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Bradford & Bingley and Fortis nationalised; Wachovia in talks to be bought
Mon, Sep 29 2008, 06:48 GMT
by Nicole Elliott
Quote:
‘Railroads are the Rembrandts of investment.’ Henry Clay Frick (1849-1919)
The News:
Bradford & Bingley and Fortis nationalised; Wachovia in talks to be bought.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP August Large Retailers’ Sales –2.2% Y/Y, Retail Trade +0.7% Y/Y, versus –0.7% and +2.0% July.
09:30 GB August Net Consumer Credit (£1B to £1.3B, on Dwellings £1.2B to £3.0B, versus £1.1B and £3.2B July).
09:30 GB August Mortgage Approvals (25K to 32K versus 33K July).
10:00 EZ15 September Business Climate (-0.56 to –0.50 versus –0.33 August).
10:00 EZ15 September Consumer Confidence (-22 to –18, Economic 86 to 88, Industry –13 to –11, Services –1 to 2, versus –19, 88.8, -10, and 3 August).
13:30 US August Personal Income (-0.3% to +0.4%, Spending 0% to +0.5%, versus –0.7% and +0.2% July).
13:30 US August Core PCE (+2.3% to +2.5% Y/Y, Deflator +4.4% to +4.5%, versus +2.4% and +4.5% July).
00:01 GB September GfK Consumer Confidence (-42 to –36 versus –36 August).
The Psychology:
Holidays in China, Israel, Saudi Arabia, Turkey and United Arab Emirates today and Tuesday. Also Bahrain, Egypt, Hong Kong, Kuwait, Malaysia, Oman, Qatar and Singapore Wednesday and Thurs, S. Korea Friday.
The Risk:
Too many hopes resting on the $700B US bailout package.
Today’s most interesting chart: South Korean won/JPY
Weakest since September 2001.
Published on Mon, Sep 29 2008, 06:52 GMT
Archive
- US regulators close seven banks yesterday, six in Illinois, bringing total to 52 so far this year
Published On Fri, Jul 3 2009, 06:40 GMT - US June vehicle sales –28% to 9.69 million units, Domestic 7.2M
Published On Thu, Jul 2 2009, 06:30 GMT - A very slow recovery means rates could stay close to zero for years
Published On Wed, Jul 1 2009, 06:40 GMT - Fannie Mae's seriously delinquent mortgages 3.42% vs 1.22% year ago on total $789B portfolio
Published On Tue, Jun 30 2009, 06:22 GMT - The country is not spiralling in to deflation
Published On Mon, Jun 29 2009, 06:41 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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