Posts from Monday Dec 10 2012

The Closer


FT markets round-up:“Stock markets are mildly firm but showing a lack of conviction as a mixed bag of recent macroeconomic data and political jostling in the US and Europe curtail investors’ risk appetite. Currencies and bonds are displaying a lack of clarity towards supposed havens, with the dollar index down 0.1 per cent with demand for Treasuries nudging 10-year note yields a touch lower to 1.62 per cent. The FTSE All-World equity index is gaining 0.2 per cent as the FTSE Eurofirst 300 recoups early losses to trade up 0.1 per cent and after the Asia-Pacific region, in aggregate, rose 0.1 per cent. In New York, the S&P 500 is up 0.1 per cent from Friday’s close of 1,418, helped by well-received November sales news from McDonald’s. The S&P has been confined to a very narrow range on Monday.” (Financial TimesRead more

If you’re going to CAC, now might be a good time — Greece edition

Yep, this is a Greece post in a series on Argentina and the pari passu saga.

We’ll explain. Read more

‘Whoops’ said the regulator trying to enact Basel 2.5 locally

Rule-making is a natural response to a financial crisis. There is, of course, also a tendency for the new rules to be more complex than their predecessors. But this evolution has given some regulators pause for thought.

Consider the below a case study, as fuel for debate. It’s an example of when a local regulator managed to fudge the implementation of the edicts from the gnomes of Basel… Read more

China’s November property resurgence

Amid all the entrails of China’s November data is a particularly interesting spike…  Read more

Markets Live: Monday, 10th December, 2012

Live markets commentary from 

The robot economy and the new rentier class

It seems more top-tier economists are coming around to the idea that robots and technology could be having a greater influence on the economy (and this crisis in particular) than previously appreciated. Paul Krugman being the latest.

But first a quick backgrounder on the debate so far (as tracked by us). Read more

The (early) Lunch Wrap

Monti walks, Italian bond yields wave him off || Recession in Japan || Greece PSI deadline extension || US fiscal cliff negotiations || Banks increase holdings of structured products || US UK regulators to announce cross-border plans to deal with failing global banks || EU investigation into Euribor || Proposal for regulating the net || Pay at Fannie & Freddie more private than public sector Read more

Arrivederci, Monti

Mario Monti, the saviour of Club Med, is walking and Italian bond yields are waving him off. Here are the 10-year and 30-year BTPs, with dramatic spikes:

 Read more

Japan, bringing you recession since Q2

The third quarter was bad, but it was a revision of Q2 GDP data — from 0.1 to -0.1 per cent, seasonally adjusted and annualised — that puts Japan in official recession:

Japan quarterly qoq annualised seasonally-adjusted GDP - Soc Gen  Read more

An (extended) offer from Greece…

Click for details. The Greek PSI bond buyback now closes at 12pm London time on December 11.

Now, is this supposed to be a veiled threat if investors choose not to tend their bonds? From the Greek debt office chief, Stelios Papadopoulos: Read more

Further reading

Elsewhere on Monday,

Nothing to see here, or here, or…

– The non-measurement of leverage.

Move over Greece, it’s Italy’s turn! Read more

The 6am Cut London

China trade growth falls, domestic data improve || Japan in technical recession || US-UK failed bank plans previewed || Obama and Boehner resume cliff talks || Libor settlement deals afoot || Monti says will resign || AIG selling majority of ILFC || Ingersoll-Rand planning asset sales || Krugman on robots Read more

Shock jocks and other media stories from Down Under

The price action in Southern Cross Media, the parent company of Sydney’s 2Day FM on Monday morning:

For non-Australia readers, it’s the station which did the royal prank callRead more