A record number of billionaires and wealth around the world

There are more billionaires in the world right now than ever, according to a new study of the Wealth-X Billionaire Census.
The number of the richest people in the world has risen by a remarkable 15% compared to last year and by the end of 2017, it now amounts to 2 754. The peak of 2 473 from the 2015th year was overcome.
The synchronization of world economic growth and stock market stock prices was the main reason for the accelerated growth in the number of billionaires, says the report.
Asia's billionaires have grown the most, rising 29% in the past year, compared with 11% for North and South America and 9% for EMEA.
As a result, the number of billionaires in Asia exceeded that in North America for the first time in history. There are 784 billionaires in Asia, compared to 727 in North America.
The global fortune of world billionaires rose 24 percent, to a total of $8.2 trillion. Again, Asia's billionaire wealth has risen steadily, from 50% in the past year, compared with 22% in the Americas and 12% in the EMEA.
The growth of Asian billionaires comes mainly from China, Hong Kong and India.
In terms of cities, most billionaires live in New York, followed by Hong Kong, San Francisco, Moscow, London, Beijing, Singapore, Dubai, Mumbai and Shenzhen.
The universities that produce the most billionaire include Harvard, Stanford, University of Pennsylvania, Columbia, MIT, Cornell, Yale and others.
In terms of industries, finance, banking and investment intermediation, the biggest share in the creation of billionaires, followed by industrial conglomerates, real estate and industry and technologies.

Fed did it! (Part 2)

Economic forecasts

The Fed also released their economic forecasts for the next three years.
The controller assumes that the federal funds rate could rise to 1.375% in the next year; to 2.1% in 2018; and to 2.9% in 2019.
Current average rate is at around 0.625% after raising rates by 25 basis points range to 0.5-0.75%. Thus, the Fed raised their expectations for interest rates and the number of their increase in 2017. The Fed now plans next year to increase the rate three times, by 25 basis points for each increase, while in September, the regulator wanted to raise the rate in 2017 only twice.
The US currency has responded to this sharp rise. By 21.20 GMT the dollar rose by 0.8% against the euro to 1.0530. The dollar index rose by 0.9% to 102.05.
Fed expects the growth of GDP to be 2.1% next year and will remain at approximately the same level until 2019.
The unemployment rate will fall to 4.5% in the period from 2017 to 2019., according to Fed's forecast. Inflation will rise to 1.9% next year and will remain at this level over the next two years.

Mario Draghi hinted at upcoming additional stimulus measures

Eurozone economic recovery remains heavily dependent on stimulus measures taken by the European Central Bank, said on Friday the ECB President Mario Draghi, hinting that the bank is likely to extend the program of "quantitative easing" for a total of 1.7 bln euro at its next meeting, which will take place on 8 December.
"We still can not cancel our vigilance", - said Draghi on a banking conference in Frankfurt, adding that the ECB will continue to act as justified by using all the tools that are available, while inflation did not grow sustainably.
He warned that central bankers do not yet see consistent strengthening of basic dynamics of prices and said that the ECB is committed to comply substantially the policy of monetary stimulus.
Central bankers from the ECB are preparing for quite a crucial meeting on December 8, which is expected to decide whether to extend the program of "quantitative easing." At this stage, the program should be completed at the end of March 2017.
By purchasing bonds, the ECB hopes to reduce real interest rates in the euro area, thereby encouraging lending, economic growth and inflation, analysts say. Despite these efforts, inflation in the region last month rose by 0.5% and remained still too far below the target of the ECB from just under 2%.

Peru has become a rising star in the emerging markets

Brazil and Argentina came in the highlights among other emerging markets in recent months due to the political changes conducive to investors, but the neighbors gradually are overshadowed by inconspicuous Peru.
Peruvian index S&P Lima General is ahead of all global emerging markets in terms of the local currency in 2016, jumping up by 58 percent and leaving far behind Argentina's Merval, with its 33-percent growth and Brazil's Bovespa, which rose by 37 percent over the same period.
Taking into account currency adjustments, Peru - the second largest market after Brazil, which could greatly benefit from the large growth of the national currency, according to MSCI rating.
Stable economic growth in the last few years Peru is obliged to its new president Pedro Pablo Kuczynski, a former World Bank official and banker from Wall Street.
Even before the victory in close competition for the presidential elections in June, Kuczynski revived the hopes of investors, providing infrastructure investment plan, help for small businesses and employment programs. Lima General Index soared 8 percent, when Kuczynski finished second in the primaries in April, and the candidate of the left wing Veronica Mendoza dropped out of the race.
Kuczynski, who only for a few weeks occupies the presidency, on Thursday again called for tax cuts, saying that his plan will boost revenue to the treasury due to the expansion of the tax base.
"Peru is in the best shape for the last 50-60 years", - said Javier Kreyksell, portfolio manager in Epiphany Funds.
He believes, that Kuczynski will hold a number of important changes in the country, among them - increasing foreign investments and support for the most important Peruvian mining and banking sectors. Kreyksell expects, that the newly elected president will increase the pension funds, which should support savings, strengthen the financial system and ensure pensioners wealth.

IMF warns on debt bomb in China

The world goes blind to a new crisis as investors began to lose confidence in the ability of politicians to revive economic growth, writes British newspaper "The Telegraph", citing a report by the International Monetary Fund outlook for the global economy.
Warning of loss of policy inaction, the IMF stated that the financial and economic stagnation could worsen if governments do not prevent the formation of malignant feedback because of the fragile trust between weak growth, low inflation and rising indebtedness.
Jose Vinyals, head of financial stability at IMF warned that continued delays could erase 3.9 percent of global gross domestic product compared with current expectations for the next five years amid persistent turmoil in the markets.
According Vinyals bomb hidden in a $ 1.3 trillion risky corporate debt that is ticking in China, also carries potentially serious challenges to financial stability if banks are pushed to the edge.
The loss of investor confidence bodes bad outlook for global markets. If no action is taken, the shares in the UK, the US, Eurozone and China will lose a fifth of its value in the next two years.