Bloomberg Global markets have become so synchronised that money managers risk losing on every front, according to Hiromichi Mizuno, chief investment officer of the world’s largest pension fund. Japan’s $1.5 trillion Government Pension Investment Fund lost money in equities, fixed-income and currency positions in the last three months of 2018, Mizuno pointed out in Sacramento, California. “Conventional wisdom of portfolio ...

Bloomberg China is cracking down on banks and brokers that it suspects of inflating bond trading volumes in an effort to win more business, according to traders familiar with the matter. A subsidiary of the central bank is monitoring large transactions on the X-Bond system for signs of abnormal trading, the two traders said, asking not to be named as ...

Bloomberg Singapore has been moving forward on its aim to be the lead broker of infrastructure projects in Southeast Asia, and is intent on getting the private sector more involved. Globally, government funding accounts for about 40% of infrastructure spending, but in Asia it’s 90% — an “unsustainable” proportion, Indranee Rajah, minister in Prime Minister Lee Hsien Loong’s office, said ...