Swap Rates – Hardouin http://hardouin.info/ Fri, 23 Sep 2022 20:56:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 Weekend briefing; Storm in global markets intensifies, few spared https://hardouin.info/weekend-briefing-storm-in-global-markets-intensifies-few-spared/ Fri, 23 Sep 2022 20:56:00 +0000 https://hardouin.info/weekend-briefing-storm-in-global-markets-intensifies-few-spared/

Here’s our roundup of the major overnight economic events affecting New Zealand, along with financial market news.extreme fear‘ as they face mounting losses on stocks and bonds. The US dollar pushes even higher and ferociously spreads financial problems to emerging economies. The NZD plunged.

UK tax cuts have collapses the British currency.

Commodity prices are falling.

But surprisingly, through all this turmoil which is compounding the pain of Ukraine’s invasion, all EU countries and leaders remain united in confronting Russian threats and challenges – with the almost sole exception of Hungary. . It seems they are united to bear the pain that will come with winter. Putin had counted on a fracture, but that does not happen. Given the EU’s penchant for disagreements and slights, this is an impressive show of solidarity. But all this could also be threatened by the rise of fascist parties in Italy, where elections are taking place this weekend.

First, there were a few early PMIs overnight. the american reported private sector production fell at a slower pace as new orders returned to growth in September. Their manufacturing sector grew in September, but not their services sector, although the contraction was very minor.

Canada reported retail sales activity for July overnight and it was not positive with both monthly declines (their first in seven months) and year-over-year retreats.

In China, home loan interest rates have fallen to record lows in at least 80 major Chinese cities as financial regulators scramble to keep the property market afloat. In September, more than 80% of the 103 key cities interrogates show that first home lending rates fell to 4.1%, while second home lending rates fell to 4.9%.

Singapore Annual inflation has increased to 7.5% in August, which was higher than the 7.2% expected by analysts, and higher than the 7.0% they had in July. Generally, ASEAN inflation is something to watch, and the rising US dollar won’t help. Malaysian inflation is on the rise and stands at 4.7%. Indonesia is also at 4.7%. Thailand is at 7.9%.

Taiwan’s inflation rate is low (like China’s) and currently stands at 2.8%. But their retail sales activity increased by +12% compared to a year ago, and their industrial production reached record levels.

The first Eurozone PMI for September reported a steeper decline as price pressures intensified. Their factory and service sectors are contracting this month, but the quantum is quite low at this point. The negative impacts are strongest in Germany. French activity is positive and contributes to maintaining the overall results.

Early Australian PMI indices show that their manufacturing sector is growing at a good pace in September and faster than in August. But their service sector is not the image of this, more or less trampling.

But much of Australia is exposed to mining and commodity prices are falling. Today, the rating company Moody’s has changed his outlook for the global metals and mining industry from stable to negative as a global economic slowdown continues to dampen demand.

The UST 10-year yield starts today at 3.70% and is unchanged from the same time yesterday, but at one point it hit 3.81%. But even at current levels, it’s still at its highest since 2010. A week ago it was at 3.46%, so it’s up +24bps since then. The UST 2-10 yield curve is more inverted at -41 bps. But their 1-5 curve is much less inverted at -17 bps. And their 30-day-10-year curve flattened to +105 basis points. Australia’s 10-year bond is higher, up +6 basis points to 3.91%. The ten-year Chinese government bond is up +2 basis points to 2.71%. And the New Zealand 10-year government will start today at 4.16%, up +16 basis points from the same time yesterday.

At the close of yesterday’s session, local swap rates climbed higher again.

In Friday’s trading on Wall Street, the S&P500 fell another -2.0% as the revaluation of stocks continues. This means that it is down -4.4% over the week and -23% since the peak at the start of the year. The drop of -1120 pts since this peak is its biggest drop in history, surpassing the drop of -1077 pt at the start of the pandemic and the drop of -716 pt in the GFC. European overnight markets all closed another -2%. London fell -3.6% over the week, Frankfurt fell -3.2% over the week and Paris fell -4.4%. Yesterday, Tokyo ended down -0.6% to be down -2.6% for the week, Hong Kong closed down -1.2% and down -4.1% for the week. week, and Shanghai closed down -0.7% for a weekly decline of -1.1%. The ASX200 was down -1.9% on Friday for a weekly retreat of -3.9%. The NZX50 was not spared, ending down -0.7% on the day to fall almost -1.4% on the week. The NZX50 was the least worst of all stock markets, a dubious distinction for investors.

The price of gold will open today at US$1642/oz. This is down -30 USD from the same time yesterday.

And oil prices start today very sharply lower -4.50$ from yesterday to just under 79$/bbl in the United States, while the international price of Brent is now just in below US$84.50/bbl. These are eight-month lows.

