Overnight:
Aug. 9 (Bloomberg) -- BNP Paribas SA, France's biggest bank, halted withdrawals from three investment funds because it can't ``fairly'' value their holdings, as concern over U.S. subprime mortgage losses roils credit markets.
Futures take a hit. This explains the selling earlier today as this must have leaked out. ES resistance will be 1494.50 after we drop. YM support is at 13575/95. Awaiting jobless claims at 8:30.
Update:
Aug. 9 (Bloomberg) -- The European Central Bank said it will provide unlimited funds today at 4 percent after demand for cash in the European money markets drove interest rates higher.
In a statement today, the ECB said it was providing emergency funds ``to assure orderly conditions in the euro money market'' and that it ``intends to allot 100 percent of the bids it receives.''
The "unseen" hand?
Aug. 9 (Bloomberg) -- BNP Paribas SA, France's biggest bank, halted withdrawals from three investment funds because it can't ``fairly'' value their holdings, as concern over U.S. subprime mortgage losses roils credit markets.
Futures take a hit. This explains the selling earlier today as this must have leaked out. ES resistance will be 1494.50 after we drop. YM support is at 13575/95. Awaiting jobless claims at 8:30.
Update:
Aug. 9 (Bloomberg) -- The European Central Bank said it will provide unlimited funds today at 4 percent after demand for cash in the European money markets drove interest rates higher.
In a statement today, the ECB said it was providing emergency funds ``to assure orderly conditions in the euro money market'' and that it ``intends to allot 100 percent of the bids it receives.''
The "unseen" hand?
This entry was posted
on Thursday, August 09, 2007 at 8/09/2007 04:02:00 AM.
You can skip to the end and leave a response.
» Post a Comment