Thursday, March 28, 2013

Cyprus Contagion Fears Hurt Eurozone, EUR Falls Against US Dollar, Sterling and Japanese Yen

Single currency Euro slides as bloc's woes intensify, US data help to brighten mood, initially leaving Wall Street on course for record high, before eurozone woes undermine bullish sentiment

U.S. Stocks S&P 500 edges away from record, Trading took on a decidedly defensive hue, with healthcare stocks and utilities doing best, and financials and materials companies slipping most

The Fed must return to trusted reserves policy, A policy of raising reserve requirements is a win-win for the Federal Reserve, banks and the economy – and satisfies many of the Basel III provisions

Europe's property market, Europe's CMBS pipeline begins to flow, The market for assets backed by commercial mortgages is still only a fraction of its 2006 peak as stresses remain in the property market

From Sidney economic news, Australia to use market prices for Libor, Financial markets panel setting Australia's bank bill swap rate to be disbanded in favour of extracting rates directly from trading venues

Eurozone solidarity has hurt, Cyprus contagion fears hurt euro, Single currency falls against dollar, sterling and yen as debate over whether future banking bailouts should move burden away from taxpayer continues

Meanwhile, Pru falls to bottom of FTSE after fine, Analysts react warmly to Tui's strong trading over winter, but Pru falls as the insurer is fined over ill-fated takeover attempt on AIA in 2010

Horrayy finally Philippines wins investment-grade rating, Fitch highlights resilient growth, improvements in fiscal management and successful efforts from the central bank in controlling inflation

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