The Kiwi Dollar will open today just at 57.4 USc and more than -1 lower than yesterday at this time. It’s its lowest since briefly in the early days of the first pandemic lockdown, and before that 13 years ago. Against the Australian dollar, we are slightly firmer at just AUc 88.1 and still close to its seven-year low. Against the euro, we are changing little at 59.3 euro cents. Against the yuan, we fell to ¥4.1 and its lowest since 2015 (barring the pandemic). All of this means that our TWI-5 starts today at 67.9, and drops -50 basis points in one day and also to seven (also excluding the pandemic). ).

Bitcoin price is now at US$18,753 and is down -1.7% from the same time yesterday. It has been below US$20,000 for six consecutive days. A week ago it was at US$19,606. Volatility over the past 24 hours has been subdued at just +/- 2.6%.

The easiest place to keep up to date with the risks of events today is to follow our economic calendar here.”

Select chart tabs


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NIO Boosts EV Battery Leases and Exchange Stations Across Europe https://hardouin.info/nio-boosts-ev-battery-leases-and-exchange-stations-across-europe/ Thu, 22 Sep 2022 16:15:00 +0000 https://hardouin.info/nio-boosts-ev-battery-leases-and-exchange-stations-across-europe/

Chinese electric vehicle automaker NIO has already rooted its flag in European soil, but is only just getting started with its plans to expand beyond its home turf. The company’s president recently announced that NIO plans to offer battery rental programs and a huge expansion of available swap stations as a strategy to attract more European customers and gain a larger share of the growing battery market. electric vehicles abroad.

NIO is a Chinese technology company specializing in high-end electric vehicles that is now beginning to expand outside of China into new markets in Europe. In addition to providing an all-electric range of SUVs and sedans, NIO remains at the forefront of implementing battery swap technology to support its electric vehicles.

The automaker currently has more than 1,000 exchange stations in China alone and has started implementing them in its new markets. It may one day license the technology to other automakers as well. It recently announced that its third-generation stations have the ability to store energy and send it back to their respective power grids.

In Europe, NIO already sells and delivers electric vehicles in Norway and is expanding sales in Germany this year. Moreover, it has already shared additional expansion plans following the first overseas shipments of its ET7 sedan:

NIO ET7 has set sail in Europe and will be open for reservation and delivery in Germany, the Netherlands, Denmark, Sweden and Norway, providing more European users with a full service system and benefiting from an enjoyable lifestyle.

As NIO expands its footprint in the EU, it seeks to compete with local legends like Mercedes-Benz and BMW, but it has implemented a unique strategy that it hopes will set it apart from its EV rivals.

New ET7 sedans are loaded at a port in China ahead of their trip to Europe / Source: Weibo/NIO

NIO plans 1,000 exchange stations by 2025, mostly in Europe

According to a recent report by ReutersNIO hopes to capture a larger share of the electric vehicle market in Europe by offering consumers lower prices through battery rental programs, supported by an extensive network of electric vehicle battery exchange stations.

According to NIO chairman and co-founder Qin Lihong, the automaker plans to erect 1,000 battery swap stations outside of China over the next three years, most of which will be in Europe to support its expansion. electric vehicle sales in markets like Germany and beyond.

Over the past year, NIO has tested its battery rental and swap station business in Norway with its ES8 SUV – its first model to be sold outside of China. NIO says it has sold 800 ES8s so far, but only installed two swap stations. Almost all customers in Norway have opted for battery leasing.

As a foreign company trying to compete with some European car manufacturers that are approaching their centenary of existence, NIO wants to cut costs so that consumers give them a fair look. Regardless of this uphill battle for brand recognition, Qin remains confident in NIO’s technology:

We are far ahead of our competitors in terms of products and services. It’s true that there will be more EV models launching in Europe in three years, but we are also making more progress.

Qin said NIO’s first overseas factory opened in Hungary this week and will manufacture battery swap stations for the European market because shipping them from China is too expensive. If NIO can set up sufficient battery swapping infrastructure in Europe, it could offer a huge selling point to EU consumers, as they don’t have to buy an expensive EV battery, have the warranty of a fully charged battery with every swap and are back on the road much faster than a stop at a charging pile, even if it’s a DC fast charger.

Finally, Qin shared that part of NIO’s strategy for Europe includes finding a specialist asset management partner to finance the ownership of batteries for lease to EU customers, especially more than these customers inevitably increase with its planned expansion of the market.

Next, NIO will begin rolling out its ET7 and ET5 sedans in Europe while continuing to expand its network of battery swapping stations. Beware of Mercedes, BMW and VW, as NIO’s chairman says he already has a tech lead and is picking you up from home:

It’s like two runners following in their footsteps. If you have a good lead, you just have to keep your own pace.

FTC: We use revenue-generating automatic affiliate links. After.


