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Malleable mesmerism

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Pretty much a sideways move for the day with All Ords finishing +0.5%. IT +1.6% led the way followed by Miners +1.4%, Materials +1.2% and Gold +1.1%. Consumer Staples had the largest drop, -1%.


Over in Asia, China +2.4%, Honkers +1.2%, India +0.4% and Nikkers closed for a holiday.



On to UK/Europe:












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China Currency Reserves May Hit $2.5 Trillion, Stoking Tensions


China’s foreign-exchange reserves, the world’s largest, may have climbed to a record $2.5 trillion, adding fuel to complaints that the nation’s currency intervention is undermining the global economic recovery.


Currency holdings rose about $48 billion in the third quarter, according to the median estimate in a Bloomberg News survey of eight economists. That would compare with a $7 billion gain in the previous three months, the smallest increase in 11 years. The central bank may release the number this week.


China’s currency reserves topped $2 trillion in the first half of last year.


$2T+ ... is that a lot? :o

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Finance Chiefs Fail to Resolve Currency Spat as G-20 Splits


Leaders of the world economy failed to narrow differences over currencies as they turned to the International Monetary Fund to calm frictions that are already sparking protectionism.


Exchange rates dominated the IMF’s annual meeting in Washington on concern that officials are relying on cheaper currencies to aid growth, risking retaliatory devaluations and trade barriers. China was accused of undervaluing the yuan, while low interest rates in the U.S. and other rich nations were blamed for flooding emerging markets with capital.


Finance ministers and central bankers pledged to improve cooperation, yet did little to show how they would alter their ways beyond agreeing to let the IMF study the matter.

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Germany Opposes Extending Greece's Bailout Repayment Schedule


The International Monetary Fund is prepared to give Greece more time to repay its loan to the institution if European nations, which provided the bulk of a joint 110 billion euro ($154 billion) package, decide to do so first, Managing Director Dominique Strauss-Kahn said.


“If the Europeans decide to do something, we certainly will do the same thing,” Strauss-Kahn said. “We can do this and it may be useful, but it’s only a small part.”


“Greece has borrowed a lot, therefore there are really problems how to service all this debt in the context of a shrinking gross domestic product and very slim growth prospects,” said Domenico Lombardi, a former IMF board member and a senior fellow at the Brookings Institution. Spreading the repayment schedule is about giving “more breathing room for the Greek treasury.”

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Stoopid headline already..Huge Johnson knows stuff...


Something tells me these clowns are too trusting...looks at the words... Hopes, belief, seems, view, wankers, douches, dopes, moran's



Wall Street to open higher on stimulus hopes


"It's dollar down, stocks up, and now the view that seems to be taking hold is that central banks throughout the world are going to continue to be accommodative, if not be more accommodative than they have been," said Hugh Johnson, chief investment officer of Hugh Johnson Advisors LLC in Albany, New York.


"The stimulus from central banks throughout the world gives everyone the belief the market is going to be headed higher."

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