Overnight Markets- Leading News -Update 2

 

European Credit Markets

German bunds fell for a third day on speculation European finance ministers meeting today will reach agreement on a 130 billion-euro ($172 billion) aid package for Greece, reducing demand for the region’s safest securities.

Spain’s 10-year bonds advanced, driving the additional yield investors demand to hold them instead of bunds to a 10-day low as European officials signaled progress was being made on Greece’s second international bailout. Italy’s 10-year bond yield fell to a four-month low after a report showed industrial orders increased more than economists forecast. The Netherlands and France auctioned bills.

“It seems the market is now expecting a positive outcome from today’s euro zone finance ministers meeting,” said Elwin de Groot, a market economist at Rabobank Nederland in Utrecht. “The immediate impact on bunds is negative, because there is less headline risk so it reduces safe-haven demand.”

The German 10-year yield climbed four basis points, or 0.04 percentage point, to 1.96 percent at 2:38 p.m. London time. The 2 percent bond due in January 2022 dropped 0.355, or 3.55 euros per 1,000-euro face amount, to 100.31.

German Finance Minister Wolfgang Schaeuble told reporters today that he is confident euro-area governments will settle the final details of the second aid program for Greece. The Mediterranean nation accepts the idea of paying the aid funds into a special account that will give creditor countries more control over how the money is spent, he said.

http://www.bloomberg.com/news/2012-02-20/german-bunds-fall-for-third-day-as-eu-ministers-meet-on-greece-aid-package.html

SP Warns Japan

http://www.bloomberg.com/news/2012-02-20/japan-s-aa-credit-rating-may-be-cut-if-economic-outlook-weakens-s-p-says.html

Spaniards Protest Being Turned Into American and Chinese Slave Laborers

http://www.washingtonpost.com/business/markets/many-thousands-protest-against-spains-newly-introduced-labor-market-reforms/2012/02/19/gIQAvP2RNR_story.html

Thailand Shrinks 9 pc in 4Q On Floods

http://www.bloomberg.com/news/2012-02-20/thai-gdp-shrinks-9-amid-floods-in-fourth-quarter-almost-twice-estimates.html

Smirkel Politics To Torment Greeks and Germans Continues

http://www.bloomberg.com/news/2012-02-20/merkel-as-europe-s-debt-crisis-iron-lady-bucks-german-street-on-greek-aid.html

London Home Prices Continue Surge

Average asking prices in the U.K. capital rose 2.5 percent from January to 449,252 pounds ($710,300), less than 1,000 pounds below the record reached in October, the operator of Britain’s biggest property website said in a report today. Prices in England and Wales rose 4.1 percent on the month, the most since April 2002.

“Confidence in bricks and mortar in the capital seems set to continue, with ‘seller-power’ twice as strong in London compared to the rest of the U.K.,” Miles Shipside, commercial director of Rightmove, said in a statement. “Upwards price- pressure is likely to be maintained in 2012.”….

http://www.bloomberg.com/news/2012-02-20/london-house-prices-surge-to-near-record-as-supply-shortage-helps-sellers.html

Brent Surges to 121 as Iran Hoists Brits On their Own Petard

http://www.reuters.com/article/2012/02/20/us-markets-oil-idUSTRE81C0T620120220

Iran Stops Oil Shipments to English/French Firms

The greasy foreign secretary of England was out opining this weekend that right now might not be the best time to start a war up with Iran.

http://www.reuters.com/article/2012/02/19/us-iran-oil-europe-idUSTRE81I07W20120219

Japan Post Fukushima Blues Trade Deficit Widens

Nuclear power and free fuel from the West always gave Japan a big edge. It’s gone now. Think Solar Japan and LNG from the USA.

http://www.bloomberg.com/news/2012-02-20/japan-s-trade-deficit-widens-to-a-record-as-exports-slump-for-fourth-month.html

Lesbian Engbrew Witch Gillard Vows She Will Continue to Haunt Oz

Send her back to England on her broomstick.

http://www.bloomberg.com/news/2012-02-20/gillard-says-she-will-survive-as-australia-premier-amid-rudd-speculation.html

Germans To Decide Greeks Fate Today

http://www.bloomberg.com/news/2012-02-19/euro-region-ministers-circle-in-on-greek-rescue-as-crisis-disputes-linger.html

Asian Stocks Climb on China Reserve Cut

http://www.bloomberg.com/news/2012-02-20/asian-stocks-climb-dollar-weakens-as-china-cuts-reserve-ratio-oil-gains.html

Purdue University Creates Single Atom Silicon  Cell

The Aussies were just tag alongs. I know I have worked with Aussies in the past in Research. Very impressive. Good job Purdue. The ‘boilermakers’.

http://www.bloomberg.com/news/2012-02-20/transistor-made-using-a-single-atom-in-australia-may-help-beat-moore-s-law.html

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