : la maledizione di f4f (vm18)
- Creatore Discussione gipa69
- Data di Inizio
quicksilver
Forumer storico
ma che carini che sono, si vede proprio che pensano a noi!
il rimbalzo del nasdaq100 che aveva impedito al nostro azionario e al nostro FIB di scendere è finito e ha cominciato il movimento che portato a nuovi minimi proprio alle 17:40
son proprio simpatici eh?
il rimbalzo del nasdaq100 che aveva impedito al nostro azionario e al nostro FIB di scendere è finito e ha cominciato il movimento che portato a nuovi minimi proprio alle 17:40
son proprio simpatici eh?
Fleursdumal
फूल की बुराई
supporto breve mS&P500 sulla s1 a 1343,5
l'oil che ha perso quasi una figura dal picco a 64$ sta dando un pò di linfa fresca
il t-bronx tuttosommato sta reggendo, non c'è ancora la candelaccia del fuori tutti
l'oil che ha perso quasi una figura dal picco a 64$ sta dando un pò di linfa fresca
il t-bronx tuttosommato sta reggendo, non c'è ancora la candelaccia del fuori tutti
Fleursdumal
फूल की बुराई
articoletto sui colleghi pazzi con gli occhi a mandorla 
Japan's lone traders causing stir in forex market
Wed Sep 27, 2006
By Masayuki Kitano
TOKYO, Sept 28 (Reuters) - Fed up with near-zero interest rates at home, Japanese individuals are flocking to leveraged foreign exchange trading, attracting the attention of even professional dealers.
Foreign exchange margin trading, which allows investors to make large bets with relatively small amounts of money, saw an explosive increase in business last year after a cleanup by regulators improved the sector's image.
Retail investors trading from computers at home and punching in orders on cell phones are increasingly making their presence felt in the $1.9-trillion-a-day foreign exchange market, a presence that margin brokers say is already nothing to sneeze at.
"Margin-trading related orders are said to account for roughly 15 to 20 percent of foreign currency flows during Tokyo trade," said Masaaki Saito, assistant vice president for Gaitame.com, the largest foreign exchange margin broker in Japan.
The hunger of margin traders to sell yen for higher-yielding currencies is one factor in the yen's broad slide this year to all-time lows against the euro and eight-year lows against currencies such as the sterling.
Some currency analysts say such estimates may be overdone.
But dealers at big banks in Tokyo are keeping a closer eye on the moves of such retail investors, whose trades can be similar in style, if not in scale, to the carry trades often associated with hedge funds and large speculators.
Carry trades consist of borrowing low-yielding yen to then buy higher-yielding currencies, magnifying the money earned on the difference in interest rates with leverage.
Margin trading is essentially investment with borrowed money. If an investor wants to invest 10 million yen ($85,110) in dollars, only a fraction of the total is needed, for instance about 10 percent, or one million yen.
Such leverage provides an opportunity for big returns but also leaves open the possibility of suffering hefty losses.
According to the Financial Futures Association of Japan, trading volume in foreign exchange margin trading among association members and special participants combined amounted to 82.6 trillion yen ($703 billion) in the April-June quarter.
That is roughly 1.3 trillion yen per trading day and amounts to about 17 percent of the average daily turnover in the spot currency market in Tokyo of $66.1 billion in April.
Such figures may provide a rough picture but are not complete, since the data compiled by the futures association only covers turnover reported by member institutions.
Another caveat is that Japanese retail investors tend to be more active at night, since many trade after getting home from work. This means a large portion of trades take place using markets in London or New York after Tokyo markets have closed.
NIGHT TRADERS
The fact that foreign exchange markets are open around the clock is one reason why currency margin trading appeals to Japanese retail investors, margin brokers say.
The 24-hour nature of the market is a plus for individuals since they can trade from home by inputting orders via the Internet or even mobile phones.
"We often see a rush of people trying to access our homepage at around 9:20 p.m. (1220 GMT)," said Toshiyasu Endo, general manager at Himawari Securities Inc., which began offering currency margin trading to retail investors in 1998 -- the first Japanese broker to do so.
He said such investors were likely trying to get information on U.S. indicators, which are often released around that time.
It is not just people with jobs who trade at night.
A 33-year-old woman, one of the hundreds of retail investors who attended a Gaitame.com seminar in July, said she finds her days and nights are "often reversed".
"Profits have been so-so," she said, adding: "I want to keep doing this." She said she currently did not have a job and was hoping to make currency margin trading her main source of income.
Masafumi Yamamoto, a currency strategist at Nikko Citigroup, said margin traders may be helping to temper swings in currency markets.
"Basically, retail investors tend to be contrarians. They buy when prices fall and sell when they rise," Yamamoto said. "I think they have been a factor in limiting the downside ... of high-yield currencies in particular," he added.
