Bank of Japan has a bigger bazooka than the U.S.
We remember Treasury Secretary Paulson’s reference to having a bazooka in his pocket ,but really it’s the Bank of Japan who is packing the heat and planning on using it.
Banks
Ten reasons to be scared
My top ten reasons to be scared:
Will pressure continue to push the pound lower?
The GBP/USD basically remains flat after falling for 8 straight sessions pushing the British pound near 2 months lows as traders focus on talks surrounding the euro zone’s European Stability Mechanism fund attempts to bypass euro zone members’ governments and directly inject 500 billion euros into regional banks.
Brazilian bank sector: hope for the road ahead
Brazilian bank Itaú Unibanco (ITUB, quote) got rocked Tuesday after reporting disappointing third quarter results due to declining service fees and a drop in the net interest spread.
What exactly is a SELIC anyway?
SELIC (Sistema Especial de Liquidação e de Custódia) or the Special System for Settlement and Custody, is the Brazilian Central Bank’s vehicle for undertaking open market operations — much like the Federal Open Market Committee of the United States Federal Reserve.