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Soaring mortgage rates are pushing home buyers back. But should higher interest rates keep you from buying a home? https://hardouin.info/soaring-mortgage-rates-are-pushing-home-buyers-back-but-should-higher-interest-rates-keep-you-from-buying-a-home/ Sun, 18 Sep 2022 17:32:33 +0000 https://hardouin.info/soaring-mortgage-rates-are-pushing-home-buyers-back-but-should-higher-interest-rates-keep-you-from-buying-a-home/

Image source: Getty Images

It’s easy to see why buyers are backing off.


Key points

  • Mortgage demand is down 29% from a year ago.
  • With 30-year loan rates exceeding 6%, it’s easy to see why.
  • Consider your personal circumstances when deciding whether to buy now or wait.

Last year house prices were at record highs and housing inventories were limited. This year, conditions have been similar – but there has been a key difference between the housing market of 2021 and that of 2022.

In 2021, home buyers could benefit from low mortgage rates. In fact, rates were low enough to help offset some of the rising home prices seen by buyers.

This year, however, mortgage rates have risen steadily since January. And recently, the average 30-year mortgage passed the 6% mark. So it’s no shock to learn that purchase mortgage applications are down 29% from the same time last year, according to new data from the Mortgage Bankers Association.

But are higher mortgage rates a reason to put your home buying plans on hold? Or should we still go ahead?

Why you might want to pause your home search

It’s not just that mortgage rates are higher right now, it’s that house prices are still very high. Certainly, we are starting to see a slowdown in the rise in house prices, which is a good thing for buyers. But all told, buying a home is a very expensive prospect these days, and buyers have to deal with the double whammy of higher prices. and higher borrowing rates.

If you are financially hesitant about buying a home, you may want to consider putting your plans on hold and waiting for home prices to come down. This could happen in 2023 if housing stock continues to rise, which it has been doing for the past few months.

Check out: We ranked this company as the best overall mortgage lender in our Best-of 2022 awards

More: Our picks for the best FHA mortgage lenders

Why you might still want to buy a house now

It is true that if you buy a house by the end of 2022, you could end up paying a lot and end up with a higher mortgage rate than you would like. But if you’re in a stable financial situation — say, you’ve got a great job, lots of savings, and plenty of money for a down payment — then you might want to take the plunge into home ownership and start enjoy the benefits. These include the ability to build equity, take advantage of tax breaks such as deductible mortgage interest, and not having to follow a landlord’s rules.

Also, while mortgage rates may be high right now, we don’t know where they will be in two or three years. So even if you initially face higher borrowing costs, you can still look to refinance your mortgage if rates start to drop. So if, for example, you end up signing a 30-year mortgage at 5.9%, you might be able to swap that mortgage for a new one at 4.2% in a few years, lowering your monthly payment.

What’s the right call?

In the end, it’s easy to argue that you shouldn’t buy a home right now because of rising home prices and mortgage rates. But if you’re really keen on owning and you’re in a good financial position, it might be advantageous to buy in the short term, regardless of those economic conditions.

The Best Mortgage Lender in Ascent in 2022

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This is where Better Mortgage comes in.

You can get pre-approved in as little as 3 minutes, without a credit check, and lock in your rate at any time. Another plus? They do not charge origination or lender fees (which can reach 2% of the loan amount for some lenders).

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AirSwap Price Prediction | Is AirSwap a good investment? https://hardouin.info/airswap-price-prediction-is-airswap-a-good-investment/ Fri, 16 Sep 2022 16:26:58 +0000 https://hardouin.info/airswap-price-prediction-is-airswap-a-good-investment/
AirSwap promises low transaction fees and secure transactions – Photo: Shutterstock

The Decentralized Exchange (DEX) Air Swap had a successful month of August with a transaction volume of $159 million.

His AST The token also appears to benefit from this in the short term, as it was trading up 47% over the past week, at the time of writing.

But this comes in the middle of a long-term downtrend. As of September 16, the AST was down 42% year-to-date. However, some forecasters, including Gov Capital and DigitalCoinPrice, have suggested that air swap may escape this long-term downward trajectory.

What is AirSwap?

AirSwap offers investors a platform to trade tokens. The peer-to-peer network was built on the Ethereum (ETH) blockchain with a mission to power secure, simple, and cheap transactions. Its supporting documentation said:

“Our vision is a future where all forms of value are represented as digital assets and flow freely and reliably between people and communities around the world.”

The network opted for a peer-to-peer system because it “protects traders against counterparty risk, price slippage and front running.”

There are several protocols and smart contracts used by AirSwap. These include the Request for Quote (RFQ) which allows orders with expiration dates and the Automated Market Maker (AMM) protocol, Last Look.

How do you feel about AST/USD?

Vote to see the sentiment of traders!

AirSwap CAD

AirSwap decided to use a Decentralized Autonomous Organization (DAO) to manage its network. Its documentation adds:

“Anyone can join, contribute and earn as a member of our development community. Everything we build is aligned with our mission and generally measured by a positive impact on network health and trade volume.”

