http://www.athensnews.gr/portal/1/56199 Pre election polls show small edge of ND against Syriza. Seem likely to me that either ND will win(They might or might not able to form a government) or Syriza will win but fail to form a goverment. In those scenarios the bailouts will continue(through the temporary government or ND)
ND and Syriza will form a coalition and are already (behind the scenes) divvying up government positions. HKD spiked higher (then fell back) overnight as Lam (who brought the peg in) says it may no longer serve the public interest.
Nice return volley from the bulls today. Extra points for stepping up so quickly on the heels of Monday's debacle. May look to establish some trend positions in gold miners tomorrow. Soros test is looking like a pass...
Ex HK CB Chief calls for review of the peg system http://www.igef.cuhk.edu.hk/igef_media/working-paper/IGEF/igef_working_paper_no_9_eng.pdf At the same time he says its likely to take a crisis to get the authorities to do something about it. I agree, I will monitor the situation there and take a huge position on the HKD when there is some kind of crisis situation. Currently the economic concerns plus China's easing bias makes it unlikely to me that they would change the system in any meaningful way(It would be like hiking rates but potentially worse) Its a shame their language is so foreign to me, if I were reading their newspapers and knew the authorities more closely I could potentially make a fortune predicting them, since I don't I will be forced into a guessing game If anyone know whats the best way an english speaking person can keep up to date with the developments in Hong Kong, let me know
Best 5 min summary and solution I've seen for the EU crisis in a long time http://www.bloomberg.com/video/94519953-darda-on-ecb-response-to-european-financial-crisis.html