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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
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Published On Mon, Nov 2 2009, 07:47 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
Legal disclaimer and risk disclosure
The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Related reports
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