Forex Outlook

The markets appear to be “stabilizing” for the time being after yesterday’s massive sell-off, the 6^th largest down move for stocks in the history of the markets.  Oil has pulled back as well, though gold is sky-rocketing to new daily highs, reaching just under $1780.

Forex Outlook

Well it looks like we dodged a bullet this morning with the US Non-Farm Payrolls report that showed jobs growth of 118K vs. an expectation of 85K.  The unemployment rate ticked lower to 9.1% even though all of the recent data was pointing to a lower number.

Japan may sell yen again

TOKYO - A Japanese Finance Ministry official said the government may sell yen again after last week's move if it sees speculative trades that drive the currency higher.

Recession 2011: Asia, Europe to stick it out with US debt after S&P cut

TOKYO/SINGAPORE: Asian states are likely to retain their US Treasury holdings for now and European governments expressed confidence in the world's largest economy after Standard & Poor's cut the US's sovereign credit rating to AA+.

Japan revives rice futures trade

: When the Tokyo Grain Exchange, operator of Japan’s largest agricultural bourse, bet its future on rice trading, it didn’t expect radiation fallout would be part of investor decisions and volatility.

Europe’s definitional crisis

Method And Manner | Haseeb A Drabu

These truly are unique times. More than the overhyped downgrade of the US, it is the first time in the global economic history that there are more countries than corporations that are perilously close to a default. In fact, even as countries are lunging from one crisis to another, most of the large global corporations are sitting on cash and have rock solid balance sheets. Sooner than later, corporations will have better credit rating than countries.