|S&P 500 returns||-0.25%|
|Nikkei 225 (11:10 AM IST)||+5.72%|
|US Financials index||-0.14|
|ICICI Bank ADR||+4.73%|
|Call rate on 4th||7.47%|
|Currency futures (11:10 AM IST)||49.125|
- The RBI statement is unusually well written.
- Satish John and Nesil Staney try to track down the dollar shortage being faced by Indian firms. Also see Shalini Dagar in Business Today.
- Arun Kumar has an article in Business Standard with data about companies where bonds are being traded abroad at very high yields. As with the offshore CDS market, this is an interesting measure of which firms are in distress, that we don't get in India owing to the lack of these markets.
- Rajesh Gajra on short selling. SEBI has started started moving on making SLBM work. But they're still in the micro-management mode of specifying details - e.g. the time of day for which the mechanism should work.
- Percy Mistry on what India should be doing.
- Nirvikar Singh on what next for India.
- Jamal Mecklai is long rupee.
- Shruthi Jayaram in Financial Express has written up Gary Gorton's NBER paper on the subprime crisis of 2007.
- John Tamny and Rob Arnott say that one factor that is spooking the equity market is: an Obama presidency.
- Why was Lehman allowed to die? by Lorenzo Bini Smaghi.