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It will eliminate 9,200 jobs at Washington Mutual, over 21% of workforce
Tue, Dec 2 2008, 07:26 GMT
by Nicole Elliott
Quote:
‘Childbirth was like being stuck in a room with a thousand skinned rabbits.’ Gordon Ramsey (1966-)
The News:
JP Morgan says it will eliminate 9,200 jobs at Washington Mutual, over 21% of workforce.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(Late) US November Domestic Vehicle Sales 7.8M annualised versus 7.9M October.
03:30 AU Reserve Bank of Australia cuts interest rates 100 basis points to 4.25% from 5.25%; sentiment fragile.
03:45 JP auction result 10-year JGB; coupon 1.40%, bid-to-cover 2.9, low yield 1.345%.
04:00 JP Bank of Japan emergency meeting rates unchanged at 0.30%; Shirakawa news conference at 06:30.
06:45 CH November CPI –0.7% M/M, +1.5% Y/Y, versus +0.5% and +2.6% October.
09:30 GB November Construction PMI (32 to 35 versus 35.5 October).
09:15 NO Norges Bank News Conference on financial stability.
10:00 EZ15 October PPI (-1.1% to 0% M/M, +6.0% to +7.4% Y/Y, versus –0.2% and +7.9% September).
10:30 GB auction result of £2.25B 4.25% 2049 Gilt.
16:30 US Treasury’s Paulson speaks at US-China Economic Dialogue, Washington.
17:00 EU finance ministers’ meeting, Brussels.
17:30 US Fed’s Plosser speaks on the economy, Rochester.
00:01 GB November Nationwide Consumer Confidence (50 to 57 versus 55 October).
The Psychology:
US National Bureau of Economic Research says the recession started a year ago.
The Risk:
Just a matter of time before many markets drop below October’s low on further de-leveraging.
Today’s most interesting chart: US benchmark 10-year yield
Lowest since mid-1950’s.
Published on Tue, Dec 2 2008, 07:32 GMT
Archive
- Israeli artillery fires into Lebanon in response to rocket attacks from there
Published On Thu, Jan 8 2009, 07:29 GMT - Treasury auctions in Germany, UK and US
Published On Wed, Jan 7 2009, 07:18 GMT - Toyota will close plants 11 days in February and March
Published On Tue, Jan 6 2009, 07:37 GMT - EU leaders meet to discuss Russia/Ukraine gas dispute which starts to affect them
Published On Mon, Jan 5 2009, 10:16 GMT - Volume of toxic assets in Germany may be up to $800B, one third of GDP
Published On Mon, Dec 22 2008, 07:29 GMT
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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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