The native cryptocurrency that powers the DAO goes through the AST ticker handle. Holders can stake their tokens and participate in AirSwap Improvement Proposals (AIPs).

Participants will gain yield when they lock in their tokens to vote, as proposals can take four days before a final result is reached.

The network also rewards contributors for completing their work on the network.

Past performance of AST

The airswap token went live on October 17, 2017 with an opening price of $0.35. After fluctuating around the $0.20 mark, it had its biggest rally yet in January 2018, alongside the broader bull market.

AST reached its all-time high of $2.08 on January 10. It almost immediately corrected and closed the month at $1.07.

Apart from a peak in April of that year, the downtrend continued with some air trading over the next three years. It fell to its all-time low of $0.007 on March 13, 2020.

AST/USD price chart, all-time performance

Source: CoinMarketCap

Apart from a surge in August 2020 to reach a daily high of $0.31 on August 18, the price of AST started to rise again in 2021, opening the year at $0.068. AirSwap introduced governance features to its platform in February, which brought more utility to the token.

One of the first AIPs went live in March, which added more regulation around AST rewards sent to stakers. The token reached a high of $0.74 on March 29.

The AST climbed again later in the year. This accompanied the launch of AirSwap’s “first full web application”, which was open-source and decentralized. The AST reached a high of $0.63 on November 23, which quickly fell.

Airswap fell in line with the 2022 crypto bear market. It fell below $0.20 in January and $0.10 in late May.

At the time of writing on September 16, AST had managed to make gains and was trading at $0.14, up 47% over the past seven days.

This follows a successful August on the peer-to-peer network, which was reported in a Medium blog that the DEX recorded a trading volume of $159 million with 32 million ASTs staked.

Airswap Price Prediction Roundup

At the time of writing, some forecasters expected the air swap to continue its current rally.

The Parts Codex The AST price prediction indicated that there was bullish sentiment with 25 technical indicators showing “buy” and only four bearish signals.

Its short-term price prediction for air trade for 2022 suggested it could have climbed 20% to near $0.18 on October 15.

In the same way, DigitalCoinPrice predicted the AST to average $0.20 this year. Its air trade price forecast for 2025 indicated that it could have reached $0.61 and $2.11 in 2030.

Gov Capital The Airswap crypto price prediction stated that it could have reached $0.20 in one year and $0.44 in five years.

Price prediction was even more optimistic with its long-term forecast. He said that the AST could have reached an average of $0.40 in 2025. His air trade price forecast for 2030 estimated that it could have reached $2.52.

When reviewing an air exchange coin price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict the price of a coin or token in a few hours, and even more difficult to give long-term estimates. As such, algorithm-based analysts and forecasters can and do get it wrong in their predictions.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Read the latest market trends, news, technical and fundamental analysis and expert opinions before making any investment decisions. Keep in mind that past performance does not guarantee future returns. And never trade with money you can’t afford to lose.

FAQs

Is airswap a good investment?

Airswap is a peer-to-peer decentralized exchange that offers secure and cheap transactions. It is managed by a DAO, made up of AST token holders.

In volatile cryptocurrency markets, it’s important to do your own research on a coin or token to determine if it’s a good fit for your investment portfolio. Whether the AST token is a suitable investment for you depends on your risk tolerance and the amount you intend to invest, among other factors. Keep in mind that past performance does not guarantee future returns. And never invest money you can’t afford to lose.

Will air exchange increase or decrease?

There are optimistic forecasters including DigitalCoinPrice which has anticipated a new price record for AST. But you have to remember that price predictions are very often wrong.

In volatile cryptocurrency markets, it’s important to do your own research on a coin or token to determine if it’s a good fit for your investment portfolio. Whether airswap is the right investment for you depends on your risk tolerance and the amount you intend to invest, among other factors. Keep in mind that past performance does not guarantee future returns. And never invest money you can’t afford to lose.

Should I invest in airswap?

Airswap is up 47% in the past seven days, but it’s also important to remember that it fell victim to the 2022 crypto bear market.

Whether you should invest in AST is a question you will have to answer for yourself. Before doing so, however, you should do your own research and never invest more money than you can afford to lose, as prices can go down as well as up.

Further reading

A visualization of the CAKE piece

Ellipsis logo isolated on night light earth world map background.

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Revamp your indoor garden with the Newmarket Community Plant Swap https://hardouin.info/revamp-your-indoor-garden-with-the-newmarket-community-plant-swap/ Mon, 12 Sep 2022 16:46:07 +0000 https://hardouin.info/revamp-your-indoor-garden-with-the-newmarket-community-plant-swap/ September 14 event supports Newmarket Public Library’s Seed Library

Take a plant, leave a plant. A community plant swap at the Newmarket Public Library this week will give local green thumbs the chance to update their indoor garden and also learn new tips and tricks.

