Weekly Newsletter – November 16, 2015

November 17, 2015

Newsletter

SAIS International Finance Club Weekly Newsletter – November 16, 2015

 

Club members, please see information on this week’s exciting events below as well as important internship/full-time position deadlines.

–Your SAIS International Finance Club Leadership

 

RECENT FINANCE NEWS

WSJ: Economists Expect Fed to Raise Interest Rates in December 

  • Private forecasters and 92% of businesses and academic economists agree  that the Fed will raise short term interest rates by end of December
  • Fed funds futures imply a 68% probability of December liftoff

WSJ: Oil Prices Fall Toward $40

  • Fresh signs of increasing supply and slackening demand in China battered oil prices even further
    • Commodity supplies remain abundant longer than many investors have expected
    • Strengthening dollar incentivizes producers outside the US to increase commodity sales, leading to an oversupply in the market
  • The S&P GSCI index, which tracks 24 different commodities prices, dropped 4% this past week, closing at its lowest level since August
  • Crude oil inventories in developed nations rose to three billion barrels by end of September
  • Producers in the US have added two oil-drilling rigs this past week
  • WSJ argues that another drop in oil prices may lead OPEC members to rethink their policy of maintaining high output levels amidst low oil prices

Bloomberg: What the Rise of the Yuan means for the Global Economy

  • Stephen Jen, former IMF economist, argues that having a financial system centered around one country/currency is an unsustainable model
    • Suggests that China may offer the global system a currency that can complement the dollar
    • Currently, restrictions on the ability to move money in and out of China is stymying the Yuan’s role in the global market
  • If China wins a reserve-currency status from the IMF (will be voted on in 2016), central banks and sovereign wealth funds are expected to inject $350BN into the Chinese bond market over a 5 year period (JP Morgan)
  • “The renminbi’s rising status as an international currency will help to transform the current international monetary system into a more multi-polarized system,” Shen Jianguang, chief Asia economist at Mizuho Securities Asia Ltd. in Hong Kong, wrote in a note last week.

 

UPCOMING ON-CAMPUS EVENTS

Nov. 17: Transatlantic Research Seminar Series: “Dis-Embedded Markets and Embedded Politics: Dealing with External Policy Constraints” with Professor Matthias Matthijs

This advanced research seminar on ‘democracy and its discontents’ in industrial states is being offered as a joint course between the SAIS Washington and SAIS Europe campuses, enabled by video conferencing technology. The lectures are open to participation by the SAIS community and the public (seats are limited). 11:30 am – 2:00 pm, Rome 806. RSVP here.

Nov. 17: Who Governs the IMF? By Dan Honig

This is part of the Research Seminar Series, 2015-2016, being sponsored by International Political Economy at SAIS. Dan Honig, the speaker for this seminar, is an Assistant Professor of International Development (IDEV) at SAIS. 4:30 – 6:00 pm, BOB 736. RSVP here.

Nov. 18: Career in International Trade and Business, an alumni panel.

Hosted by International Trade Club. 12:45pm – 2:00 pm, Nitze Building 417. RSVP here.

Nov. 18: Fireside Chat with Your Professor, featuring Roger Leeds, International Finance. 7 pm – 9 pm, Madhatter. RSVP here *by Monday.

 

UPCOMING OFF CAMPUS EVENTS

Save the Date: Dec. 4th, 2015Site visit to the Overseas Private Investment Corporation (OPIC). Come learn more about OPIC, the U.S. Government’s Development Finance Institution. OPIC is planning a site visit on December 4th for those interested in the agency and its many internships. Stay tuned for more information!

Nov. 17, 1:30pm: “Are We Safer? A Look At The Financial System, Post-Crisis” Brookings and Ben Bernanke, now a distinguished fellow in residence, host a discussion focusing on lessons from history, the role of collateral in the financial system, liquidity in bond markets, and the shadow banking system. For more information, click here.

Nov. 17, 2pm: “US House Subcommittee Hearing: Terrorist Financing: Kidnapping, Antiquities Trafficking, And Private Donations” Witnesses include John Cassara (Former Special Agent, U.S. Department of the Treasury) and David Andrew Weinberg (Senior Fellow, Foundation for Defense of Democracies). For more information, click here.

Nov. 17, 2:30pm: “Hedge Funds & Private Equity: Transferring Wealth Up” Following a keynote address from Senator Tammy Baldwin (D-WI), the first panel will consider private equity leveraged buyout strategies and their effects on American companies and workers. The second panel will address hedge funds and the related issues of activism, debt vulturism, high frequency trading and more. The event will close with a second keynote address from Congresswoman Nydia Velazquez (D-NY). For more information, click here.

