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Chinese securities regulators plan to allow the issue exchangeable bonds

Fri, Aug 22 2008, 06:15 GMT
by Nicole Elliott

Mizuho Corporate Bank


Quote:

‘Had we but world enough, and time,

This coyness, lady, were no crime.

The grave’s a fine and private place,

But none I think do there embrace.’ Andrew Marvell (1621-1678)


The News:

Chinese securities regulators plan to allow the issue exchangeable bonds which will eventually be swapped for shares in yet another attempt to prop up the stock market.


The Numbers:

British Summer Time, with expectations and previous figures in brackets.

00:50 JP Bank of Japan Minutes of July 14/15th meeting.

06:00 JP July Supermarket Sales +0.9% Y/Y versus –0.9% June.

09:00 EZ15 June Current Account (versus -€7.3B May).

09:30 GB Q2 GDP (0% to +0.3% Q/Q, +1.4% to +1.7% Y/Y, versus +0.2% and +1.6% Q1).

10:00 EZ15 June Industrial New Orders (-2.5% to +0.1% M/M, -12.0% to –5.0% Y/Y, versus –3.5% and –4.4% May).

15:00 US Fed’s Bernanke speaks on financial stability, Jackson Hole.


The Psychology:

Bank Holiday in London Monday 25th, the last Monday in August and Notting Hill Carnival.


The Risk:

The whole financial system is extremely fragile and could topple sooner rather than later.


Today’s most interesting chart: Nymex Crude Oil

Bouncing from retracement support, as are metals and currencies against the US dollar.


Archive

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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