Monday, December 3, 2012

Finally Greece Unveils Terms of Bond Buyback, FITCH Says US Local Governments are Far From Recovery

From Athens we reporting, finally Greece unveils terms of bond buyback, The cash-strapped eurozone country has offered to buy back up to €10bn of its own debt at a deep discount to the face value of the notes

Asian economic leader, China data fuel investor optimism, Asian markets start the month on a positive note, buoyed by the best China PMI reading in seven months

Latest update from FTSE 100, Banks miss out on broad FTSE 100 rally, Greek debt buyback offer comes as a stark reminder of banks' woes as risk stocks move apart, with strong Chinese data energising miners

Meanwhile, Muddy Waters weighs on commodities traders, Industry executives worry that the US short seller's allegations surrounding Olam are hitting investor appetite for the sector as a whole

Rating agency Fitch warns muni investors on downgrades, Agency says US local governments are far from recovery and tells buyers who piled into the debt it expects to lower the ratings of many issuers in 2013

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