Top U.S. officials on Saturday offered reassurances that the worst of the
economic downturn is likely over, helped by unprecedented efforts to keep
credit flowing, though the recovery will be slow.
Two Federal Reserve policy-makers, Vice Chairman Donald Kohn and New York Fed chief William Dudley, both pointed to signs that measures taken by the U.S. central bank are indeed working to help revive the economy.
And Paul Volcker, a senior economic adviser to the Obama administration and a former Fed chairman himself, said the rate of the economy's decline is set to slow.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Global stocks rally on results, oil above $50 > MONEY MARKETS-Euro Libor/OIS spreads lowest in a year > EMERGING MARKETS-Latam stocks drop after 6th winning week > COMMODITIES-Oil, copper post gains with equities
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Top US officials suggest worst of recession is over > China says key currency countries need watching > Citibank posts smaller loss, shares surge > GE profit drops on finance but NBC tops forecasts > US consumer sentiment highest since Sept 2008 > Fed's Bernanke says credit downturn to do lasting harm > Fed names Brian Sack to lead New York Fed's markets group > US banks, lawmakers narrow cramdown terms - sources > Mexico cuts interest rates 73 bps to 6.0 percent > Eurozone Feb exports, import plunge; drag on Q1 GDP > Germany says economy likely hit by record slump in Q1 > Russia's Gazprom sells 10 bln rouble bond > BOJ governor warns on weak economy, credit strains
ANALYSIS RELATED TO GLOBAL ECONOMIC CRISIS > Can Citigroup's results be sustained - > With downturn easing Federal Reserve not eyeing new programs > Money market muddles along as worst has passed > Rich G7 can't go it alone to calm economic storm > Smatterings of a US rebound emerge slowly > Build America Bonds poised to realize promise > Indian retail sector reboots as slowdown pinches > General Growth bankruptcy brings more bad news for US banks > US call for global rebalancing not aimed at dollar > Trying to defuse the US bank stress test bomb > Fed may need to be more open to appease Congress > Investors to look beyond bad European Q1 earnings > China Inc to feel Q1 pain then recover
FACTBOXES > Where has all the US bailout money gone - > Largest US bankruptcies > US banks line up to repay TARP money > US faces potential $10.9 trln economic rescue bill > What is the $1 trillion in new G20 financing - > G20 summit final communique > Key Obama financial regulation proposals > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > IMF emergency loan programmes in past six months > Federal Reserve statement after March 17-18 meeting > Bank of Japan on subordinated loans to banks > Central banks turn to new measures to help economies
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.
Two Federal Reserve policy-makers, Vice Chairman Donald Kohn and New York Fed chief William Dudley, both pointed to signs that measures taken by the U.S. central bank are indeed working to help revive the economy.
And Paul Volcker, a senior economic adviser to the Obama administration and a former Fed chairman himself, said the rate of the economy's decline is set to slow.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Global stocks rally on results, oil above $50 > MONEY MARKETS-Euro Libor/OIS spreads lowest in a year > EMERGING MARKETS-Latam stocks drop after 6th winning week > COMMODITIES-Oil, copper post gains with equities
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Top US officials suggest worst of recession is over > China says key currency countries need watching > Citibank posts smaller loss, shares surge > GE profit drops on finance but NBC tops forecasts > US consumer sentiment highest since Sept 2008 > Fed's Bernanke says credit downturn to do lasting harm > Fed names Brian Sack to lead New York Fed's markets group > US banks, lawmakers narrow cramdown terms - sources > Mexico cuts interest rates 73 bps to 6.0 percent > Eurozone Feb exports, import plunge; drag on Q1 GDP > Germany says economy likely hit by record slump in Q1 > Russia's Gazprom sells 10 bln rouble bond > BOJ governor warns on weak economy, credit strains
ANALYSIS RELATED TO GLOBAL ECONOMIC CRISIS > Can Citigroup's results be sustained - > With downturn easing Federal Reserve not eyeing new programs > Money market muddles along as worst has passed > Rich G7 can't go it alone to calm economic storm > Smatterings of a US rebound emerge slowly > Build America Bonds poised to realize promise > Indian retail sector reboots as slowdown pinches > General Growth bankruptcy brings more bad news for US banks > US call for global rebalancing not aimed at dollar > Trying to defuse the US bank stress test bomb > Fed may need to be more open to appease Congress > Investors to look beyond bad European Q1 earnings > China Inc to feel Q1 pain then recover
FACTBOXES > Where has all the US bailout money gone - > Largest US bankruptcies > US banks line up to repay TARP money > US faces potential $10.9 trln economic rescue bill > What is the $1 trillion in new G20 financing - > G20 summit final communique > Key Obama financial regulation proposals > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > IMF emergency loan programmes in past six months > Federal Reserve statement after March 17-18 meeting > Bank of Japan on subordinated loans to banks > Central banks turn to new measures to help economies
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.