FURTHER FURTHER READING
-Planet Money makes a t-shirt.
- Obama looked into the platinum coin option after all.
- The ageing of Americans' things.
- Morgan Stanley's non-scandalous accounting gaffes.
- On central banks and property bubbles.
- Americans are less on houses and more on cars.
- Inflation as insurance.
FT EVENING ROUND-UP
Europe to unleash heavy rate-fixing fines: "Brussels will unveil hefty fines as soon as Wednesday on global banks that allegedly formed cartels to rig two global interest rate benchmarks, in a settlement that is set to break European antitrust enforcement records." (Financial Times)
Boom-era credit deals poised for comeback: "Last month Citigroup placed an unusual job advertisement. The bank was seeking an analyst able to crunch the numbers on an obscure financial security: synthetic collateralised debt obligations. Four weeks later, job applicants would find the position filled. Such has been the clamour among investors for the higher yields from higher-risk products that big banks including Citi, JPMorgan Chase and Morgan Stanley are turning once again to the more esoteric parts of the financial markets. Hence the need to hire." (Financial Times)
Caution reigns ahead of US jobs data: "World markets adopted a cautious tone ahead of a series of important risk events later in the week, with equities and the dollar retreating as Treasury bonds and the yen attracted buyers. On Wall Street, the S&P 500 equity index closed 0.3 per cent lower at 1,795, while the FTSE Eurofirst 300 index fell 1.5 per cent, its biggest one-day drop since August. In Tokyo, the Nikkei 225 rose 0.6 per cent, helped by the dollar's early rise to a six-month high against the yen of Y103.37." (Financial Times)
