Feeds/newsletters
Overnight markets
Asian markets opened strongly today, but did not match yesterday’s gains in Europe and the US despite the positive implications for tech heavy developed Asian markets of Intel’s good results — the 12% sequential growth in revenues is one of the most encouraging bits of news out recently. That said, every major Asian market is currently up on yesterday.
Strong economic growth in China appears to be good news, as the stimulus works, but it looks a little too good to be true given that the markets China sells to are still weak. This could easily lead to inflation once the rest of the world economy picks up, as well as over-valued assets (shares and property).
The denial of a further US government bailout to CIT Group, looks likely to leave the lender insolvent. While the US government has clearly decided that CIT is not big enough to be a source of a systemic failure, there are bound to be some re-percussions — CIT debt holders may be able to absorb the loss, but it may have a significant impact on them.
We need user contribution, so please suggest stories/links
Comments