With the sell-off in EM currencies deepening, Delphine Strauss, currencies correspondent, asks Koon Chow of Barclays Capital, what is driving investors’ behaviour, how currency weakness will affect other assets – and which countries might welcome depreciation.
President Obama has just delivered his State of the Union speech to Congress. As usual, it was full of uplifting stories and calls for action, punctuated by standing ovations. But many believe that the sad reality is that this is a presidency that is running out of steam, and some of what Mr Obama had to say about the State of the Union was actually quite bleak. In this week’s podcast, Gideon Rachman is joined by Richard McGregor, Washington bureau chief and Edward Luce, chief US commentator, to assess the speech and the state of the presidency in general.
The banking team dissects Davos, including Mark Carney’s about turn on forward guidance, discusses Credit Suisse’s move to offer a wipeout bond as a bonus, and questions British banks’ IT systems as Lloyds falls victim to the latest failure
With sterling at a 2 1/2 year high against the dollar, Delphine Strauss, currencies correspondent, asks John Normand, currency strategist at JP Morgan, what to expect next from the Bank of England’s forward guidance. Also, how can investors differentiate between commodity currencies, and is China’s ever-appreciating renminbi set for a fall?
World powers are gathering in Switzerland in an attempt to find a diplomatic solution to Syria’s three-year civil war, which has cost more than 130,000 lives drawn in regional powers to fight a proxy sectarian war. The conference nearly fell apart before it began when the UN invited Iran to participate. But what chance of success remains? Roula Khalaf, foreign editor, and Borzou Daragahi, Middle East correspondent, join Ben Hall to discuss.
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