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G-20 Recap: Global Financial Coordination Continues
Executive compensation, promises of financial reform, and how to implement policy exit strategies were focal points of the G-20 meeting in London over the weekend. Results of the meeting seem fairly minor, but the lack of large font headlines is probably a good thing. Like plane landings, global co-ordination and policy agreement rarely make headlines.rnrnEven before the meeting, Treasury Secretary Tim Geithner said the meeting was unlikely to produce new initiatives. Member nations were instead giving updates on how financial reforms were progressing. A chance to plot new initiatives will be two weeks from now, when another G-20 meeting is
Markets Get Back to Work
Extending on two days of gains before the long weekend, equity futures are looking higher on Tuesday with the benchmark S&P a full 1% up. Globally, equity markets were in the black across the board, including a 2.14% advance in Hong Kong’s Hang Seng and a 1.71% gain in China’s Shanghai index. rnrnMultiple factors are responsible for the broad gains. Kraft's proposed $16.7 billion cash-and-stock bid for Cadbury helped boost UK markets, while UK industrial production numbers more than doubled expectations with a 0.5% gain. Germany’s trade surplus was also bigger than anticipated, and Swiss unemployment rose less than expected
FHA Disputes Whispers of Capital Reserve Problems
The Commission of the FHA responded this morning to an article in the Wall Street Journal that stated the agency was nearing the trigger point mandated by Congress for its capital reserves. David Stevens said that additional reserves will prevent major problem.
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