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News
  • Global investors build up real estate - 21 May 2015

    Leading public institutions are investing heavily in real estate and infrastructure, according to an OMFIF report launched in Beijing.

  • Lord Desai launches 'Hubris' - 15 May 2015

    OMFIF Advisory Board Chairman Meghnad Desai told an audience at the launch of his book 'Hubris' to beware of conventional economic theories.

  • The OMFIF Bulletin: Europe's pivotal players - 13 May 2015

    Angela Merkel, the German chancellor, has emerged even more powerfully as Europe's pivot after the UK election.

Global investors build up real estate

Global official institutions have invested $2.7tn, or 9.1% of total assets, in real estate and infrastructure, according to OMFIF’s Global Public Investor 2015 – Real Assets for the Real Economy. David Marsh, OMFIF managing director, presented the findings, underlining the danger of asset bubbles in key sectors, at the UK Beijing embassy on 21 May

  • Click here to read the full press release.
  • Lord Desai launches 'Hubris'

    Lord (Meghnad) Desai said the 2008 financial crisis erupted because mainstream economists and financial market operators were not communicating. Speaking at the launch of 'Hubris' at Yale University Press in London, Desai said academics failed to see that markets would not always return to equilibrium, while traders were too busy making money through asset bubbles, which he warned were likely to recur.

    The OMFIF Bulletin: Europe's pivotal players

    Just as Greek upheaval in the euro area has become a real threat, a referendum on the UK leaving the EU has drawn closer with David Cameron’s election victory. In both cases Angela Merkel, the German chancellor, will play a decisive role. She will do a lot – but not everything – to keep both protagonists as members of a diverse European line-up.

  • Click here for more information about The Bulletin.
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    Commentary

    • Germany’s problematic current account surplus

      by David Marsh | Wed 20 May 2015

      Germany is on track for a still bigger current account surplus this year and - in contrast to china - is registering ever higher net foreign assets. This is partly a result of the fall of the euro, induced by continuous ECB easing. Continuous extension of Germany's creditor status exposes it to a higher danger of debt write-offs - a loser's game.

      MARKET: Europe

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    • Negotiating the shoals of ‘triple-speak’

      by Denis MacShane and Jacques Lafitte | Tue 19 May 2015

      Britain seems to be toning down its demands from Brussels for a new European relationship as a basis for an EU membership referendum. David Cameron has to speak to three audiences at once, and make sure his message achieves the desired effect each time – a near-impossible task.

      MARKET: Europe

      OMFIF - HomePage
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    • Cameron should ask Scots to join him on Europe

      by John Nugée | Mon 18 May 2015

      After the euphoria of his 7 May election win, David Cameron realises that Scotland and the European Union will dominate his second premiership. Cameron should ask the Scottish Nationalist Party, with 56 seats in parliament, to join the UK’s team in Brussels to help Britain negotiate EU reforms ahead of a membership referendum.

      MARKET: UK

      OMFIF - HomePage
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    • Athens upset could spark European QE risk

      by Marcello Minenna and Edoardo Reviglio | Fri 15 May 2015

      Greece’s dangerous drift towards default or a parallel currency could reignite ‘convertibility risk’– the threat of a potential redenomination of euro member government bonds into a different currency caused by a country’s exit from the single currency. The ECB's QE programme could be impaired by massive demand for German bonds.

      MARKET: Europe

      OMFIF - HomePage
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    CHART OF THE WEEK

    Greece's difficult road ahead

    by William Baunton

    If Greece were to fail to make payments to the IMF, it would become the first advanced economy in history to default on an IMF loan

    Greece's forthcoming debt repayments

    The UK's net international investment position

    by William Baunton

    The Bank of England's estimates paint a different picture

    The UK's net international investment position

    In defence of the Swiss National Bank

    by David Marsh and William Baunton

    The Swiss National Bank’s peg of SFr1.20 to the euro shuddered to an abrupt halt last month, causing financial market waves. In fact, the bank’s decision was correct, if not overdue.

    In defence of the Swiss National Bank

    Net foreign assets and liabilities 1970-2013

    by William Baunton

    Winners and losers in debtor-creditor stakes

    Net foreign assets and liabilities 1970-2013
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    Advisory Board Poll

    OMFIF Advisory Board expect Chinese currency to join SDR

    The composition of the Special Drawing Right, the IMF's reserve asset, is under review. Over half the Advisory Board expect the renminbi to be included. Many remained sceptical, with 42% expecting the renminbi to be passed over this year but included in 2020, and 4% expecting it not to meet the criteria for inclusion.

    Advisory Board expect renminbi to join SDR
    View All Polls