Economy
Existing Home Sales in U.S. Rise More Than Forecast, Spurred by Tax Credit Sales of existing U.S. homes jumped
10 percent in October to the highest level since February 2007
as Americans rushed to take advantage of a tax credit, cheaper
properties and lower mortgage rates.
Europe Manufacturing, Services Industries Grow at Fastest Pace in 2 Years Europe’s services and manufacturing
industries expanded at the fastest pace in two years in November
after a reviving global economy helped the euro region emerge
from the worst recession in more than 60 years.
Dollar Slump Persisting as Most Accurate Forecasters See No Bottom in 2010 The most accurate dollar forecasters
predict the world’s reserve currency will continue sliding even
when the Federal Reserve begins to raise interest rates, which
policy makers say is an “extended period” away.
Eastern Europe Proving Too Good to Last as Runaway Debt Erodes 50% Return Eastern Europe, where currencies and
equities combined to produce total dollar-denominated returns of
about 50 percent this year, is showing signs of unraveling as
the continent’s favorite investment because of runaway debts.
Israeli Central Bank Raises Key Rate for Second Time Since Recovery Began The Bank of Israel unexpectedly
raised the benchmark interest rate for a second time since the
global economy began to recover as growth accelerated and
inflation approached the top of the government’s target range.
Bills Yielding Zero as Stocks Soar Give Investors Bernanke Moment of 1938 For the first time in seven decades,
Treasury bills are paying no interest while stocks continue to
appreciate -- a divergence in U.S. financial markets that might
be perilous if Federal Reserve Chairman Ben S. Bernanke didn’t
know all about 1938.
South African Economy Rebounded in Third Quarter as 2010 World Cup Nears South Africa’s spending to host the
2010 FIFA World Cup, the world’s most-watched sporting event,
and a rebound in manufacturing may have pulled the economy out
of its first recession in 17 years in the third quarter.
Banks' Losses From Global Crisis Still 50% Unrevealed, Strauss-Kahn Says International Monetary Fund Managing
Director Dominique Strauss-Kahn said that about half of bank
losses from the global financial crisis have yet to be revealed.
Taiwan's Export Orders Rise for First Time in 13 Months, Spurring Recovery Taiwan’s export orders climbed in
October for the first time in 13 months as stronger demand for
electronics goods spurs the island’s economic recovery.
China Risks Japan 1980s-Style Bubble With Loose Monetary Policy, BNP Says China is risking a Japan-style
bubble unless the country’s regulators start to rein a record
lending boom, BNP Paribas said.
Dubai Ruler Removes Aides in Effort to Court Investors Ahead of Bond Issue Dubai ruler Sheikh Mohammed Bin
Rashid Al Maktoum fired one senior aide and removed three others
from the board of Dubai’s main holding company as the debt-laden
emirate tries to secure a second $10 billion injection of funds.
Bullard Says Fed Should Retain Authority to Extend Asset-Purchase Program Federal Reserve Bank of St. Louis
President James Bullard said the central bank should retain the
flexibility to respond to any weakening in the economy by
extending beyond March its authority to buy mortgage-backed
securities and agency bonds.
Bills Yielding Zero as Stocks Soar Give Investors Bernanke Moment of 1938 For the first time in seven decades,
Treasury bills are paying no interest while stocks continue to
appreciate -- a divergence in U.S. financial markets that might
be perilous if Federal Reserve Chairman Ben S. Bernanke didn’t
know all about 1938.
Dollar Slump Persisting as Most Accurate Forecasters See No Bottom in 2010 The most accurate dollar forecasters
predict the world’s reserve currency will continue sliding even
when the Federal Reserve begins to raise interest rates, which
policy makers say is an “extended period” away.
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