On Tuesday, September 14 from 4-8 p.m., the library invites “enthusiastic plant lovers” to bring up to five houseplants or cuttings to swap with others.

“Diversify your plant collection by getting something new and chatting with like-minded people who love having greenery around the house. Not only will you be able to swap houseplants and/or cuttings with other others, but you’ll enjoy having conversations about growing techniques and getting tips on how to care for any new plants you acquire,” the library’s website says.

The Plant Swap is open to anyone 18 and older and has a $5 entry fee that will go to the library’s seed library.

The Seed Library, located on the lower level of the Newmarket Public Library, is a partnership with the York Region Food Network to encourage people to grow their own produce at home.

Gardeners do not need a library membership to borrow seed packets. You simply visit the seed library and subscribe to up to three packages at a time.

The program runs on donations. If you collect seeds during harvest, you can bag and tag them to donate, you can donate unopened retail seed packets, or even partially used retail seed packets. Donations can be dropped off at the adult services information desk.

Proceeds from the plant exchange will also be used to purchase seeds for the seed library and support this program.

The Community Plant Exchange takes place in the Multipurpose Room of the Newmarket Public Library at 438 Park Avenue. You can register for the event online and your $5 registration fee can be paid at the door.

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Electric Vehicle Switching Stations Market Overview 2022-2028, Applications, Dynamics, Companies, Growth, Types, Regions https://hardouin.info/electric-vehicle-switching-stations-market-overview-2022-2028-applications-dynamics-companies-growth-types-regions/ Sat, 10 Sep 2022 05:04:43 +0000 https://hardouin.info/electric-vehicle-switching-stations-market-overview-2022-2028-applications-dynamics-companies-growth-types-regions/




The study focuses on the primary growth factors and developments that will help the market maintain its momentum. The study includes a detailed overview of growth trends as well as a comprehensive evaluation of sales opportunities across main goods, application/end-use industries, and technology segments in different regions. It gives a detailed picture of the different segments’ shares or sizes in every year of the market growth. The Electric Vehicle Swap Station evaluation of growth trends includes year-over-year growth in key geographies as well as gradual prospects in several key countries.

The Electric Vehicle Swap Station market research study examines the key growth trends that are projected to impact the industry's trajectory between 2022 and 2028. The report outlines the growth accelerators, inhibitors, and other possible expansion routes that are likely to influence the growth direction of this sector during the study period.

According to a research report, shareholders who are considering investing in this sector of the economy should expect high profits. The report also provides a thorough examination of the market's key segmentations, as well as a detailed description of the industry's remuneration scope.

Request Sample Copy of this Report @ https://www.newsorigins.com/request-sample/61012

Key inclusions of the Electric Vehicle Swap Station market report:

  • The research covers sales volume, volume, market expansion, market size, and revenue scale.
  • The manufacturing capacity of each region has been highlighted.
  • The document examines current and historical trade trends.
  • Market expansion prospects
  • The document compares the advantages and disadvantages of direct and indirect sales channels.
  • Major wholesalers, retailers and distributors in this industry are extensively covered.

Electric Vehicle Exchange Stations Market Segments Covered in the Report:

Regional segmentation: North America, Europe, Asia-Pacific, South America, Middle East and Africa

  • The report assesses market shares at regional and country level.
  • Market share, profitability, and total sales are all included in the research report.
  • Revenue and growth rate forecasts are presented for each regional market.

Type of product : Sub-box replacement and chassis exchange

  • Prices for each product category are discussed.
  • Market shares and growth prospects are thoroughly discussed.
  • The study includes an in-depth assessment of the compensation range.

Application Spectrum: Passenger car and utility vehicle

  • The document discusses revenue ranges and profit margins.
  • Product prices for various application methods are underlined.

Competitive outlook: Aulton New Energy, Lifan Technology (Group) Co., Ltd., Hangzhou Botan Technology Engineering Co. Ltd., Shanghai Enneagon Energy Technology Ltd., Nio Power, BAIC BluePark New Energy Technology Co., Ltd., Shandong Weida Machinery Co. , ltd. , Geely Automobile Holdings Limited and BOZHON

  • Overview of key market players.
  • This research provides information on each company’s compensation, profit, pricing policies, and market share.
  • Partnership agreements, mergers and acquisitions, and new product launches are examples of strategic engagements.
  • The market concentration ratio of each market player is calculated.

FAQs-

  • What growth rate is the Electric Vehicle Switching Station market expected to register till 2028?
  • What are the key segments of the Electric Vehicle Exchange Station market?
  • – What are the types of applications of the Electric Vehicle Exchange Station market?
  • What is the geographical scope of the Electric Vehicle Interchange Station market?

