The International Capital Market Association, a trade group for securities-market participants, estimated in a report last month that the tax would cause the short-term repo market to contract by 66%.
As for the sentiment that it is not merely the international capital market but the basic principles of capitalist economics that need to be questioned, one can only despair that the thought has even surfaced.
The International Capital Market Association, a lobby group, has warned that the tax would cause the short-term repo market in Europe to contract by at least two-thirds, with serious consequences for other financial markets and the real economy.
While domestic strengthening of institutional frameworks for the financial and corporate sectors is no doubt required, there is also a need for an architecture -- some sort of international "public good" -- to maximize the advantages of international capital market integration while mitigating its risks.
The proposals from Britain's Vickers Commission go a long way to deal with this, dividing a tightly regulated domestic banking system (the bit that puts taxpayers at risk) from a more freewheeling international market for global capital.
U.S. economic data due for release Monday is light and includes Treasury international capital data and the NAHB housing market index.
FORBES: Comex Gold Hits New Record High above $1,600.00; Silver Pushes Above $40.00
On Monday, worries about Asia's chilling effect on the international art market spurred Craig-Hallum Capital Group analyst George Sutton to lower Sotheby's rating to Hold from Buy.
U.S. economic data due for release Tuesday includes the weekly Goldman Sachs chain store sales index, the producer price index, the weekly Johnson Redbook retail sales report, Treasury international capital flows data, and the NAHB housing market index.
FORBES: Comex Gold Sharply Lower As It's A "Risk Off" Day In The Market Place
An index of emerging-market shares compared by Morgan Stanley Capital International has fallen by about 16% from its peak in mid-April.
The U.S. data includes the weekly MBA mortgage applications survey, the consumer price index, the Empire State manufacturing survey, real earnings, Treasury international capital data, industrial production and capacity utilization, the NAHB housing market index and the weekly DOE energy stocks report.
FORBES: Comex Gold, Silver Lower as "Outside Markets" Bearish
U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the consumer price index, real earnings, Treasury international capital flows, industrial production and capacity utilization, the NAHB housing market index and the weekly DOE energy stocks report.
FORBES: Comex Gold Down On Stronger U.S. Dollar Index, Weaker Commodity Sector
U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the Empire State manufacturing survey, Treasury international capital flows, industrial production and capacity utilization, the NAHB housing market index, the weekly DOE energy stocks report, and the FOMC meeting minutes.
FORBES: Comex Gold Firmer On Bargain Hunting, Bullish Outside Markets
However, the effort to attract more service-oriented businesses faces stiff competition from the nearby office market of Hong Kong, a long-established international financial capital.
U.S. economic data due for release Tuesday includes the weekly Goldman Sachs and Johnson Redbook retail sales data, the consumer price index, Treasury international capital data, industrial production and capacity utilization, and the NAHB housing market index.
FORBES: A.M. Kitco Metals Roundup: Gold Firmer on Bargain Hunting, Weaker U.S. Dollar
U.S. economic data due for release Tuesday includes the weekly Goldman Sachs and Johnson Redbook retail sales reports, real earnings, the consumer price index, the Empire State manufacturing survey, retail sales, Treasury international capital data, manufacturing trade, inventory and sales, and the NAHB housing market index.
FORBES: Comex Gold Trades Near Steady as Market Tries to Stabilize
"The government wants to see these companies subjected to harsh market scrutiny, " says Lin Shoukang, head of capital markets for China International Capital Corp.
Some are already timidly criticizing the International Monetary Fund, the speculators, the capital flows across borders, the right of the self-appointed market forces to discipline elected governments.
In 2000 Morgan Stanley Capital International, which tracks global stock markets via hundreds of indexes, promoted Greece out of the emerging-market category.
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