Word: kelton
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...weak and cheap to borrow. "Dollar borrowing picked up steam after the G-20 summit {that ended in Pittsburgh on September 25} when traders concluded that interest rates in the U.S. were going to stay low for a long time," says Mark Matthews, chief Asia strategist for Fox-Pitt Kelton Securities. Adds Olivier Desbarres, a currency strategist for Asia with Credit Suisse: "Hedge funds, pension funds, and the trading desks of investment banks are now all putting this trade...
...University rather than FAS after the current transition phase, according to Longbrake. Mitchell said he has met with students in the Graduate School of Arts and Sciences and plans to meet with Senior Adviser on Faculty Development and Diversity Michele Lamont, Assistant Dean for Human Resources Andrea L. Kelton-Harris, GSAS Dean Allan M. Brandt, and Dean of the College Evelynn M. Hammonds—who served as provost for faculty development and diversity before assuming her current role. “His years of experience at the University, his strong commitment to the cause of diversity, and his expertise...
...think you're seeing the cycle repeat itself all over again, and Starwood and all of these guys are seeking to capitalize on the dislocation in the credit markets and purchase distressed debt that's out there," says Fox-Pitt Kelton Cochran Caronia Waller analyst Matthew Howlett...
...route, however. A Malaysian company accepting yuan as payment would have few reasons to hold the currency, which is not fully convertible. "Even if you could own the yuan through these swaps, what would you do with it?" asks Mark Matthews, a Hong Kong-based strategist for Fox-Pitt Kelton Securities. Yuan holders can invest their excess savings in Chinese securities, but only up to a point. The Chinese government said on Dec. 9 that it will triple the amount of domestic securities qualified foreign funds are allowed to purchase to up to $30 billion. But trillions of dollars...
...what is the point of China issuing all these swaps? "This is a contingency plan in case the dollar implodes," says Fox-Pitt Kelton's Matthews. "It is a way of continuing trade with its major trading partners." Other analysts say China is trying to assert itself, through words rather than deeds, on the global economic stage by taking a step toward making the yuan a global currency. "A lot of this is symbolic," says Citigroup's Chua. "China wants to be a player." And one sure way to be a player, as everyone knows, is to threaten to quit...