The Day Today

"The Day Today" - 27 Jan 2014

* Greek fallout begins: ECB’s Coeure says “Mr. Tsipras must pay…. if he doesn’t pay, it’s a default and it’s a violation of European rules”
* Greece needs EUR 28bn this year,

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"The Day Today" - 21 Jan 2015

* Bill White, the man who predicted the financial crisis, warns the current situation is even worse: “We are holding a tiger by the tail”; and that more QE won’t work: “Sovereign bond yields haven’t been so low since the ‘Black Plague’: how much more bang can you get for your buck?”

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"The Day Today" - 20 Jan 2015

* China data better than expected – the stock market rallies from the 7% loss of the previous trading day:
Q4 GDP 7.3% vs 7.2% exp
Dec Retail Sales 11.9% YoY vs 11.7 exp
Dec IP 7.9% vs 7.4 exp
Dec Fixed Asset Invmt 15.7% vs 15.7 exp

* France’s Hollande lets the cat out of the bag,

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"The Day Today" - 16 Jan 2015

* Greek banks apply for Emergency Liquidity Assistance after losing capital from CHF loans, and foreigners no longer buying T Bills
* FXCM (big FX broker, $1.4trn trades last quarter) says it lost $225m and is trying to shore up its capital
* IG Index says it lost £30m
* Excel Markets (smaller broker who trades as matched principal) closes down as clients lost so much money they were unable to cover it
* John Hancock Absolute Return Currency Fund loses 8.7% ($1.9bn AUM)

* As much money is flowing into European money mkt funds this January as for the whole of Jan 2013,

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