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Bond: WCAP: world stock market capitalization SRCH: an encyclopedia of bonds BUDG: U.S. federal budget YAS: yields and spreads on government bond DEBT: ownership statistics of sovereign debt for select countries including the U.S. CAST: capital structure RATD: credit rating scales CRPR: current and historical credit rankings IFMO: inflation monitor DDIS: debt repayment schedules CSDR: real-time credit ratings for sovereign borrowers GEW: key economic statistics GY: historical yield chart GC: real-time and historical yield curves GC3D: 3D graph to show how yield curve moves across time ECFC: economic forecast BYFC: bond yield forecast WB: world bond SOVR: global sovereign credit default swap spreads LIBE: breakeven inflation rates derived from inflation-protected securities WCDM: debt monitor FOMC: policy decisions, news, and analysis of the federal open market committee WIRP: probability ascribed by the market to future interest rate decisions Currency: ...

TARIFFS The latest tariffs, a 10% levy on $200 billion of Chinese imports, including bicycles and bicycle parts, took effect in September and are slated to rise to 25% at year-end. In all, the U.S. has levied tariffs on $250 billion of Chinese imports, from steel and aluminum to bamboo furniture and luggage. China has responded with tariffs on $110 billion of U.S. exports. Influence: The Trump administration says tariffs on Chinese imports will shift manufacturing back to U.S. factories, but some small and midsize companies that have done just that say the tariffs are hurting, not helping, their business. Finished goods from China could lose their advantage over U.S.-made goods with Chinese components. Companies hit by the tariffs aren’t simply raising prices to offset the added costs. Some business owners say they are delaying plans to expand their U.S. footprint. More firms are concerned about a stronger dollar, raw materials costs, higher wages, and ta...

FX derivatives 1. control in regulations 1.1 principle of actual need materials that provide the background of its real need if there is a change in FX risk exposure, FX investors shall accordingly adjust the FX derivatives' exposure held by them within 5 days 1.2 special FX account/exclusive  should not be used for any purpose other than investment fluctuations do not exceed 10% fund remitted outward shall not exceed 110% of remitted inward FX proceeds shall be included in FX profits for unified management, and may not be settled separately 1.3 master agreement 1.4 data submission in a complete, accurate and timely manner 2. trading process flow 2.1 spot (general) Before trade: - KYC - bank account opening - provide supporting documents business license trade authority letter copy of identity card, passport, etc company approval org chart ... annual financial report for the past 3 years for JPM review and FX line set ...

Q: tell me about options. A: options are financial derivatives that give the option buyer the right to buy or sell at a specific price within a specified period. Call option gives the right to buy, put option gives the right to sell. The specific price is "exercise price" or "strike price". options have 3 money conditions, for call options: (1) at the money: current stock price=strike price (2) in the money: current stock price>strike price (3) out of the money: current stock price<strike price Q: what people do if they believe the underlying stock price will go up? A: buy a call option or write a put option. Q: what's the difference between American option and standard European option? A: American option can be executed before the expiration date; European option can't. Q: tell me about factors affecting option value. A: option's intrinsic value is the max(0, strike price-current stock price) - price of underlying assets: for c...

Q: tell me about bond. A: bond is a debt security that provides fixed/predictable cash inflows for its investors in a given period. Key elements of a bond include: par value/face value; coupon rate; yield; maturity; price/value; credit rating. Q: what's the difference between yield and rate of return? A: the yield on a bond is the internal rate of return or "yield to maturity" or "promised yield". The rate of return on a bond is the realized cash flow to the bondholder, or "holding period return". If the holder sells the bond before maturity, yield and rate of return may not be same.   Q: how to value a bond? A: the value of a bond is the sum of the PV of its cash inflows. To be specific:  V=C1/(1+r)+C2/[(1+r)^2]+...+(Cn+P)/[(1+r)^n] Therefore we can see, other things equal: - the higher coupon rate, the higher bond value. - the higher bond yield, the lower bond value. - the longer maturity, the higher bond value. Q: ...