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Foreign Exchange

FX people moves: The bear leaves RBS lair

RBS announced on Monday that its chief markets strategist, Bob ‘The bear’ Janjuah, has left the bank. Janjuah is one of the more colourful commentators around and fully earned the title of ‘the world’s most bearish man’ conferred on him by FT Alphaville.

Janjuah’s most recent publicly available prediction came a month ago when he hit the airwaves predicting a “major sell-off coming sooner rather than later” in the S&P500 (from the then and current level of around 1040) to 850. He remained “very bearish risk (equities, credit, EM etc.) and bullish US Treasuries and the USD.”

RBS also announced that Kevin Gaynor its chief markets economist had also quit the bank. It is not known where the duo is headed.

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