|S&P 500 returns||-2.31%|
|Nikkei 225 (9:28 AM IST)||+1.92%|
|US Financials index||-5.02%|
|ICICI Bank ADR||-3.33%|
|Call rate on 8th||5.2601|
|Currency futures (9:31 AM IST)||49.3075|
- Monetary and fiscal policy actions over the weekend. Read my blog post on fiscal, financial and monetary policy responses to the downturn, Ila Patnaik in Indian Express and this editorial in Indian Express.
- John Gapper on hedge funds going down. The old conventional wisdom was that banks were good and hedge funds were bad. I feel the future is going to have more hedge funds and a smaller role for banks.
- Consensus on policy issues on credit rating agencies, by Edward Altman, New York University; Kose John, New York University; Harold Bierman, Cornell University; Edward Kane, Boston College; Marshall Blume, University of Pennsylvania; George Kaufman, Loyola University Chicago; Willard Carleton, University of Arizona; Dennis Logue, Dartmouth College; Andrew Chen, Southern Methodist University; Jay Ritter, University of Florida; Tom Copeland, Massachusetts Institute of Technology; Kenneth Scott, Stanford University; Elroy Dimson, London Business School; Lemma W. Senbet, University of Maryland; Franklin Edwards, Columbia University; Jeremy Siegel, University of Pennsylvania; Robert Eisenbeis, Economic Consultant; Chester Spatt, Carnegie Mellon University; Wayne Ferson, University of Southern California; Robert Stambaugh, University of Pennsylvania; Charles Goodhart, London School of Economics; Laura Starks, The University of Texas at Austin; Martin Gruber, New York University; Marti Subrahmanyam, New York University; Lawrence Harris, University of Southern California; Ingo Walter, New York University; Richard Herring, University of Pennsylvania.
- Avinash Persaud in Financial Express on the fiscal responses to the downturn.
- An editorial in Financial Express on the Chinese exchange rate regime.
- Bruce Bartlett in Forbes on What would Keynes do?
- Larry Summers is going to be a key player in the response to the downturn in the US.