September, 2011
Further further reading
For the commute back to work, at least for those in Asia,
- The CPI is a better indicator than some critics think.
- James Kwak on Steve Jobs, and why the first executive typically makes for the best executive.
Global slowdown alerts…
…in manufacturing (via Credit Suisse):
The August global manufacturing PMI index fell to 50.1 from 50.6 in July, the lowest level since June 2009. The deterioration also marks the sixth consecutive month of decline and the longest losing streak since 2008.
Eurozone wars, or vigilante vs vigilante
Bond vigilantes — per James Carville — are intimidating things.
And no more so than in Europe. Rising bond yields in the region have managed to force austerity onto places like Greece, and are currently testing political will in Italy.
When Solvency met Basel
Solvency II (insurers) and Basel III (banks).
Both add fresh minimum capital requirements to their respective industries. Similarities generally stop there. The very definition of capital is different,
Peering into a US money market fund
There’s been a lot of talk about how the US money market mutual funds are pulling their money out of the eurozone. And generally chopping and changing the nature of their investments.
But how exactly do the mechanics of that work,
Algos & Demons
Spoof Wars continues.
The Financial Services Authority (FSA) has obtained an interim High Court injunction preventing a number of companies and individuals from manipulating the market in UK-listed shares.
No tail risk, please. I’m a bank
Spotted by the sharp-eyed creditplumber in a new paper from the Bank of England’s Paul Fisher:
And the footnote:
How many indeed.
Questions about the Greek restructuring?
Get them from the horse’s mouth. So to speak.
Yes, that’s Greece’s very own Q&A website for its recent bond swap offer — where some questions have already been submitted by bondholders, it appears.
Un petit French funding problème
Rumours of funding problems at French banks have been rife this summer.
Without even getting into specific financial firms, you can see a potential issues.
French banks do have a relatively higher reliance on wholesale funding,
Further reading
Elsewhere on Thursday,
- Why Buffett’s BofA deal is bad news.
- George Magnus says, give Karl Marx a chance.
- What is debt? An anthropological point of view.
- And facts about Ireland’s mortgage debt.
Pink picks
Comment, analysis and other offerings from Thursday’s FT,
John Gapper: It is right to curtail web anonymity
One of the founding principles of the web – not only the technology but the culture that has grown up withit – is that,
Snap news
Breaking pre-market news on Thursday,
- Melrose increases its offer for Charter International to 850p per share — statement and statement.
- UK house prices drop 0.6 per cent in August, biggest fall since October 2010 — Nationwide.