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The Traders Thread - Tuesday 26th August (TRAD)     

Greystone - 24 Aug 2008 12:16

Greystone - 25 Aug 2008 21:14 - 5 of 29

Monday's US close saw the Dow Jones finish 241.81 points lower at 11,386.25, with
the S&P500 off 25.36 points at 1,266.84 and the Nasdaq Composite 41.92 points
weaker at 2,365.59.

G.

Greystone - 26 Aug 2008 05:47 - 6 of 29

Good morning traders!

In Asia today, the Hang Seng reached midway down 232.77 at 20,872.02, while
the Nikkei finished the morning session down 169.14 points at 12,709.52.

Crude oil for October delivery rose 37 cents to $115.48 a barrel.

Happy trading!

G.

Kyoto - 26 Aug 2008 06:35 - 7 of 29

Morning all. Market reports:

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

Saturday

Americans are about to be confronted with the dramatic reality of the US economic crisis and the nation's obsession with debt, in a new film featuring veteran investor Warren Buffett called I.O.U.S.A released today.
I.O.U.S.A to confront Americans with their debt obsession

Billionaire investor Warren Buffett declared that the "game is over" for Fannie Mae and Freddie Mac, as shares in the American mortgage finance houses came under renewed pressure.
Fannie Mae and Freddie Mac game over

America's leading central banker believes US inflation will "moderate this year and next" as a result of the recent fall in the price of oil and the rise of the dollar. Ben Bernanke, chairman of the US Federal Reserve, admitted that although the inflation outlook remains somewhat unstable, stable commodity prices couple with slower global growth will eventually soften price pressures for American consumers.
Ben Bernanke buoys markets with forecast of lower inflation

The longest period of economic growth since the industrial revolution is over, official figures disclosed on Friday.
Britain's economic growth shudders to a halt

Leading law firms representing HSBC and Hermitage Capital Management have been raided by Russian Interior Ministry officials in an attempt to link senior lawyers with an alleged tax fraud.
Hermitage and HSBC's law firms raided in Moscow

Sunday

The Government will be forced to sell an unprecedented 2bn of gilts every week next year in the latest sign that borrowing is spiralling out of control, experts have warned.
Government's 100bn gilts sale will underline borrowing fears

The Bank of England will move only slowly to cut interest rates, in spite of new official figures showing that Britains economy has ground to a halt. Weak figures could still pave the way for a rate cut later this year, with some analysts pencilling in a reduction in November
No rate cuts likely before end of year

It's August. Nothing is meant to happen. Global markets are supposed to be asleep. If only that were true. Last week attention focused, or refocused, on the world economy's much weaker growth prospects. The catalyst was alarming new evidence that the credit squeeze, far from abating, is tightening its vice-like grip.
World must brace itself as the US banking sector 'fesses up' to losses

COMMERZBANK is in the final stages of agreeing a complex 9 billion (7 billion) takeover offer for its German rival Dresdner Bank. A meeting of Commerzbanks 21-strong supervisory board is scheduled for this week, with expectations mounting that the deal could be announced soon after.
Banks near to 9bn tie-up

Lehmans battered shares sparked into life on Friday amid claims that the state-run Korea Development Bank is considering a bid. Meanwhile, the bank is still lumbered with more than $75 billion of leveraged loans, unloved mortgage assets and commercial-property investments it is desperately trying to shunt off its balance sheet.
Crunch time at Lehman

During the property boom it was seen as a sure-fire way to make a profit, but landlords are now on a downward spiral and nobody is sure when the yields will return.
Has Britain's buy-to-let market been rent asunder?

Malcolm Hurlston, chairman of the Consumer Credit Counselling Service (CCCS), has spotted an uncomfortable trend. "This half-year we've seen a substantial and sudden uplift in demand for advice on unsecured debt problems," he said. "In the past six weeks it has got even worse. We reckon there's been an increase in calls of about 25 per cent."
The next credit crisis timebomb could be the credit cards you carry

Monday

The world economy has a "long way to go" before it recovers from the worst crisis since the 1970s, the deputy governor of the Bank of England has warned. Charles Bean said that there is little prospect of an economic recovery until well into next year, meaning households' income will remain under severe pressure for months to come.
Economic recovery still a long way off, Bank of England chief warns

The recent fall in oil prices and mortgage rates has failed to allay consumer fears that the cost of living will continue to spiral in the UK, according to a survey by Lloyds TSB. Inflation expectations rose for a tenth consecutive month on the latest Lloyds TSB Corporate Markets Consumer Barometer, as falling petrol prices at supermarket pumps failed to comfort the public.
Consumers expect higher inflation

Families are 2,500 worse off than they were last year as rising food, fuel, energy and tax bills have dragged disposable incomes to the lowest level since Labour came to power in 1997, a new survey suggests. The average family has 1,210 a month to spend after covering essential bills, down from 1,425 last year. This is the first time households have seen their disposable income fall in more than a decade.
UK disposable income is at its lowest level for 11 years

Tuesday

The big worry has shifted from the R-word to the D-words: depression and deflation. Both are a real - if remote - possibility, and much depends on the response of both the Treasury and the Bank of England if the UK is to avoid them. It may even be in their power to prevent this from turning into a deep 1990s-style recession instead of the preferable shallow dip in performance.
UK seems set for a recession and must hope to avoid a depression

Kyoto - 26 Aug 2008 06:39 - 8 of 29

NIKKEI 225AUSTRALIA ASX200SHANGHAIHANG SENG
t?s=%5EN225t?s=%5EAXJOt?s=000001.SSt?s=%5EHSI

Kyoto - 26 Aug 2008 07:04 - 11 of 29

Kyoto - 26 Aug 2008 09:44 - 21 of 29

Asian stock market summary

Greystone - 26 Aug 2008 12:25 - 23 of 29

Midday Market Overview

Kyoto - 26 Aug 2008 12:51 - 24 of 29

Precious Metals Summary - London AM Fixings
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