More Hedging Less Hiring
Corporate Hedging Survey: More Hedging Less Hiring
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• There remains a broad
consensus among G3 corporates that JPY should depreciate
notably in 2010 and 2011: nearly 80% of respondents look for
USD/JPY to move higher in coming years.
• EUR/USD
forecasts are mixed but the majority of respondents expect
the EUR to depreciate modestly for the remainder of 2010.
• Firms increase 2010 hedge ratios relative to
previous March surveys. US corporates appear to shift
current year hedging activity later in the year, all while
increasing year-ahead coverage.
• Firms are postponing
hiring globally, US firms are more optimistic while Japanese
firms are least likely to increase hiring soon.
ENDS