| TED spread | 2.23 |
| S&P 500 returns | +4.08% |
| VIX | 47.73 |
| Nikkei 225 (11:10 AM IST) | +3.56% |
| US Financials index | +5.17% |
| ICICI Bank ADR | +7.28% |
| Call rate on 4th | 7.43 |
| Currency futures (11:10 AM IST) | 47.05 |
- I wrote an article Will the money market go into Crisis #3? in Financial Express today.
- Ila Patnaik in Indian Express on monetary policy.
- Gautam Chikermane on mindless bailouts.
- See this editorial in Financial Express and this one in Indian Express.
- Christopher Cox on reforming the US SEC. When they merge the US SEC and the US CFTC, I hope the merged entity looks more like today's CFTC and less like today's SEC.
- Stephen Schwarzman of Blackstone Group, in Wall Street Journal on key principles that financial sector reform must emphasise.
- The economic slowdown in China, by Ariana Eunjung Cha in Washington Post. The Shanghai Composite index has yielded nominal returns of 0% over the last 8.7 years. Things worked out slightly better in India. 8.7 years ago, Nifty was at 1722, which yields average annual returns of 7.15% over that period.
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