Jan.2010 - Monthly Investment Letter - Bank Dominick. Investment Letter is, as every year, dedicated, first, to an analysis of the movements of the past 12 months and, second, to Bank view of the trends in the financial markets in the coming year
A year ago our main statement was: Af-ter the severe drop 2008 and from the overwhelming pessimism at the time the situation of the markets can almost only improve. This expectation has, despite the further aggravation of the financial crisis until March 2009, proved to become correct. Today we are modestly optimistic with respect to the further development of the financial markets on average; the recovery thus will continue, but much more slowly than in the past months. Read Full Document (pdf)
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Emerging-market equity and bond funds closed 2009 with record annual inflows as a recovery from the global financial crisis boosted demand for riskier assets, EPFR Global said. Emerging-market equity funds received $64.5 billion while those investing in developing-nation bonds drew more than $8 billion, also an all-time high, EPFR said, citing initial figures from funds reporting daily and weekly
Iceland leader vetoes bank bill: Iceland’s president has refused to sign a controversial bill to repay $5bn (£3.1bn) to the UK and the Netherlands. President Olafur Ragnar Grimsson said he would instead hold a referendum on the bill, following public protests. The legislation was designed to compensate governments forced to bail out their savers with Icesave accounts following Iceland’s banking collapse