The Global Electric Vehicle Exchange Stations Market report provides insights into the pointers below:

  • Market penetration: Provides comprehensive market insights offered by major players
  • Market development: The report offers detailed information on lucrative emerging markets and analyzes penetration in mature segments of the markets.
  • Market Diversification: Provides detailed information on untapped geographies, recent developments and investments
  • Assessment of the competitive landscape: The mergers and acquisitions, certifications, product launches in the global Electric Vehicle Interchange Station market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of key players.
  • Product development and innovation: The report provides intelligent insights into future technologies, R&D activities and breakthrough product developments

Some of the key questions answered in this report:

  • What are the global (North America, Europe, Asia-Pacific, South America, Middle East & Africa) sales value, production value, consumption value, import and export of Station? exchange of electric vehicles?
  • Who are the global key manufacturers of the Electric Vehicle Exchange Station market? What is their operational situation (capacity, production, sales, price, cost, gross and revenue)?
  • What are the Electric Vehicle Interchange Station market opportunities and threats faced by the vendors in the global Electric Vehicle Interchange Station Industry?
  • What application/end user or product type may seek additional growth prospects? What is the market share of each type and application?

Customization request for this report @ https://www.newsorigins.com/request-for-customization/61012

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The bizarre job swap that propelled Australia to the top of the world https://hardouin.info/the-bizarre-job-swap-that-propelled-australia-to-the-top-of-the-world/ Fri, 09 Sep 2022 09:20:45 +0000 https://hardouin.info/the-bizarre-job-swap-that-propelled-australia-to-the-top-of-the-world/

“We are in privileged positions where we are able to coach national teams in a game that we love, so you keep going, you love your job, you work hard and you get there.

“Results to date have taken care of themselves, and it’s a credit to the program and how the players and staff have behaved through the transition and not come to a conclusion. agreement on this.”

Australia celebrate their gold medal in Rugby 7s at the Commonwealth Games.Credit:Pennsylvania

Manenti said the success of 2022 was due to the hard work in the years leading up to the coaching swap.

“Both programs were really well put together before the change. Obviously, Tim and I have slightly different skill sets, but whatever has been done, we were able to strengthen both groups by bringing our skills on top of what was already there,” Manenti said.

“The foundation and hard work for both programs started after Tokyo and was built on the back of disappointment and so on, but also the need to be better.

“Both came out of very good tournaments in the double headers in Dubai to start the season and then obviously we changed and continued to go with both programs. But obviously it was a great move by RA but probably the behind-the-scenes work of the previous period of (performance director at seven) Scotty (Bowen) and others paved the way.

The victory was Australia's first gold medal in rugby sevens at the Commonwealth Games.

The victory was Australia’s first gold medal in rugby sevens at the Commonwealth Games.Credit:Getty

The historic achievement for Manenti’s men came after the program was significantly reduced, with just eight players under contract and others drawn from club ranks and fringe Super Rugby teams. It was a throwback to the old Australian Sevens structure and the fresh, ambitious energy complemented veterans like skipper Nick Malouf perfectly. Stars like Corey Toole emerged.

“It’s been a great year to see some young guys take their opportunity. The basis of what we have been able to do this year has just been hard work,” said Malouf. “It’s been a great year to be able to look back at where we started and where we are now. But we really want to make sure we finish with a great result here (at the World Cup). »

The best World Cup finish for the Australia men’s sevens team is second place, in 1993 and 2001.

Australia’s Olympic champion women’s team finished third in the Women’s World Cup in 2018; unable to match the Australian team’s victory of 2009.

“For our girls, we will have no excuses,” said skipper Charlotte Caslick.

“We’re not going to leave this tournament and say ‘well, we’re world champions or Commonwealth Games champions’, we want to have those three medals.”

The Australian women will begin their campaign against Madagascar on Friday evening (8:11 p.m.), and the men’s team will face the winner of Hong Kong against Uruguay a few hours later. Under a new knockout format, the tournament then goes straight to the quarter-finals.

Watch every match of The Rugby Championship on the House of Rugby, Stan Sports. All matches streamed ad-free, live and on demand on Stan Sport.

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Sri Lanka ‘radio silence’ on domestic debt restructuring after IMF deal: BC governor https://hardouin.info/sri-lanka-radio-silence-on-domestic-debt-restructuring-after-imf-deal-bc-governor/ Tue, 06 Sep 2022 23:52:27 +0000 https://hardouin.info/sri-lanka-radio-silence-on-domestic-debt-restructuring-after-imf-deal-bc-governor/

ECONOMYNEXT- Sri Lanka must maintain “radio silence” on the restructuring of national bonds as part of the process currently being followed by the International Monetary Fund to reduce debt to “sustainable” levels, the Governor of the Central Bank has said, Nandalal Weerasinghe.

Sri Lanka in April 2022 did not include domestic debt when the country defaulted after the biggest currency crisis in central bank history and two years of liquidity injections to suppress interest rates resulted in a loss of all its foreign exchange reserves and also of borrowed reserves.

Last week, Sri Lanka reached a staff-level agreement with the IMF involving macroeconomic adjustments that will increase tax revenue, temporarily reduce monetary instability until the next crisis under an intermediate monetary regime and structural adjustments.

