John Bowman, CFA, is managing director, Americas, at CFA Institute. Previously, he served as managing director and co-lead of education at CFA Institute. Prior to joining CFA Institute, Bowman was a fund manager and equity analyst for Mellon Growth Advisors and State Street Global Advisors. He holds a BS in business administration from the University of Mary Washington.
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The European Central Bank's widely anticipated move toward tapering its bond-buying scheme looks likely to have a considerable effect on emerging economies, which hold record levels of euro debt, and could hamper those economies' recent rally. However, the effect is unlikely to equal the "taper tantrum" that wiped half a trillion dollars off the MSCI Emerging Markets Index when the Federal Reserve proposed a similar move in 2013. Reuters (21 Aug.)
China's Great Wall Motor said it wants to buy the US Jeep brand. However, Fiat Chrysler, which owns Jeep, said it hasn't been approached with a proposal. The New York Times (free-article access for SmartBrief readers) (21 Aug.)
Some expect Federal Reserve Chair Janet Yellen to use her speech at the Jackson Hole, Wyo., economic symposium to announce further interest-rate increases, contrary to market expectations, and an October start to shrink the central bank's balance sheet. The Telegraph (London) (tiered subscription model) (21 Aug.)
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