A surge in financial shares lifted Wall Street on Tuesday after the U.S. Treasury secretary said American banks have enough capital, while the euro gained against the dollar on a jump in German investor confidence.
Market sentiment turned in the morning, with U.S. government debt prices paring gains to turn negative and crude oil reversing early losses to trade back above $46 a barrel as traders awaited more data shedding light on demand.
U.S. investors shrugged off a report from the International Monetary Fund that said global write-downs of toxic debt held by banks and other financial institutions in the United States, Europe and Japan could reach $4.1 trillion. For details please see
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Wall St gains on banking surge, euro rises > MONEY MARKETS-US T-bill rates rise, risk spreads grow > EMERGING MARKETS-Mixed markets keep eye on global banking > COMMODITIES-Markets recover after US bank assurances
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Most US banks have enough capital - US's Geithner > Global writedowns may reach $4.1 trln - IMF > Bank NY, State Street, Northern Trust all see profit falls > US regional banks hit hard by recession, bad loans > BlackRock Q1 profit falls 65 pct > US manufacturer earnings pressured by weak demand > Global sentiment surveys show investors hoping worst is over > Bank of Canada cuts rates, to unveil new strategy > Bank of England sees signs of recovery, UK inflation eases > German investor morale rises to near 2-year high > ECB signals rate cut cycle end in sight, data adds hope > Sweden cuts rates to new low, more measures possible > India central bank cuts interest rates, pushes banks to lend > Global steel output tumbles but worst could be over
ANALYSIS RELATED TO GLOBAL ECONOMIC CRISIS > Bonds show US bank winner and losers parting ways > Emerging market stocks find decoupling hard to do > Too soon to say world economy in the clear > Global economic recovery: slow training coming > 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
FACTBOXES > World government actions to limit bank bad loan damage > Major US financial regulation reform initiatives > Is the global financial crisis over - > Where has all the US bailout money gone - > 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.
Market sentiment turned in the morning, with U.S. government debt prices paring gains to turn negative and crude oil reversing early losses to trade back above $46 a barrel as traders awaited more data shedding light on demand.
U.S. investors shrugged off a report from the International Monetary Fund that said global write-downs of toxic debt held by banks and other financial institutions in the United States, Europe and Japan could reach $4.1 trillion. For details please see
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Wall St gains on banking surge, euro rises > MONEY MARKETS-US T-bill rates rise, risk spreads grow > EMERGING MARKETS-Mixed markets keep eye on global banking > COMMODITIES-Markets recover after US bank assurances
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Most US banks have enough capital - US's Geithner > Global writedowns may reach $4.1 trln - IMF > Bank NY, State Street, Northern Trust all see profit falls > US regional banks hit hard by recession, bad loans > BlackRock Q1 profit falls 65 pct > US manufacturer earnings pressured by weak demand > Global sentiment surveys show investors hoping worst is over > Bank of Canada cuts rates, to unveil new strategy > Bank of England sees signs of recovery, UK inflation eases > German investor morale rises to near 2-year high > ECB signals rate cut cycle end in sight, data adds hope > Sweden cuts rates to new low, more measures possible > India central bank cuts interest rates, pushes banks to lend > Global steel output tumbles but worst could be over
ANALYSIS RELATED TO GLOBAL ECONOMIC CRISIS > Bonds show US bank winner and losers parting ways > Emerging market stocks find decoupling hard to do > Too soon to say world economy in the clear > Global economic recovery: slow training coming > 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
FACTBOXES > World government actions to limit bank bad loan damage > Major US financial regulation reform initiatives > Is the global financial crisis over - > Where has all the US bailout money gone - > 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.