Wednesday, November 05, 2008

Crisis watch, 5 November

TED spread 2.23
S&P 500 returns +4.08%
VIX 47.73
Nikkei 225 (11:10 AM IST) +3.56%
US Financials index +5.17%
ICICI Bank ADR +7.28%
Call rate on 4th 7.43
Currency futures (11:10 AM IST)47.05
  • I wrote an article Will the money market go into Crisis #3? in Financial Express today.
  • Ila Patnaik in Indian Express on monetary policy.
  • Gautam Chikermane on mindless bailouts.
  • See this editorial in Financial Express and this one in Indian Express.
  • Christopher Cox on reforming the US SEC. When they merge the US SEC and the US CFTC, I hope the merged entity looks more like today's CFTC and less like today's SEC.
  • Stephen Schwarzman of Blackstone Group, in Wall Street Journal on key principles that financial sector reform must emphasise.
  • The economic slowdown in China, by Ariana Eunjung Cha in Washington Post. The Shanghai Composite index has yielded nominal returns of 0% over the last 8.7 years. Things worked out slightly better in India. 8.7 years ago, Nifty was at 1722, which yields average annual returns of 7.15% over that period.

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