The FT’s markets round-up: “Persisting concerns about Europe’s debt crisis and waning global growth weighed on markets and delivered another session that lacked strategic clarity. But reports that central banks from major economies were prepared to provide liquidity to financial markets after Greek elections if needed, boosted sentiment. In the US, expectations were also compounded by the possibility of further stimulus measures from the Federal Reserve. The FTSE All-World index rose 0.4 per cent, helped by a 1.1 per cent jump for the S&P 500 in New York, but suppressed by a 0.5 per cent loss for the FTSE Eurofirst 300.” (Financial Times)
Global central banks are on edge about the Greek elections this weekend and “stand ready to take steps to stabilize financial markets by providing liquidity and preventing a credit squeeze”, according to a Reuters report. (Reuters)
Allen Stanford was sentenced to 110 years in prison. (Financial Times)
Mervyn King announced that the Bank of England and the UK Treasury were collaborating on a “funding for lending” scheme that would lending to UK banks against a wider pool of collateral. (FT Alphaville)
Credit Suisse was urged by the Swiss National Bank to “bolster its capital base this year to prepare itself for a possible worsening of the eurozone sovereign debt crisis,” reported the FT. (Financial Times)
FURTHER FURTHER READING
- Call Me Maybe vs the Euro crisis: “One is a banal string of saccharine statements, punctuated by swift choruses of action. The other is a pop song.”
- “I am irrational. I have kept my money in Greece. That’s because I am still optimistic that common sense will prevail.”
- A report that Tim Geithner suggested Hilary Clinton as his possible replacement.
- Hair braiding and the licensing problem.
- A better name for Eurobonds.