Global share prices fell and oil eased on Thursday after dismal economic
data indicated the depth of the recession, while Treasury bond prices eased
amid concerns about the U.S. government's growing debt needs.
The yen and dollar rose as news of U.S. and European economic weakness kept investors wary of risk even as governments pursued plans to boost growth. For more details, see
Oil dipped below $42 a barrel, pressured by the gloomy data, and gold turned sharply higher on the back of flight-to-quality buying.
Worries that President Barack Obama's $825 billion stimulus package could face a bumpy road in the Senate also weighed on sentiment after the U.S. House of Representatives passed it late Wednesday even though every Republican who voted opposed the measure.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Global stocks fall on economic data, gold up > MONEY MARKETS-Dollar funds cost ease > EMERGING MARKETS-Stocks, bonds weaken after more grim data > COMMODITIES-Mostly down in volatile markets, gold spikes
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Obama vows broad economic plan, solds Wall Street > US jobless claims jump to record, durable orders slide > US commercial paper outstanding sees record drop > US mortgage modifications rose to record in Dec > Ford posts record loss, draws $10 bln credit > French strike nationwide over economic crisis > German Jan jobless rate highest in about 4 years > Russian banks asks for government aid > Rouble showdown looms as Russia central bank intervenes again > Obama wins passage of economic stimulus in US House > Fed says ready to buy US debt to aid economy
ANALYSIS RELATED TO CREDIT CRISIS > Federal Reserve statement from Jan 27-28 meeting > Foreign banks face daunting task in Eastern Europe > Gold attracts more flows amid deepening recession > An $825 bln US economic stimulus may not buy healthy 2009 > Fed faces uphill battle to hold yields down > Foreclosures depressing US home prices > Japan may help US if China stops debt purchases > Protectionism the danger beyond new love for government aid > What the Fed is considering at its Wednesday meeting > US GDP growth data - omen of recovery or more misery
FACTBOXES: > US states face daunting budget gaps > What US law on currency manipulation says > US economic stimulus bill moves through Congress > US economic challenges facing Obama > Europe's fiscal stimulus plans to tackle economic crisis > The Fed's evolving liquidity toolkit > Fed statement on MBS purchase program > Where has all the US bailout money gone - > Global interest rates in 2008 > ECB statement on dollar liquidity > TEXT-Fed statement from Dec 15-16 meeting > US facing potential $8 trln financial rescue cost > US banks announce capital infusions
Keywords: CREDITCRISIS/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The yen and dollar rose as news of U.S. and European economic weakness kept investors wary of risk even as governments pursued plans to boost growth. For more details, see
Oil dipped below $42 a barrel, pressured by the gloomy data, and gold turned sharply higher on the back of flight-to-quality buying.
Worries that President Barack Obama's $825 billion stimulus package could face a bumpy road in the Senate also weighed on sentiment after the U.S. House of Representatives passed it late Wednesday even though every Republican who voted opposed the measure.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Global stocks fall on economic data, gold up > MONEY MARKETS-Dollar funds cost ease > EMERGING MARKETS-Stocks, bonds weaken after more grim data > COMMODITIES-Mostly down in volatile markets, gold spikes
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Obama vows broad economic plan, solds Wall Street > US jobless claims jump to record, durable orders slide > US commercial paper outstanding sees record drop > US mortgage modifications rose to record in Dec > Ford posts record loss, draws $10 bln credit > French strike nationwide over economic crisis > German Jan jobless rate highest in about 4 years > Russian banks asks for government aid > Rouble showdown looms as Russia central bank intervenes again > Obama wins passage of economic stimulus in US House > Fed says ready to buy US debt to aid economy
ANALYSIS RELATED TO CREDIT CRISIS > Federal Reserve statement from Jan 27-28 meeting > Foreign banks face daunting task in Eastern Europe > Gold attracts more flows amid deepening recession > An $825 bln US economic stimulus may not buy healthy 2009 > Fed faces uphill battle to hold yields down > Foreclosures depressing US home prices > Japan may help US if China stops debt purchases > Protectionism the danger beyond new love for government aid > What the Fed is considering at its Wednesday meeting > US GDP growth data - omen of recovery or more misery
FACTBOXES: > US states face daunting budget gaps > What US law on currency manipulation says > US economic stimulus bill moves through Congress > US economic challenges facing Obama > Europe's fiscal stimulus plans to tackle economic crisis > The Fed's evolving liquidity toolkit > Fed statement on MBS purchase program > Where has all the US bailout money gone - > Global interest rates in 2008 > ECB statement on dollar liquidity > TEXT-Fed statement from Dec 15-16 meeting > US facing potential $8 trln financial rescue cost > US banks announce capital infusions
Keywords: CREDITCRISIS/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.