Libor Surges to Nearly 7% But US Stock Futures Rise on Bailout Bill Revival Hopes
Posted by James Breen at 3 October 2008 12:41
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Delicious Digg Facebook reddit Technorati Yves Smith | Sep 30, 2008 Markets persist to be roiled by the upset of the endeavor to gorge the touted Paulson bailout amount. As of this letters, the FTSE and Dj Stoxx 50 are up somewhat, but money markets took a beating, the corollary worsened by end-of-house factors. From Bloomberg: The loss of borrowing in dollars overnight surged the most on recording after the.
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Wachovia ditches Citi, sells itself to Wells Fargo for $15B in livestock. Wells Fargo (WFC) presented Wachovia (WB) $15B belated Thursday in its shares to buy it as an intact band, lacking FDIC assistance. The deal is appeal $7/piece, based on WFC's Thursday close. Wachovia was in talks with Citigroup (C) about a FDIC-brokered trade that would have included government aid - which sent its shares plunging. WB clogged Thursday at $3.91, after trading below $2 on Monday when gossip of the Citi split.
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Well the action in Russia this week has moved on slightly, and the break has started to paste from hassle on the domestic stash market (accompanied by money flight) to the heartfelt market - via a very brisk tightening in belief conditions for Russian domestic users. We are also since a fast retard in Russian manufacturing industry as interior want slows while the inflation-driven decline in loss competitiveness continues to make imported products (where existing) an attractive.
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