Articles by Yusuf Yassin
Germany backs new EFSF powers
Concerns over firepower of European Financial Stability Facility remain despite its new enhanced powers after Berlin passes new legislation with majority vote
Long-term yields plunge as Fed initiates Operation Twist
Federal Open Market Committee to buy $400 billion in long-term government bonds in exchange for shorter-dated paper as yields on 10- and 30-year Treasury bills decline
Italy unfazed by S&P downgrade
Standard and Poor's downgrades Italy's credit rating by one notch to A; Italian government slams move, reaffirms confidence in fiscal reforms
Central banks open new chapter as large net gold buyers
Thomson Reuters GFMS Gold Survey 2011 shows net official purchases of gold rose to more than 200 tonnes during the first half of the year; forecasts gold to reach $2,000 by year-end
European Commission to consider euro bond options
European Commissioner José Manuel Barroso says options for common eurozone bond will be reviewed; Bundesbank's Jens Weidmann says bond would lead to "socialisation" of debt
US lawmaker presses for change to FOMC voting system
Congressman Barney Frank to introduce bill that calls for replacement of regional Fed presidents on FOMC with four external members; calls Fed presidents a "self-perpetuating" group
China moves closer to renminbi inclusion in SDR
Comments by Chinese officials hinting renminbi will be fully convertible by 2015 open door to inclusion of currency in IMF’s special drawing rights basket
German courts stand by Greece bailout
Federal constitutional court rules Greece bailout as legal; clears way for establishment of eurozone bailout vehicle; says parliamentary budget committee must authorise future budgetary plans
Riksbank postpones rate hike on weaker global outlook
Riksbank votes to hold rates at 2% amid concerns over public finances abroad and deterioration in global growth; central bank revises downward repo path
SNB faces battle to maintain franc currency floor
Swiss National Bank pledges to set minimum euro exchange rate at Sfr1.20; analysts express concern over central bank’s ability to maintain exchange rate floor
Greece may not opt for debt swap
Greek authorities say they will not agree to private-sector involvement unless 90% of eligible government bonds are included in transaction
European markets plummet as bank taps ECB dollar swap line
European Central Bank extends $500 million loan to unknown bank as equity markets move lower on concerns over health of banking sector
King sees severe threat to UK financial markets
Bank of England governor Mervyn King says fiscal sustainability of European sovereigns continues to pose severe threat to UK financial system
Germany denies eurobond option
Talk of a common bond for the euro area dominates discussions ahead of meeting with European leaders on economic governance reform; Germany says topic will not feature on agenda
Swiss franc falls on euro peg talk
Swiss franc loses 6.7% against the euro and 6.1% against the dollar as markets digest comments by Swiss National Bank vice chairman Thomas Jordan
BoE offers gloomy UK growth outlook
Bank of England revises downward gross domestic product forecast for 2011 to 2% after “sluggish growth” outlook; governor Mervyn King says future commitment to low interest rates is not an option
Bond markets rally as ECB moves on Italian and Spanish debt
Yields on Italian and Spanish debt fall as European Central Bank signals it will actively implement its bond purchase programme
Barroso calls on eurozone to speed up completion of EFSF legislation
European Commission president José Manuel Barroso says member states must accelerate implementation of EFSF reforms as eurozone sovereign debt crisis spreads beyond the periphery
Ex-MPC members debate QE options
Bank of England former Monetary Policy Committee members discuss scope for further asset purchases in the UK
Markets turn to periphery in wake of Greek package
Yields on Spanish and Italian debt edge higher as markets remain uncertain over the wider impact of Greece's bailout on peripheral countries
Fitch sees default ahead for Greece
Rating agency says Greece will default on its debt after European heads of state agree on €109 billion bailout plan for Greece with private sector involvement and more scope for EFSF assistance
Euro area leaders face tough choices over Greece
Crucial euro area summit to address funding of second Greece bailout to be held; terms for private sector involvement on agenda
Pakistan accepts governor’s resignation
State Bank of Pakistan governor Shahid Kardar's resignation confirmed, ending days of speculation over his future at the central bank
EBA sovereign scenarios under scrutiny
European Banking Authority stress tests reveal eight banks failed to meet 'tougher' 5% core Tier I capital ratio amid concerns over sovereign risk scenarios