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  • Article / 54 minutes ago

    3 Numbers: German outlook upbeat as consumer sentiment slide steadies

    editor/analyst /
    United States
    3 Numbers: German outlook upbeat as consumer sentiment slide steadies
    The macro outlook for Spain is in a holding patten, and today's third-quarter GDP revision will probably match the previous estimate of a moderate 0.8%. In the wider Eurozone, steady growth is expected for the M3 money supply in the October report; money supply numbers will stay front and centre until firmer pricing conditions return. Meanwhile there are hopeful signs that German consumer sentiment will stabilise after months of grinding lower.
    Read the article
  • Editor’s Picks / 2 hours ago

    Citigroup sued over billions in mortgage debt losses

    PIMCO and other investors have sued Citigroup over the bank's alleged failure to properly monitor toxic securities backed by more than $13.8 billion of mortgage loans, resulting in $2.3 billion of losses. Jonathan Stempel writes that according to a complaint filed Tuesday night in a New York state court in Manhattan, Citigroup breached its duties as trustee for the 25 private-label trusts dating from 2004 to 2007 by ignoring "pervasive and systemic deficiencies" in how the underlying loans were underwritten or being serviced. The investors said Citigroup looked askance at the loans' "abysmal performance" out of fear it might "jeopardise its close business relationships" with loan servicers or prompt them to retaliate over its own problem loans.
    Read article on Reuters
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  • Editor’s Picks / 6 hours ago

    Security-minded Beijing pushes for homegrown smartphones

    Business Spectator
    China is seeking to make its own secure smartphones, to insulate its handsets from US surveillance. The move follows Edward Snowden’s revelations about the US National Security Agency. The effort involves both state-owned companies and technology firms. The push to build homegrown secure handsets also has economic benefits: the components crucial to security are some of the most profitable. But even with made-in-China processors, modems and operating systems, Chinese secure phones will likely include plenty of foreign components. A spokesman for ZTE said it isn’t possible to use exclusively Chinese-made hardware and software in a smartphone, but it is trying to use domestic suppliers as much as possible.
    Read article on Business Spectator
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  • Calendar event / Yesterday at 15:00 GMT

    US New Residential Sales

    Med New Home Sales
    Med New Home Sales, M/M%
    Med New Home Sales Months Supply
  • Trade view / Yesterday at 14:56 GMT
    Strategic trade

    #SaxoStrats. UPDATE: Abengoa under a cloud

    Fixed Income trader / Saxo Bank
    Speculation about the future of Abengoa intensified in late September and today the company announced that it is seeking “preliminary creditor protection”. Its bonds are now trading without accrued interest and plunging to new lows, while its shares are currently trading down more than 50% after the suspension was lifted earlier today.
    Read the Trade View