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US Fed steps in to help out Fannie Mae and Freddie Mac as latter sells $3B bonds today
Mon, Jul 14 2008, 06:42 GMT
by Nicole Elliott
Quote:
‘To judge from the notions expounded by theologians, one must conclude that God created most men simply with a view to crowding hell.’ Marquis de Sade (1740-1814)
The News:
US Fed steps in to help out Fannie Mae and Freddie Mac as latter sells $3B bonds today. IndyMac becomes the fifth US bank to go under (and third biggest ever) as the FDIC takes over
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
09:30 GB June PPI Input (+1.3% to +3.0% M/M, +27.3 to 29.8% Y/Y, versus +3.8% and +27.9% May).
09:30 GB June PPI Output (+0.5% to +1.5% M/M, +9.2% to +10.3% Y/Y, versus +1.6% and +8.9% May).
10:00 EZ15 May Industrial Production (-3.0% to 0% M/M, -1.7% to +2.0% Y/Y, versus +0.9% and +3.9% April).
15:00 US Fed’s governors vote on final amendments to subprime and hybrid borrowers’ protection rules.
00:01 GB June BRC Retail Sales Monitor (versus 1.9 May).
00:01 GB June RICS House Price Balance.
The Psychology:
The Bank of Japan starts a two-day rate-setting meeting (expected unchanged at 0.50%). French holiday.
The Risk:
Investors running scared and not thinking carefully.
Today’s most interesting chart: Euro
Strongest ever weekly close; same for the Australian dollar.
Published on Mon, Jul 14 2008, 06:47 GMT
Archive
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Published On Fri, Nov 28 2008, 07:11 GMT - Indian militants target British and US citizens in Mumbai, killing and setting fire to prominent targets
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Published On Wed, Nov 26 2008, 07:35 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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