The new Z/Yen global financial centers rankings supports what you've heard in the news: Europe is fading and Asia is rising. America is treading water.

Last year's ranking put London and New York in a tie for the top spot. This year's ranking London dropped 3 index points and New York dropped 5 index points, for first and second place.

Third place Hong Kong closed the gap with a 21 index point gain. Shanghai rose to sixth place with an unmatched 25 point gain.

Big losers include mainland Europe, notably Zurich, Geneva, Luxembourg. Tax havens also dropped, including Guernsey, Jersey, the Cayman Islands and Dubai.

Can you name the top eight?