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This is Money
The Federal Reserve on Wednesday stunned investors with a plan to buy $300bn of US government debt, triggering a plunge in bond yields and the dollar.
Fed plan stuns investors
The US Federal Reserve is to embark on quantitative easing by buying up longer-term Treasuries for the first time as part of a $1.15 trillion (808bn) spending spree with the aim of reviving the American economy out of recession.
US Federal Reserve plans $1.15 trillion injection
Gold futures staged an about-face to move higher in thinly traded after-hours screen trading after the Feds new plan to buy $300bn of government debt pressured the dollar and rekindled longer-term inflation concerns.
Gold surges on Fed move
European credit continued to lose ground as another round of grim economic data reminded investors that all bear markets have rallies. The Markit iTraxx Europe index was around 2bp wider at 191bp, while the Markit iTraxx Crossover index underperformed at 1134bp, 32bp wider than yesterdays close.
CDS update: Bear markets rally, too
Morgan Stanleys currency expert and emerging markets strategist Stephen Jen has been quick to leap on the significance of the push to give the IMF extra funds to channel to Eastern Europe.
A game-changer for the euro - and a coming CHF bloc
Lord Turner on Wednesday unveiled plans to end the era of light-regulation of London's financial services industry to ensure the financial crisis was not repeated.
Lord Turner's key recommendations on banking regulation
Parts of the City breathed a sigh of relief on Wednesday as the threatened crackdown by the Financial Services Authority (FSA) appeared less draconian than their worst fears.
Financial Services Authority 'crackdown' greeted with City relief
World oil production is reckoned to have peaked in 2008 at 81.73m barrels/day - oil here being defined as crude oil, lease condensate, oil sands and natural gas plant liquids.
Have we already seen peak oil?
The chairmen and CEOs of the UK banks have bought just 1,500 worth of shares in the banks for which they work in the six months since the collapse of Lehman Brothers, says DigitalLook.com, the private investors website.
Bank chief executives have bought just 1,500 worth of bank shares since September