Daily US Opening News And Market Re-Cap: September 29

  • The German lower house passed the EFSF amendment bill with a leading conservative lawmaker noting that the coalition did not need to rely on opposition votes.
  • Fed’s Bernanke said the central bank might need to ease monetary policy further if inflation or inflation expectations fall significantly.
  • German BDB confirms that the 90% target rate for private sector involvement in the second Greek bailout has been met adding that the ECB is well prepared to assist EU banks.
  • Greek PM will travel to Paris on Friday to discuss debt crisis with French president Sarkozy according to a source.
  • Banks and other private sector bondholders are resisting the idea of taking larger haircuts on Greek debt by lobbying countries such as Germany and the Netherlands.

Daily US Opening News And Market Re-Cap: September 26

  • ECB said to debate new 12-month loans at the October 6th policy meeting where they may discuss a rate cut
  • EU may speed up ESM enactment to stem the crisis with Euro aides discussing setting up the fund in 2012 a year early.
  • German IFO data higher than expected on all three readings
  • CME raises margin requirements for longest dated T-Bond futures by 20%