ROUND-UP
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 Times) Read more
Yep, this is a Greece post in a series on Argentina and the pari passu saga.
We’ll explain. Read more
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
Amid all the entrails of China’s November data is a particularly interesting spike… Read more
Live markets commentary from FT.com
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
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
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
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:
Read more
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
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
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
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 call. Read more
1Man walks into a gold bar. Au!
2The end of QE?
3The persistent supply-side constraints in US housing
4Bird, plane, Abe
5Bove vs Bloomberg, redux
Show more6A glorious episode in the history of the Revenue
7Stress you next year
8An unusual bear market
9The short arm of the SEC
10Breaking up is hard to do - Rio Tinto edition
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