The dollar and sterling plunged and government bond yields in the US and Europe fell to multi-decade lows as investors tried to digest the implications of the Federal Reserve’s new near-zero interest rate policy. - Dec-17
前日の米国・欧州市場Stocks were mixed as investors rethought the implications of the Fed's new policy course. Energy stocks rose, while utilities declined.
Wall Street stocks retreated from a monthly high as euphoria over the Federal Reserve’s interest rate cut to virtually zero faded in the wake of Morgan Stanley’s results - Dec 17 2008 20:10
London equities held steady on Wednesday, as global gains inspired by the Federal Reserve’s latest reduction in US interest faded. - Dec 17 2008 20:24
French lender’s corporate and investment banking arm will make a pre-tax loss of €710m in the first 11 months of the year, including a €350m potential loss from exposure to Madoff - Dec 17 2008 09:40
Asia-Pacific shares were mostly higher following the Federal Reserve’s historic rate cut with expectations rising that the Bank of Japan will follow suit when it meets on Thursday and Friday - Dec 17 2008 10:53
The Fed cut its target interest rate to historic lows and said it could expand lending and securities purchase programs as it seeks to use every option to lift the U.S. out of recession.
[FT.com]
Citi set to
merge two key divisions
The investment and corporate banking operations are to be combined in yet another attempt by the US financial conglomerate to break down barriers between its businesses - Dec 17 2008 03:11
Morgan Stanley posts $2.2bn quarterly loss
A ‘savage’ downturn in markets in November plunged Morgan Stanley into a bigger-than-expected $2.2bn loss in the fourth quarter, as the bank’s trading, advisory and prime brokerage operations were hit hard - Dec 17 2008 17:45
Record oil cut fails to lift prices
The depth of the world’s economic downturn was highlighted when the Opec oil cartel appeared powerless in its quest to drive up prices even after agreeing a record cut in its production - Dec-17
The Bank of Japan is under growing pressure to act more aggressively to boost the recession-mired economy, with many economists expecting a further trimming of its already slim 0.3 per cent policy rate this week - Dec-17
A steep sell-off in the dollar in recent days has led investors to ponder whether the US currency’s strength since July has just been a blip in a longer-term downward trend - Dec 17 2008 20:58
The Opec oil cartel announced a further – and record – 2.2m barrels a day cut on top of the 2m b/d it had pledged since September, in an attempt to shore up falling oil prices. - 17:48
Crude oil prices remained choppy on Wednesday after Opec announced its largest ever single supply cut with a 2m barrels-a-day reduction in output - Dec 17 2008 20:42
[Economist.com]
Bavarian baksheesh
The stench of bribery at Siemens signals a wider rot in Europe
The Fed fixes bayonetsInterest rates are close to zero as the Fed promises more unconventional measures
[International Herald Tribune]For having the confidence to sketch an ambitious future in a gloomy hour, and for showing the competence that makes Americans hopeful he might pull it off, the President-elect is TIME's Person of the Year. Full Story »
Latest HeadlinesPointing to sagging demand and slide in prices, oil consortium cuts production by 2M barrels a day.
Steven Mufson