Word: rale
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Dates: during 2010-2019
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Colombia and Chile experienced similar, if less dramatic, run-ups in their currencies in 2009, and Latin America remains the region to watch in 2010. Greg Anderson, director of currency strategy at Société Générale Global Markets in New York likes Mexico best, noting its peso could repeat the performance of last year's hottest Latin-American currencies, helped by comparatively high interest rates, currently at 4.5% but expected to trend upwards to 5.75% by year end. Also, Mexico's government is pursuing a hands-off approach to currency markets...
Société Générale also likes Turkey and South Korea among emerging-market economies and Australia and New Zealand in the developed group...
...BlackRock report said that five of the six biggest creditors of AIG's financial-products division would have been willing to end the contracts for less than face value. French bank Société Générale, which was AIG's largest CDS counterparty, for instance, according to Blackrock was willing to unwind the bond insurance its had bought from AIG on its lowest quality bonds for 90 cents on the dollar, or for 10% less than what AIG had originally promised to pay. About 30% of the $16.4 billion in CDS contracts that SocGen had bought...