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
Flashes from Bloomberg:
*DELL IS SAID TO BE IN TALKS TO GO PRIVATE Read more
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
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
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
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:
China’s Q4 GDP is due out this Friday. Huzzah!
If you’re wondering how seriously to take it… wonder no more. Read more
Live markets commentary from FT.com
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
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
No, not the radioactive variety. The financial market type, instead.
Here’s the (illiquid) progress of uranium futures over recent months… Read more
It’s not perfect, we know. But the weekly CFTC derivative positioning report is still a useful barometer when it comes to gauging investor sentiment.
On which note here’s the breakdown of the latest report with respect to UST spec positioning, courtesy of TD Securities: Read more
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
Elsewhere on Monday,
- We do it for the glory, duh!
- Dang… double dang.
- The coin abides. Read more
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
1Bernanke weighs in on robot wars; brings Keynes for backup
2About China's capacity to absorb more capital
3Secret liquidity and Scottish independence
4Spain's awful unemployment
5Pump up, debase
Show more6S&P 2,100, by Goldman Sachs
7Everlasting credit, the long view
8Buyback to enrich
9Apple Operations International, facts (?) du jour
10Collateral crunch-counting gets sophisticated
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