“When we announced the debt freeze, we made it clear that our intention was to restructure the external debt because it was a balance of payments crisis,” Governor Weerasinghe said during a talk. -show hosted by Sri Lankan television Newsfirst.

“This is the position the government took in April. Going forward, because we started with the IMF staff agreement, because we officially started the debt restructuring process, we can’t talk about it.

“It’s called radio silence. This means that the authorities should not talk about the parameters of debt restructuring, whether it is restructured or not. Because it is unfortunately market sensitive. I cannot comment on this process.

It is not yet known what the IMF’s debt parameter is. According to information now in the public domain, the People’s Bank of China swap and the Bangladesh swap were included in an IMF debt sustainability analysis parameter.

Sri Lanka has not been allowed to blow up the trade with China on unsustainable imports and the money still remains in reserves.

Serious defect?

Uncertainty over whether or not domestic debt will be restructured, forcing a second haircut on top of depreciation and inflation, has discouraged investment flows into the domestic bond market, potentially exposing a serious loophole in the current permutation of a more or less elaborate debt resolution plan. by the US Treasury, IMF, Fed and Washington-based think tanks, analysts said.

The debt restructuring plans were drawn up in Washington in response to a series of sovereign defaults in the 1980s in Latin American countries with sterilizing (loosely pegged) central banks trying to conduct “countercyclical policy” with US Fed tightening cycles. which are pro-cyclical at the national level.

In the process, Argentina-style Latin American central banks with so-called soft pegs prolong the credit cycle and resist rate hikes by printing money to maintain a key rate followed by sterilizing interventions with new liquidity which then leads to loss of reserves, peg collapse and default.

Several plans have been concocted in Washington, including the “Baker Plan”, named after then-US Treasury Secretary James Baker, who is partly responsible for the “structural benchmarks” of current IMF programs.

Other debt resolution experiments in Latin America include Brady bonds, named after US Treasury Secretary Nicholas Brady, where bank loans were swapped for bonds as well as early permutations of what are known as now a haircut.

The principle was backed by deeply discounted 30-year U.S. “Brady bonds” purchased from bailout funds or remaining reserves.

The plans contained no serious attempt to restrain the loose policies of middle-regime central banks that led to currency shortages, sterilized interventions and defaults even when countries ran budget surpluses as in the case of Mexico.

Sri Lanka’s interest rates are now hovering around 30%, partly due to the loss of credibility of the peg which has yet to be restored – which is usually done through a float as a prior action in an agreement with the IMF, and also due to the lack of clarity on the treatment of rupee bonds, which created uncertainty.

Domestic debt restructuring leads to an effective default ending the gilt status of government bonds.

Sri Lanka’s position

Governor Weerasinghe has previously said Sri Lanka can achieve debt sustainability without restructuring rupee bonds.

Fitch Ratings said there was a high risk of default on local currency debt at its CCC rating.

Related

Sri Lanka’s domestic debt restructuring could erode net benefits: Fitch

Large volumes of which were bought by the central bank to trigger the currency crisis and the rest are held by employee provident funds and commercial banks, insurance funds and private holders.

Sri Lankan authorities have said haircuts on domestic bonds will cause problems at banks, delaying recovery and the ability to repay foreign bondholders.

Sri Lankan banks have taken a direct hit on their equity and are facing higher rates on deposits anyway and they also have to budget for dollar bonds in their portfolios.

Holders of rupee bonds are at a real “haircut” anyway, with depreciation and domestic inflation tending to inflate the economy and generate higher nominal tax revenue, while the real value of the debt is “discounted” or inflated.

In the current debt restructuring, various creditors are treated unequally. IMF, World Bank, ADB and AIIB debt is not restructured. Bilateral debt is restructured and discounts are granted for corporate bonds which are sometimes purchased at significant discounts on the secondary market.

The current uncertainty came after President Ranil Wickremesinghe noted that Sri Lanka’s debt advisers were considering possible domestic debt restructuring as part of their analysis of debt sustainability scenarios. (Colombo/07/09/2022)

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Warnings rise as rising rates put pressure on LDI https://hardouin.info/warnings-rise-as-rising-rates-put-pressure-on-ldi/ Mon, 05 Sep 2022 07:17:12 +0000 https://hardouin.info/warnings-rise-as-rising-rates-put-pressure-on-ldi/

Rising interest rates are placing unprecedented liquidity constraints on some of the UK’s largest corporate pension funds, the main users of LDI strategies. According to a recent research note from consulting firm Mercer, an increasing number of plans need to sell liquid assets like stocks and high-quality corporate bonds to raise funds in order to maintain the level of leverage needed to ensure that they can cover their liabilities.

