FT markets round-up:“US stocks fell, while the US dollar shot higher after minutes of the last Federal Reserve meeting showed policy makers are growing wary of asset purchases and may end their $85bn monthly bond buying programme in 2013. Investors bought the US currency, pushing the dollar index up 0.7 per cent, as the euro touched a three-week low against the greenback, below the $1.31 level. In contrast, gold prices sold off, with the precious metal falling 1.4 per cent after the release of the minutes, to hit a session low at $1,662.34 an ounce. The US 30-year bond sank a full point, while its yield rose to 3.10 per cent. The 10-year note yield jumped 7 basis points to 1.90 per cent. The FTSE All World index spent much of the trading day in negative territory, also dragged lower by declines in most European equity markets. The global benchmark index closed 0.3 per cent lower as the S&P 500 ended the session down 0.2 per cent on the day.” (Financial Times)
Officials at the US Federal Reserve are split on whether to keep buying assets until the end of 2013, according to the minutes of their December meeting. The minutes show the new front line for debate on the rate-setting Federal Open Market Committee and give the first indication of how big the Fed’s third round of quantitative easing – so-called QE3 – may be in total. (Financial Times)
Transocean has agreed a $1.4bn settlement with the US Department of Justice to resolve civil and criminal claims against it. The offshore drilling contractor owned and operated the Deepwater Horizon rig that sank in the Gulf of Mexico in 2010. (Financial Times)
US car sales jumped by more than 13 per cent in 2012, the fastest growth rate in more than two decades, as the sector fought through economic headwinds to continue rebounding from near-collapse in 2009. The big three US carmakers all posted domestic sales gains in December. (Financial Times)
Let me Google that for you. The US has ended a sweeping antitrust investigation of Google without imposing any sanctions on its core search business, even as the US internet company negotiates more extensive changes to its business practices with regulators in Europe. (Financial Times)
FURTHER FURTHER READING
- American students are ever more indebted.
- Look into my crystal ball, these are the market structures we see.
- Angie, this will be tough, but you need to smile more and groom someone.
- Don’t look at the Dow’s yearly performance. It’s frighteningly volatile. (Psst! Here it is.)
- Ladies and gentlemen, the CFTC brings you the inaugural provisionally registered swap dealers list!
- Will Shamu make a splash?
- Get ready for Teddy!