Here we go again.

1. Probable cause for yesterday’s swoon attributed to a 3:15 Fitch announcement that US banks would be affected by their exposure to Italian, French and Spanish debt. Surprise, surprise. Did markets really need a rating agency to tell them that? And there is an auction somewhere in Euroland. Chances are that bank stocks will pop if it goes well.  But one needs a real-time news tweet  alerts.

2. Angie’s list and Delphi do IPOs before the window shuts down.

3. It should be criminal that the CME cannot sort out the MF Global mess as far as customer accounts are concerned.

4. Is GLD positively or negatively correlated with stock prices? Perhaps the Italians are planning to/are selling their gold.  GLD is down 1% this morning as I type.  What kind of safe haven is this if it drops along with equity prices?

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