Brazil

The outlier in Brazil isn’t politics

The outlier in Brazil isn’t politics

While growth forecasts for Brazil for 2018 are turning optimistic, a few – a surprisingly small number in fact – are warning about a growing downside risk for next year: a negative hit from a persistent drought.

China

China: Backtracking on reforms not an option

China: Backtracking on reforms not an option

The opening up of the Chinese financial sector to majority foreign ownership is an important and strategic move, but the guidelines curtailing banking sector liberalization make it look like one step forward, two steps back.

Chinese banks yearn to trade offshore renminbi

Chinese banks yearn to trade offshore renminbi

Analysts’ confidence that there is untapped demand from Chinese banks to trade offshore RMB is good news for R5, which last week announced a joint venture with Shanghai Clearing House designed to connect these institutions to the London FX market.