Euro Predicted to Underperform – More Rate Cuts Likely
Just one day after the European Central Bank reduced interest rates to boost the eurozone economy, a Morgan Stanley analyst referred to the euro as “toast”.
“The yen will continue to be the outperformer in the environment of abrupt market swings and looming uncertainty about the global outlook,” analyst Yilin Nie noted in a recent client report. “The negative parade of news from the eurozone has been relentless,” the note added. More
U.S. Senate Votes to Release Remaining $350 Billion Rescue Fund
The U.S. Senate has voted to approve President-elect Barack Obama’s request to release the second half of the $700 billion bail-out fund. More
Madoff’s Investment Fund May Not Have Made Any Trades
A review of accused fraudster Bernie Madoff’s investment fund shows that it may not have executed a single trade. The report goes on to say that statements mailed monthly to investors may have been entirely fabricated. More
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