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CIT Group Inc. files for Chapter 11 protection
Mon, Nov 2 2009, 07:47 GMT
by Nicole Elliott
Quote:
On president Sarkozy’s never used £250K bathroom and £23K per head of state dinner: ‘The Napoleonic ambition of Brussels is underlined by the throwaway extravagance of its elite’. Nigel Farage (1964-)
The News:
CIT Group Inc. files for Chapter 11 protection; fifth biggest US failure.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
00:01 GB October Hometrack Housing Survey +0.2% M/M, -4.2% Y/Y, versus +0.2% and –5.6% September.
01:30 JP September Labour Cash Earnings –1.6% Y/Y, -12.5% Overtime, versus –2.7% and –13.4% August.
05:00 JP October Vehicle Sales+12.6% versus +3.5% September.
08:30 CH October PMI (53.6 to 56.0 versus 54.3 September).
09:30 GB October Manufacturing PMI (49.6 to 50.5 versus 49.5 September).
15:00 US October Manufacturing ISM (52.0 to 54.0, Prices Paid 61 to 66, versus 52.6 and 63.5 September).
15:00 US September Pending Home Sales (-2.0% to +3.0% versus +6.4% August).
15:00 US September Construction Spending (-0.6% to +0.4% versus +0.8% August).
15:30 FR ECB’s Noyer testifies on banking regulation, Paris.
20:00 US Fed’s Tarullo speaks on incentive compensation, Washington.
The Psychology:
Holidays in Brazil, India, Mexico and the Philippines today; Japan tomorrow.
The Risk:
Stock markets try to hold current levels but give up the ghost later in the week.
Today’s most interesting chart: Nikkei 225
Dropping below the Ichimoku ‘cloud’, testing a ‘head-and-shoulders’ neckline, here and similar formations in many indices.
Published on Mon, Nov 2 2009, 08:15 GMT
Archive
- US House Committee postpones vote on banking reforms
Published On Fri, Nov 20 2009, 07:44 GMT - South Korea to limit FX forwards; Taiwan frets over ‘hot money'
Published On Thu, Nov 19 2009, 07:55 GMT - Short term interest rates drop closer to zero
Published On Wed, Nov 18 2009, 07:34 GMT - More dive in to top quality government bonds
Published On Tue, Nov 17 2009, 07:39 GMT - All and sundry banging on about the Chinese currency as president Obama hit Shanghai
Published On Mon, Nov 16 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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