Some analysts, however, warn that margin traders could be a source of volatility if their combined wagers become too big.
"Since they use a lot of leverage ... if the market keeps growing bigger, I think authorities should firmly manage this," said Toru Umemoto, chief FX strategist for Japan at Barclays Capital.
Japan's lone traders causing stir in forex market
Wed Sep 27, 2006
By Masayuki Kitano
TOKYO, Sept 28 (Reuters) - Fed up with near-zero interest rates at home, Japanese individuals are flocking to leveraged foreign exchange trading, attracting the attention of even professional dealers.
Foreign exchange margin trading, which allows investors to make large bets with relatively small amounts of money, saw an explosive increase in business last year after a cleanup by regulators improved the sector's image.
Retail investors trading from computers at home and punching in orders on cell phones are increasingly making their presence felt in the $1.9-trillion-a-day foreign exchange market, a presence that margin brokers say is already nothing to sneeze at.
"Margin-trading related orders are said to account for roughly 15 to 20 percent of foreign currency flows during Tokyo trade," said Masaaki Saito, assistant vice president for Gaitame.com, the largest foreign exchange margin broker in Japan.
The hunger of margin traders to sell yen for higher-yielding currencies is one factor in the yen's broad slide this year to all-time lows against the euro and eight-year lows against currencies such as the sterling.
Some currency analysts say such estimates may be overdone.
But dealers at big banks in Tokyo are keeping a closer eye on the moves of such retail investors, whose trades can be similar in style, if not in scale, to the carry trades often associated with hedge funds and large speculators.
Carry trades consist of borrowing low-yielding yen to then buy higher-yielding currencies, magnifying the money earned on the difference in interest rates with leverage.
Margin trading is essentially investment with borrowed money. If an investor wants to invest 10 million yen ($85,110) in dollars, only a fraction of the total is needed, for instance about 10 percent, or one million yen.
Such leverage provides an opportunity for big returns but also leaves open the possibility of suffering hefty losses.
According to the Financial Futures Association of Japan, trading volume in foreign exchange margin trading among association members and special participants combined amounted to 82.6 trillion yen ($703 billion) in the April-June quarter.
That is roughly 1.3 trillion yen per trading day and amounts to about 17 percent of the average daily turnover in the spot currency market in Tokyo of $66.1 billion in April.
Such figures may provide a rough picture but are not complete, since the data compiled by the futures association only covers turnover reported by member institutions.
Another caveat is that Japanese retail investors tend to be more active at night, since many trade after getting home from work. This means a large portion of trades take place using markets in London or New York after Tokyo markets have closed.
NIGHT TRADERS
The fact that foreign exchange markets are open around the clock is one reason why currency margin trading appeals to Japanese retail investors, margin brokers say.
The 24-hour nature of the market is a plus for individuals since they can trade from home by inputting orders via the Internet or even mobile phones.
"We often see a rush of people trying to access our homepage at around 9:20 p.m. (1220 GMT)," said Toshiyasu Endo, general manager at Himawari Securities Inc., which began offering currency margin trading to retail investors in 1998 -- the first Japanese broker to do so.
He said such investors were likely trying to get information on U.S. indicators, which are often released around that time.
It is not just people with jobs who trade at night.
A 33-year-old woman, one of the hundreds of retail investors who attended a Gaitame.com seminar in July, said she finds her days and nights are "often reversed".
"Profits have been so-so," she said, adding: "I want to keep doing this." She said she currently did not have a job and was hoping to make currency margin trading her main source of income.
Masafumi Yamamoto, a currency strategist at Nikko Citigroup, said margin traders may be helping to temper swings in currency markets.
"Basically, retail investors tend to be contrarians. They buy when prices fall and sell when they rise," Yamamoto said. "I think they have been a factor in limiting the downside ... of high-yield currencies in particular," he added.
Some analysts, however, warn that margin traders could be a source of volatility if their combined wagers become too big.
"Since they use a lot of leverage ... if the market keeps growing bigger, I think authorities should firmly manage this," said Toru Umemoto, chief FX strategist for Japan at Barclays Capital.
Fernando'S
Forumer storico
molto istruttivo ( in italiano)
http://lagash.dft.unipa.it/sito-str...dei fisici allo studio dei sistemi economici"
leggere bene il par. 4
http://lagash.dft.unipa.it/sito-str...dei fisici allo studio dei sistemi economici"
leggere bene il par. 4
gipa69
collegio dei patafisici
Reuters
Wall Street profits may fall 23 pct in 2007: study
Thursday September 28, 2:29 pm ET
By Jonathan Stempel
NEW YORK (Reuters) - Wall Street profits from U.S. operations may fall 23 percent next year as the economy slows, corporate earnings growth moderates and fees decline, a new study shows.
