The Week Ahead in Europe
Busy week ahead as Burberry, Nokia and Fiat report fourth-quarter earnings and German economic sentiment index in focus.
Earnings roll on, with results coming from State Bank of India and LG Electronics, while Japan is expected to begin buying corporate debt. Michael Kitchen reports.
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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January 19th, 2009 at 1:42 am
1:30 A.M. …?
Try melatonin.
~~~
BR: Any blog software allows for the scheduling of posts at any hour of the day, while I gently dream of curvy race tracks and data analysis . . .
January 19th, 2009 at 2:29 am
Barry, I was in Shanghai and Nanging back in April 2008 on a trade mission. Isaw square miles of Shanghai already leveled — right next door to cranes and rising apartment buildings — just like an assembly line. Is that over? If it is, then it is an indication that the speed of approaching meltdown is increasing and its force far greater than anticipated by most. I conclude that those who determine policy are content for now to just buy some time. . . in hopes of . . .
January 19th, 2009 at 2:32 am
instead of “approaching meltdown” that might be acuurately described as “offically acknowledged meltdown”