|Call rate on 14th||9.95%|
|S&P 500 returns||-0.53%|
|Nikkei 225 (9:33 AM IST)||-0.70%|
|US Financials index||+4.55%|
|ICICI Bank ADR||-0.94%|
|Currency futures (9:33 AM IST)||48.67|
- RBI liquidity support of Rs.20,000 crore for mutual funds facing redemptions, but see this and this also.
- Ben Bernanke speaks, in Wall Street Journal.
- Gordon Brown will will be in the history books for having put UK financial and monetary policy on a sound footing, and having played a key role in solving the Panic of 2008.
- Some firms in India are booming in this time of distress in the US.
- Creative destruction in hedge funds.
- David Brooks is pessimistic about how US economic policy will shape up in an Obama presidency.
- Buying gold is a vote of no confidence in civilisation in general, and fiat money in particular. As the current joke goes, one man says to another: "The global financial crisis is making me really pessimistic. I'm starting to buy gold". The other replies "You're an optimist; I'm stocking up on rice".