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In the Markets

Posted:24/11/2008 8:13 by Eric Culp

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* Citigroup bailout for $306bln agreed by US govt as well as $20bln capital injection * German Ifo seen down to 89.6 in Nov (median 88.7), down from 90.2 in Oct * UK pre-budget report expected to contain VAT cuts, tax changes and fiscal stimulus * UK GDP to shrink by 1.5% in 2009 forecasts NIESR; shrinking for 6 quarters in a row * European calendar also has eurozone Sep current account and industrial orders * US calendar has $36 bln 2-yr notes auction and Oct existing home sales * EUR gains capped ahead of key Ifo and eurozone current account data * US Treasuries steady amid Tokyo holiday; Fed rate alternatives looked at in WSJ * Asian stocks mostly negative after Citi bailout, but U.S. DJIA futures higher * Nymex crude prices held above $50 on speculation of OPEC production cuts * Gold rallied and cleared $800 oz amid delivery concerns on futures, safety bid * Thailand Q3 GDP growth moderated to 0.6% q/q, narrowing to 4.0% y/y * Canadian Finance Minister Flaherty said Canada may be in a technical recession * NY Fed's Geithner nominated for Treasury Secretary, Richardson for Commerce * Fed's Plosser: economy slowed dramatically; Evans said risks still skewed to downside click here to return to the top of the page

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