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In the Markets

Posted:21/11/2008 8:17 by Eric Culp
* Citigroup looking for merger partner; news sparks strong stock bounce in Asia * EZ November manufacturing PMI seen falling to 41.0 (median 40.6) from 41.1 * European calendar also has EZ services PMI, seen down at 45.3 (median same) * ECB's Mersch: Large interest rate cuts could be counterproductive * US calendar quiet, no data; Fedspeak due from Lacker, Plosser and Evans * Canadian calendar has Oct CPI, is expected steady at a 3.4% y/y, core +1.9% y/y * USD pared latest gains as Asian shares and U.S. stock futures rallied on Citi news * BoJ maintained policy rate steady at 0.30%, as expected, by unanimous vote * Asian stocks bounce back from early losses; DJIA futures make triple digit gains * Further RBA intervention seen in support of AUD under 0.6100 * NYMEX crude futures decline under $49; Base metals extend losses * Treasury yields edged up from historical lows on Asian stock market gains * Fed's Bullard says deflation is an issue that the Fed must face * US Treasury's Paulson: necessary steps taken to avoid collapse of financial system * US auto sector loan agreement "reports" put floor under stocks, yields, dollar * US credit spreads continued to widen, pressure banks, on commercial mort risk * US 2year Treasury yield slid sub-1% on rising deflation fears, global stock losses click here to return to the top of the page
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