Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

The US economy grew at an annual pace of 2.2pc in the third quarter as the recovery got off to a slower-than-expected start.
US recovery proves slower than expected

Fitch Ratings has given its bluntest warning to date that Britain and France risk losing their AAA status unless they map out a clear path to budget discipline over the next year.
Fitch warns that Britain and France risk losing their AAA rating

The contraction of bank lending and the M3 money supply in the US and Europe over recent months has become a serious concern and raises the risk of a slide back into recession, according to one of Britain's most celebrated economists.
Charles Goodhart warns of return to recession as bank lending falls

We have been talking in our research about the risks for banks as holders of synthetic corporate CDOs since early September. This is a $1.6 trillion market, with very little clarity on which banks hold such instruments. Until recently, it has been a dog which hasnt barked. However, the credit events at several US financials are now filtering through into rating agency downgrades of CDO tranches. The credit events at the Icelandic banks will also provide further downgrades. We think we will be hearing more bad news on exposures to synthetic corporate CDOs in the coming weeks.
More bad news on bank CDO exposures to come, BofAML says

Equities have performed feebly in the past decade compared with gilts, gold, property - or even a building society account.
Naught but trouble for investors in Noughties

In a piece of research that involved 14 of its senior analysts from across five leading financial centres scrutinising data from 32 leading indices over several decades, Macquarie Securities has arrived at a startling discovery: the two days on either side of the new lunar month represent most of the positive returns on equity markets for the next four weeks.
Market chaos - it's down to the lunatic fringe

A billion-dollar bet on Britain's state-supported Lloyds and RBS banking groups has helped a US hedge fund manager secure a personal payday of $2.5bn (1.55bn), the Guardian has learned.
Massive bet on RBS and Lloyds helped financier earn $2.5bn

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

SENSEX

Japan is closed today.

Good morning traders!

In the US last night, the Dow added 51 points at 10,465, the Nasdaq rose 15 points
at 2,253 and the S&P500 closed up 4 points at 1,118.

In Asia today, the Hang Seng ended the morning off 10.21 points at 21,081.83.

Crude oil traded at $74.31 a barrel on Nymex.

Gold settled at $1,084 an ounce.

Happy trading!

G.

End-of-day Market Overview