|S&P 500 returns||-4.17%|
|Nikkei 225 (9:20 AM IST)||+1.17%|
|US Financials index||-5.75%|
|ICICI Bank ADR||-6.56%|
|Call rate on 15th||6.58%|
|Currency futures (9:19 AM IST)||48.99|
- RBI moves once again.
- Seven elements of the policy response by Ila Patnaik.
- Editorial in Financial Express on NREG as automatic stabiliser
- Meghnad Desai worries about the fiscal situation of the G-7 in Financial Express.
- Editorial in Financial Express on FMPs.
- Declaration of the G-20.
- Jayanth Varma on financial sector soundness in Financial Express. I also closely watch stock market valuations of banks.
- Some improvements on rules about commodity derivatives transactions by Indian firms on overseas markets.
- Banks seem to have started raising deposit rates in an attempt to hoard liquidity. Also see this story in Hindustan Times.
- M. Govinda Rao in Business Standard on the fiscal position.
- Sugata Ghosh in Economic Times describes how RBI is inching closer to the joys of exchange traded derivatives, away from their traditional bias in favour of OTC derivatives.
- Business Standard gets it on short selling.
- An editorial in Indian Express.
- An editorial on dollar liquidity in Financial Express.
- The House of Tata is making progress on raising some cash. Of the $2.7 billion transaction, roughly a fourth goes into Tata Sons.
- Read and participate in a good discussion on credit rating agencies that was none of my doing.
- John Cochrane on whether this is a good time to buy US equities.
- Article by Richard Milne in Financial Times about how large firms are overcoming the infirmities of banking on the subject of their supply chain.
- Understanding the problem of liquidity by Lasse Heje Pedersen, on voxEU.