Pre-tax earnings at firms registered with the New York Stock Exchange and the NASD may drop to $19.6 billion in 2007 from $25.6 billion this year, according to the study, released this week by the Securities Industry Association (SIA).
ADVERTISEMENT
U.S. net revenue may fall 6 percent to $196.4 billion from an expected record of $208.6 billion this year, the study said.
Profit may fall "as revenue margin compression continues and slower growth in the economy and in corporate profits constrains activity in both primary and secondary securities markets," SIA chief economist Frank Fernandez wrote.
Fernandez also expects an end of "outsized gains" from proprietary trading, and an abating of the rapid growth in revenue from prime brokerage services fees from merger advice, leveraged buyouts and private equity transactions.
U.S. pretax profit this year may rise 45 percent from last year's $17.6 billion to the second-highest level ever, helped by gains from investment banking and trading, the study said. Only 2000, when firms took in $31.6 billion as stocks crested and the technology bubble peaked, was more profitable.
Four major Wall Street banks -- Bear Stearns Cos. (NYSE
SC - News), Goldman Sachs Group Inc. (NYSE:GS - News), Lehman Brothers Holdings Inc.(NYSE:LEH - News) and Morgan Stanley (NYSE:MS - News) -- this month posted third-quarter results that were stronger than analysts expected. A fifth, Merrill Lynch & Co. (NYSE:MER - News), reports in October.
Analysts polled by Reuters Estimates on average expect these companies to increase net income 5 percent in 2007 to $27.32 billion from an expected $26.11 billion this year. Both figures include international operations.
The industry's rise in U.S. pretax profits from $12.1 billion in 2002, the third year of a bear market in stocks, has contributed to more hiring.
U.S. securities industry employment totaled 801,300 people at the end of August, up 2.3 percent from a year earlier and the most since April 2002, Bureau of Labor Statistics data show. Employment peaked at 840,900 in March 2001 and fell as low as 751,000 in October 2003.
Industry employment in New York state totaled 201,300 in August, up 3.4 percent, and including 181,000 in New York City.
Statewide, securities jobs are down from their December 2000 peak of 216,700 but up from 174,500 in April 2003. New York's share of U.S. securities industry jobs has risen every year since 2001.
The SIA represents more than 600 firms. It has offices in New York and Washington.
Wall Street profits may fall 23 pct in 2007: study
Thursday September 28, 2:29 pm ET
By Jonathan Stempel
NEW YORK (Reuters) - Wall Street profits from U.S. operations may fall 23 percent next year as the economy slows, corporate earnings growth moderates and fees decline, a new study shows.
Pre-tax earnings at firms registered with the New York Stock Exchange and the NASD may drop to $19.6 billion in 2007 from $25.6 billion this year, according to the study, released this week by the Securities Industry Association (SIA).
ADVERTISEMENT
U.S. net revenue may fall 6 percent to $196.4 billion from an expected record of $208.6 billion this year, the study said.
Profit may fall "as revenue margin compression continues and slower growth in the economy and in corporate profits constrains activity in both primary and secondary securities markets," SIA chief economist Frank Fernandez wrote.
Fernandez also expects an end of "outsized gains" from proprietary trading, and an abating of the rapid growth in revenue from prime brokerage services fees from merger advice, leveraged buyouts and private equity transactions.
U.S. pretax profit this year may rise 45 percent from last year's $17.6 billion to the second-highest level ever, helped by gains from investment banking and trading, the study said. Only 2000, when firms took in $31.6 billion as stocks crested and the technology bubble peaked, was more profitable.
Four major Wall Street banks -- Bear Stearns Cos. (NYSE
SC - News), Goldman Sachs Group Inc. (NYSE:GS - News), Lehman Brothers Holdings Inc.(NYSE:LEH - News) and Morgan Stanley (NYSE:MS - News) -- this month posted third-quarter results that were stronger than analysts expected. A fifth, Merrill Lynch & Co. (NYSE:MER - News), reports in October.Analysts polled by Reuters Estimates on average expect these companies to increase net income 5 percent in 2007 to $27.32 billion from an expected $26.11 billion this year. Both figures include international operations.
The industry's rise in U.S. pretax profits from $12.1 billion in 2002, the third year of a bear market in stocks, has contributed to more hiring.
U.S. securities industry employment totaled 801,300 people at the end of August, up 2.3 percent from a year earlier and the most since April 2002, Bureau of Labor Statistics data show. Employment peaked at 840,900 in March 2001 and fell as low as 751,000 in October 2003.
Industry employment in New York state totaled 201,300 in August, up 3.4 percent, and including 181,000 in New York City.
Statewide, securities jobs are down from their December 2000 peak of 216,700 but up from 174,500 in April 2003. New York's share of U.S. securities industry jobs has risen every year since 2001.
The SIA represents more than 600 firms. It has offices in New York and Washington.