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  • The European market for collateralized debt obligations is set to grow significantly this year. This promises to be an area of intense interest for US and UK structured finance lawyers.
  • Still convinced that their ailing currencies are sick because of the attentions of speculators, Asean finance ministers have agreed a fund for mutual defence through forex market intervention. Most bankers reckon the $1 billion put in the pot is a derisory amount to cope with what is anyway a misdiagnosed condition. Beyond that there’s disagreement on whether Asean currencies have bottomed out or have further to fall.
  • Mexico's bourse looks more like a battleground these days than a financial market.
  • South Africa is a contradictory country. Its economy is the size of Poland's or Thailand's. It has income disparities similar to Brazil's. In population and wage rates, it's Argentina. But it spends three times more of GDP on public education than China and twice as much as the average of all emerging markets.
  • If Silvio Berlusconi and Italy's new centre-right coalition take power they will depend heavily on Milanese tax lawyer and academic Giulio Tremonti to win and maintain the trust of the financial markets.
  • When Argentina cancelled a domestic bond auction last month - its government refused to pay the interest rates the market demanded - fears about the country's ability to meet its debts were revived. The government, mired in recession for almost three years, has debt of at least $125 billion. Argentina would need to cut imports in half or boost exports by half to service that overhang.
  • Richard Li, chairman of Hong Kong-based Pacific Century Cyber Works (PCCW), is rewriting his CV. But he's not just updating his work experience and leisure activities. He has to make a major alteration to his qualifications.
  • It's been another bad month for the European Central Bank, with everyone telling it what to do. Horst Köhler of the IMF said the ECB would have to cut rates to prevent the US recession from spreading. US finance minister Paul O'Neill agreed, and at a meeting in Malmö in Sweden, so did European finance ministers.
  • Of the leading multi-dealer sites that will serve the online foreign exchange market, only Currenex and State Street’s Global Link FX Connect services are trading yet. Both Atriax and FXall are yet to complete testing, though both expect to be on stream in the very near future.
  • Mr Slobodan Milosevic