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
From the ECB on Friday:
As announced by the Governing Council on 8 December 2011, counterparties have the option to repay, after one year, any part of the amounts that they were allotted in the longer-term refinancing operations settled on 21 December 2011 and 1 March 2012, on any main refinancing operation settlement day. Accordingly, on 30 January 2013 EUR 137159.10 million will be repaid in the tender 20110149 by 278 counterparties.
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
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
1Time to take basic income seriously?
2We cannae give the economy no more, we're giv'n it all we've got Captain
3On what really is different this time around
4The case for official e-money +1
5The WMP whack, revisited
Show more6Hacking and property prices make the BoE big league
7Tax needn't be taxing. It can also be a Hungarian debt wheeze
8Mediocrity and the civil service in China
9"Companies should know who really owns them..."
10The central bank (communications) bubble
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