Posts from Monday Jan 14 2013

The Closer

ROUND-UP

Quote of the day: “I’m not going to give that any oxygen” — Ben Bernanke on the trillion-dollar coin at Monday’s University of Michigan speech. Read more

And the beat goes on, Dell edition

Flashes from Bloomberg:

*DELL IS SAID TO BE IN TALKS TO GO PRIVATE Read more

The small job creators versus the big non-creators

What’s to blame for the sluggish pace of jobs growth in the US economic recovery?

Citi economists Nathan Sheets and Robert Sockin have found evidence that the woes of small businesses might have something to do with it. Read more

JPMorgan throws itself between survey and clients

Forex bods at investment banks are ready; forex investors have braced themselves. It’s that time of year when sales people ring up their clients to ask them to vote in the Euromoney FX poll — the only industry standard for measuring how much forex volume the banks do and who comes out on top. Everyone who’s anyone is taking part.

Well, until now. JPMorgan has decided that it is no longer playing ball, because its clients are fed up with being asked to vote, the bank says. Here is the letter the bank just sent out today to all its clients, explaining its terrible sacrifice… Read more

EuriBORE: oh sorry, does this fat finger belong to you?

The ESMA-EBA published their report on the administration and management of Euribor on Friday. Among the outline of the now familiar shortcomings of such benchmarks were tables demonstrating basic operational failures, e.g. fat finger errors by panel banks… Read more

The Financial Policy Committee’s mighty powers

Fresh from the Bank of England — it’s a draft Policy Statement explaining the planned powers for the Financial Policy Committee to give directions setting extra capital requirements for the purposes of financial stability. Click the image for the full doc:

 Read more

China’s non-conforming GDP growth

China’s Q4 GDP is due out this Friday. Huzzah!

If you’re wondering how seriously to take it… wonder no more. Read more

Markets Live: Monday, 14th January, 2013

Live markets commentary from FT.com 

Ambushing the yen, China style

The ‘currency wars’ are usually a bit more abstract than this.

Just as the Japanese look to be finally weakening their stubborn yen and spur some inflation in a stagnant economy, there is a suggestion, just a suggestion mind, that a deliberate plan to scupper, or at least hinder, that plan might be afoot. Read more

The (early) Lunch Wrap

Goldman may delay UK bonuses for tax cut || ESM bank bailouts might be more burdensome than expected || JP Morgan board may release Whale report critical of Dimon || Plan for pan-EU telco market || Goldman says ACA knew about Paulson short || UPS takeover of TNT Express collapses || Ferragamo CEO upbeat on 2013 || Markets: Global stocks start at fresh 19-month high Read more

A uranium leak?

No, not the radioactive variety. The financial market type, instead.

Here’s the (illiquid) progress of uranium futures over recent months… Read more

About that sovereign-bank link we said we’d break…

Wow. So it looks like the EU maybe won’t be breaking the sovereign/bank doom-loop after all!

The FT’s Peter Spiegel has seen a proposal from the European Commission that throws yet more doubt, if such a thing is even possible, on the seriousness of the June 29 eurozone statement that recognised “the imperative to break the vicious circle between banks and sovereigns”. Read more

Further reading

Elsewhere on Monday,

- We do it for the glory, duh!

- Dangdouble dang.

- The coin abidesRead more

The 6am Cut London

Goldman may delay UK bonuses for tax cut || ESM bank bailouts might be more burdensome than expected || Asian shares rise, yen reaches two-year low || JP Morgan board may release Whale report critical of Dimon || Plan for pan-EU telco market || Goldman says ACA knew about Paulson short || UK financial sackings, suspensions reach five-year high Read more