|S&P 500 returns||+0.29%|
|Nikkei 225 (9:02 AM IST)||+1.42%|
|US Financials index||+0.86%|
|ICICI Bank ADR||+1.30%|
|Call rate on 20th||6.55%|
|Currency futures (9:06 AM IST)||47.4325|
- I have an article in Financial Express today about the policy rate of zero at the US Fed.
- Ila Patnaik tracks the VIX, the US dollar and the US Baa credit spread.
- An editorial in Business Standard worries that banks won't lend.
- Jayanth Varma in Financial Express on the fiscal constraints of governents.
- Mahesh Vyas writes in Financial Express that smaller companies are where the problems are concentrated.
- The subject of ethics has come back to prominence. See my blog post Goodbye great moderation, hello financial fraud? and my blog post on Satyam. If the climate gets sullied, it could worsen entry barriers and competition in India. Catherine Rampell has an excellent explanation of Ponzi schemes in the New York Times, but see Becker and Posner also. Alessandra Stanley misses the sex.
- A speech by Charles Plosser on new questions about financial innovation and financial stability.
- Gideon Rachman says: It would be a historic irony if the Chinese Communist party was thrown into crisis, not by the collapse of communism in 1989 but by the convulsions of capitalism in 2009.
- Japanese companies still invest in themselves by Martin Fackler, in the New York Times.