Nov. 17, 2:30pm: “Anti-Money Laundering In The EU & US: New Approaches & Challenges” Laws to combat money laundering and financing terrorism are evolving to meet new challenges. Learn from a French Notaire about the new EU Anti-Money Laundering Directive requirements for due diligence, reporting and identifying beneficial owners and the notaires’ obligations to effectuate them. A former US Treasury and Justice Department official familiar with current compliance obligations will provide a comparative US perspective. For more information, click here.

Nov. 18, 4:30pm: “Hands-On Bloomberg Info Session” The Sheridan Libraries @ DC is hosting another Bloomberg Info Session for students to learn how to use the Bloomberg terminal and Professional Service. The Bloomberg Professional Service is available from designated terminals throughout the university. This system, created by Michael Bloomberg, provides over 20,000 functions, including current business news; equity prices; indices; fixed income; currency research; financial, real estate, commodity and economic data; and information on domestic and international markets. The session will feature hands-on instruction at the Bloomberg Washington Office (near McPherson Square).  In this session, students will be able to follow along with the instructor on their own Bloomberg terminal. For more information and to register, click here.

 

JOBS, INTERNSHIPS, AND CAREER RESOURCES 

Internships – If no contact listed, details available on SAISWorks

Internship opportunity with EY’s Quantitative Economics & Statistics (EY QUEST) – Please submit your resume to Charlotte Peak, at charlotte.peak@ey.com no later than November 30th  2015.

EY QUEST is in need of a current graduate student to assist staff on a high profile policy project for Industry Canada, a department of the Canadian Government. The issues involved in this project have broad applicability to international trade policy and economic development. Canada is made up of 13 distinct provinces and territories with distinct governing bodies and regulations. Differences in these regulations often create barriers to interprovincial trade. QUEST is developing an Internal Trade Barrier Index for Canada based on the methodology used for the OECD’s Services Trade Restrictiveness Index. The project intern will work closely with staff to identify and track trade barriers throughout Canada. Responsibilities include: extensive policy research, data collection and analysis, contributions to trade barrier inventory, and helping to prepare reports.

Delphos International – Financial Intern (with a potential transition to a full-time position) – unspecified, Contact: Niki Doshi, Vice President, ndoshi@delphosinternational.com

Sidar Global Advisors – Research and Risk Advisory Internship – Deadline 11/30

Goldman Sachs [Resume Collection] – EMEA Summer Internship Positions – Deadline 11/22

JP Morgan – Risk Management Summer Internships – Deadline 12/01

HSBC [Resume Collection]  – EMEA Summer Internship Positions – Deadline 12/17

Aberdeen Asset Management [Resume Collection] – US Summer Internship Positions – Deadline 12/17

Overseas Private Investment Corporation (OPIC) – Non-paid Student Volunteer Intern, Capital Markets – Deadline 12/15

Fitch Ratings – Summer Analyst – Deadline 01/01/16

Capital – Summer Investment Associate – Deadline 01/10/16

[Note]

Summer internship online applications for Credit Suisse, Morgan Stanley, JP Morgan, Goldman Sachs have already started. Deadlines vary across positions and regions. For example: Asian IBD position in Hong Kong and Singapore for JP Morgan is Nov. 08, but equity research for JP Morgan Hong Kong is Nov. 29.

**** Please check these companies’ career sites!****

Full-time – If no contact listed, details available on SAISWorks

Pricewaterhouse Coopers (PwC) [Resume Collection] – Associate/Senior Associate level in the Global Tax Policy and Governance Team, London – Deadline 11/19

Fitch Ratings – Associate Analyst – Deadline 01/01/16

Kekst and Company (New York) – Associate – Deadline 12/02

Fitch Ratings – Director, Latin America Sovereigns – Deadline 01/21/16

Morgan Stanley – Financial Advisor Associate – Deadline unspecified. Find the link here.

Raymond James – Investment Banking Associate – Deadline unspecified. Find the link here.

SenecaOne Finance – Financial Analyst – Deadline unspecified. Find the link here.

Edelman – Financial Analyst – Deadline unspecified. Find the link here.

Spectrum – Financial Analyst – Deadline unspecified. Find the link here.

 

NEWSLETTER CONTRIBUTORS

Editor: Cristina Valdez Pineda

On-Campus Events: Nikki Tan

Off-Campus Events: Anna Lund

Jobs & Internships: Siqi Zhou

Recent News: Putt Rodchareon

 

ABOUT US

Stay up-to-date with club events on the SAIS International Finance Club website and Facebook group.

Add Finance Club events to your Google calendar by entering saisinternationalfinance@gmail.com in the “Add a friend’s calendar” text box under “Other calendars”. Alternatively, you can view the calendar using the following addresses:

XML: https://www.google.com/calendar/feeds/saisinternationalfinance%40gmail.com/public/basic

ICAL: https://www.google.com/calendar/ical/saisinternationalfinance%40gmail.com/public/basic.ics

HTML: https://www.google.com/calendar/embed?src=saisinternationalfinance%40gmail.com&ctz=America/New_York

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