Archive - Dec 1, 2009 - Story

The man who singlehandedly destroyed Iceland, will not rest until he keeps repeating the same failed Keynesian experiment hoping for a different outcome, thus defining, as Einstein would say, insanity. Being a former Fed member, we would expect nothing less of Mr. Mishkin.

• Australia raises interest rates by 25 bps to 3.75% as economy rebounds.
• Auto loan delinquency rate rises in 3Q but some states improve, hinting at recovery.
• Bank of Japan leaves benchmark interest rate at 0.1%.
• Bank of Japan said it will provide 10 trillion yen in short-term loans to commercial banks.
• China’s manufacturing grew last month at the fastest pace since April 2004- HSBC survey.
• Dubai, Abu Dhabi exchanges fall for 2nd day after Dubai World debt bombshell announcement.

RANsquawk 1st December Morning Briefing - Stocks, Bonds, FX etc.