Holdouts’ opposition papers in the Argentine pari passu saga had just landed at pixel time on Friday. Here’s the one from NML itself, and here’s the one from other holdouts including Aurelius Capital.
We’ll try to do a proper take later on what the briefs say, but first, we thought we’d devote this post to some context on where the litigation is going as well. Read more
The preliminary UK GDP estimate for the fourth quarter is out and it looks like there’s been a return to err.. contraction.
Via the ONS:
GDP was estimated to have decreased by 0.3% in Q4 2012 compared with Q3 2012. Output of the production industries was estimated to have decreased by 1.8% in Q4 2012 compared with Q3 2012, following an increase of 0.7% between Q2 2012 and Q3 2012.
Live markets commentary from FT.com
Reforming risk-weights || Linc Energy || Danish central bank goes less negative || Britain’s economy shrinks || MPS shareholders to vote on bailout || LTRO withdrawal raises fear of stigma || Samsung foresees greater smartphone competition || Boeing 787 battery fire unprecedented || Europe’s carbon market in disarray || Microsoft hints at lower prices || Lenovo signals interest in RIM Read more
They all come from this Stefan Ingves speech given on Thursday — in which the Basel Committee chair addresses “some concerns… that banks are not calculating risk weighted assets” – the denominator in a bank’s regulatory capital ratio – “consistently”.
Basel is about to release results of a probe into banking and trading books… Read more
Elsewhere on Friday,
– Information assymetry is expensive.
– Watch US housing inventory this year.
– Something… sinister? Read more
Asian markets mixed || Samsung outlook pushes shares down despite record profit || Osborne vows to stick with austerity || Monti under fire over bank crisis || Rehn says Cypriot rescue requires cuts to debt || Dreamliner investigation could be lengthy || Lenovo considering RIM bid || EU carbon market in disarray || Caterpiller-ERA auditors revealed || The big systemic threat of 2013 Read more