“To keep leverage at acceptable levels, pooled LDI funds issue regular collateral calls,” says Daniel Melley, head of UK investments at Mercer. Leverage, or borrowing to gain greater exposure to inflation rates and movements, is used in LDI mandates for risk management purposes in relation to liabilities. It is also used to allow systems to purchase growth assets that otherwise would not be possible. But as interest rates rise, this results in losses on the gilt or swap assets held in these portfolios, which in turn leads to increased leverage ratios.

Stock

Responding to margin calls requires quick action, warns Melley. “In the short term, pension funds will need to respond to collateral calls from their LDI managers to protect coverage levels. The key point here is that eligible assets (usually cash/gilts) will need to be made available quickly, within days. This could be difficult, especially when the sale of growth assets has currency implications. »

Given that inflationary pressures in the economy are not expected to subside in the near term, it is likely that central banks will continue to raise interest rates. “If the pace exceeds market expectations, it will cause further stress on LDI portfolios,” predicts Melley. “A significant proportion (of pension funds) will need to move quickly to ensure they have dry powder to meet further collateral calls, should interest rates rise further.”

Additionally, James Brundrett, senior investment consultant and partner at Mercer, warns that since interest rate hikes this year have now exceeded the typical cushion put in place in LDI portfolios – a 1.5% increase in long-term returns from gilts – many pension fund collateral buffers have run out. “The pension fund guarantee is running out and we are seeing clients looking to replenish.”

The problem could not only turn pension funds into forced sellers. Some may not be able to hedge as much as they have and may have to accept lower levels of hedging if they run out of liquid assets that could be used to supplement their LDI strategies’ collateral. Indicate increased levels of risk and potentially wider implications from the perspective of commitment, funding, investment strategy and journey plan.

Positive

Positively, Brundrett points out that pension fund liabilities are also declining. Rising interest rates will also lower the value of liabilities, potentially reducing the size of deficits and increasing the impact of contributions. “As interest rates go up, hedges lose money, but liabilities also go down,” he says.

However, critics counter that the value of liabilities should always be considered in relation to the value of assets, noting that the value of assets can fall more than the value of liabilities if funds have had to sell assets to meet margin calls. .

“It’s the difference between the value of assets and liabilities that matters, and the value of assets will fall because of forced sales,” says Professor David Blake, Director of the Pensions Institute, Bayes Business School, City, University of London, which backs pension funds, should not borrow in times of economic uncertainty. “Having to sell assets in a falling market is pure speculation. It’s especially difficult if they all have to do it at the same time and the liquidity disappears.

Brundrett and Melley emphasize that LDI’s global portfolios have passed the test of managing funding level volatility over the past decade and remain a key component of pension fund risk management.

But significant risks await us. “Governance models will be challenged to see if the funds were able to react as quickly as hoped. Boards will need to know where to go if they need more assurances; if not corporate bonds, where do they go? If pension funds are forced to turn to illiquid assets, this opens up a series of new valuation and pricing challenges “Illiquid assets are not marked to market. In allocations like private equity, pricing is obsolete,” Brundrett concludes.

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Latest US Dollar Naira Black Market Rates Today, September 3, 2022 https://hardouin.info/latest-us-dollar-naira-black-market-rates-today-september-3-2022/ Sat, 03 Sep 2022 05:36:09 +0000 https://hardouin.info/latest-us-dollar-naira-black-market-rates-today-september-3-2022/

What is the exchange rate between the dollar and the naira in the black market, also known as the parallel market (Aboki fx). See the black market exchange rate between the dollar and the naira for September 3 below. You can exchange your dollar for Naira at these rates.

How much is a dollar to a naira today on the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate of a dollar to naira in Lagos Parallel market (black market) players buy a dollar for N693 and sell at N697 on Saturday, September 3, 2022, sources tell us. Currency Exchange (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex approach their respective banks.

Black market exchange rate of dollar to naira today

Dollar to Naira (USD to NGN) Black market exchange rate today
Purchase rate 693
Sell ​​rate 697

Please note that the the rates you buy or sell forex may be different from what is captured in this article as prices vary.

The Central Bank of Nigeria (CBN) revealed in its statistical report that there was a decline in crude oil revenues in the first quarter of 2022.

During the period considered, revenues from crude oil would have fallen by 29%.

Naija News reports that the apex financial institute said in its latest economic and statistical report that in the first quarter of the year, crude oil revenue fell to 790 billion naira from the 1.1 billion naira recorded in the quarter. previous.

Nigeria’s crude oil and gas revenues in the first quarter of 2022 were also 17.1% lower than the N956 billion revenues recorded during the same period in 2021.

The CBN said oil revenue for the first quarter of 2022 accounted for 38% of the country’s gross revenue, which stood at 2 trillion naira during the reporting period, while non-oil revenue, at 1.1 trillion naira, accounted for 62% of total revenue. .

In comparison, in the fourth quarter of 2021, oil revenue represented 46% of gross revenue, as in the first quarter of 2021.

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