Archive for July, 2013
ElBaradei, Egypt’s champion for democracy, couldn’t get elected in 2011 so jumps at chance to take on PM role (undemocratically of course)
- Published on Monday, 08 July 2013 10:46
- 0 Comments
Mohamed ElBaradei, the former head of the International Atomic Energy Agency and Nobel Peace Prize laureate, lost the election in 2011 to Mohammed Morsi. He has been a champion for democracy in Egypt during the Mubarak days and was spotted in Tahrir Square early on during the protest in 2011. Since then, he’s gone on to search for a meaningful role to play in Egyptian politics. Last week he thought he finally had his chance; the seat of Prime Minister was being offered to him. However, there were a few bumps in the road…
Egyptians celebrate as democracy is taken away from them
- Published on Thursday, 04 July 2013 05:42
- 0 Comments
Source: New York Times
Last night Egypt’s military kept its word and remove President Morsi and his Brotherhood party from office. It was a swift military coup that saw the immediate removal of Egypt’s first democratically elected president in decades. Egyptians cheered as the main thing they fought for during the revolution was taken away from them.
Is the emerging markets party over?
- Published on Monday, 01 July 2013 12:26
- 1 Comment
Source: Yahoo Finance EEM: iShares MSCI Emerging Markets – PEMPX: Pimco Emerging Markets Bonds – PNMA: PowerShares MENA Frontier Countries
Since the Financial Crisis of 2008, emerging markets have been pushed and promoted as the world’s new growth engine. As bond yields in developed markets dropped closer and closer to zero, institutional investors circled the globe in search of higher yields. Fresh billions flowed into emerging markets, which lead to a dramatic drop in bond yields as investors piled in (see our earlier posts here and here) making it cheaper and cheaper for these markets to borrow. So they borrowed, borrowed and borrowed some more. Now it appears that emerging markets have lost steam. From the chart above you can see that both emerging market bonds and stocks underperformed the S&P 500 over the past two years.