Societe Generale
Societe Generale (SG) is now supporting Eurex FX futures, from clearing to trading. SG’s clients will now be able to trade FX on Eurex, while any of the exchange’s clients will be able to execute bilaterally off-exchange against the bank or to move between OTC FX and listed FX using exchange for physical (EFP). Chris […]
Former Deutsche Bank trader and managing director Andreas Hauschild has been acquitted of conspiracy to defraud at London’s Southwark Crown Court over the rigging of the Euro Interbank Offered Rate (Euribor) after being found not guilty of manipulating the benchmark rate during global financial crisis. The case was brought by the UK”s Serious Fraud Office […]
Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) SNB Upholds Ultra-Loose Policy The Swiss franc was up 0.2% to 1.12127 per euro on Thursday following Swiss National Bank (SNB) president, Thomas Jordan’s, announcement to maintain loose monetary policy. In an interview with Bloomberg, Jordan […]
A research note today from Societe Generale found that, despite claims from senior US officials, the USD has generally weakened against other major currencies over the last two decades. This announcement comes after a press conference on Saturday, where US Treasury Secretary Steve Mnuchin argued that by not intervening to support the yuan, the Chinese […]
CTAs struggled in May as markets pulled back from established trends, according to the latest data by Societe Generale (SG) CTA indices. The SG CTA Index was down 2.36% last month, however, it still remains in positive territory for the year at 2.22%. Trend following strategies have performed well in 2019, but in May the […]
Following on from an improvement in February and a strong March, April has been another positive month for CTAs, according to the latest data by Societe Generale (SG) CTA indices. The SG CTA Index was up 2.76% in April, bringing it firmly into positive territory for 2019 year–to–date, to up 4.74%. The strong performance has […]
Weeks after revealing plans to cut 1,600 jobs, largely in its corporate and investment bank, and days after revealing a 26% drop in first quarter revenues, Societe Generale has named a new head of fixed income and currencies. Sylvain Cartier has been named as head of FIC, he will be based in Paris and will […]
Societe Generale has revealed that on April 18 its subsidiary, Societe Generale SFH, issued €100 million of covered bonds as a security token (OFH), directly registered on the Ethereum blockchain. The OFH tokens have been rated Aaa / AAA by Moody’s and Fitch and have been fully subscribed by Societe Generale. This operation is the […]
2018 saw CTAs cap a generally poor decade of performance with a particularly bad year of losses. Given this, Galen Stops takes a look at whether the rationale for investors including CTA strategies in their portfolio is still valid. Post financial crisis, CTAs have struggled to produce returns, with only 2010 and 2014 standing out […]
The SG CTA Index was up by 0.42%, whilst the SG Trend Index was up by 0.81%. Short term strategies struggled and underperformed other strategies, with the SG STTI down by 1.19% for the month. The SG Trend Indicator attributed February’s positive results to gains in currencies and a selection of commodity markets, as well as trends in interest rate markets. Long positions in bond markets reverted slightly, leading to small losses, whilst positions in equity markets began to adapt to the renewed upward trend. “We’ve seen an uptick of performance in February, and we maintain the benefits CTA strategies can have in diversified portfolios. It will be interesting to observe if CTAs can continue this upward trend as we look towards March and the rest of the year,” says Tom Wrobel, director of alternative investments consulting at Societe Generale Prime Services.
