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Daily Dispatches

Banks issue record amount of dollar debt to backstop commercial paper

Section: Daily Dispatches

By David Oakley and Michael MacKenzie
Financial Times, London
Wednesday, September 5, 2007

http://www.ft.com/cms/s/0/147bd4a4-5be0-11dc-bc97-0000779fd2ac.html

Banks are issuing record amounts of dollar-denominated debt as they fear more demands for cash from troubled structured investment vehicles, according to the latest figures.

Foreign holdings of Treasuries fall sharply -- Is China dumping them?

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, September 5, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/05/bcnchi...

A sharp drop in foreign holdings of US Treasury bonds over the last five weeks has raised concerns that China is quietly withdrawing its funds from the United States, leaving the dollar increasingly vulnerable.

Developed nations' group urges U.S. interest rate cut

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, September 6, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/06/cnoecd...

The OECD club of rich nations has called on the US Federal Reserve to cut interest rates to stave off a credit crunch, warning that the sub-prime crisis could trigger a serious global downturn.

Two more bidders for Meridian by Friday, securities commission told

Section: Daily Dispatches

By Canadian Press
Wednesday, September 5, 2007

http://canadianpress.google.com/article/ALeqM5gjYDVNjyuHBeJfE4G33Xc2xRGZyQ

TORONTO -- Meridian Gold Inc. will lose the protection of its poison pill plan on Sept. 11, an OSC panel ruled Wednesday, handing a procedural victory to Yamana Gold Inc.

ECB pledges more liquidity boosting if needed

Section: Daily Dispatches

By Ralph Atkins
Financial Times, London
Wednesday, September 5, 2007

http://www.ft.com/cms/s/0/370f2db0-5bb6-11dc-bc97-0000779fd2ac.html

FRANKFURT, Germany -- The European Central Bank announced on Wednesday that it is ready to intervene again to relieve tension in financial markets, the day before its governing council meets to discuss interest rate policy.

Commercial paper risks are lurking behind Citigroup

Section: Daily Dispatches

Conduit Risks
Are Hovering
Over Citigroup

If the Vehicles Go Sour,
Rescues Could Be Costly;
Bank Has 'No Concerns'

By David Reilly, Carrick Mollenkamp,
and Robin Sidel
The Wall Street Journal
Wednesday, September 5, 2007

http://online.wsj.com/article/SB118895110892617533.html?mod=yahoo_hs&ru=...

No inflation? Rivals quickly match Southwest air fare hike

Section: Daily Dispatches

Airline Rivals Match
Southwest Fare Hike

By Matt Curry
Associated Press
via Yahoo News
Tuesday, September 4, 2007

http://news.yahoo.com/s/ap/20070905/ap_on_bi_ge/airline_fares;_ylt=ArYtZ...

London banks hoard cash as liquidity crunch worsens

Section: Daily Dispatches

Sense of Growing Crisis over Interbank Deals

By Gillian Tett
Financial Times, London
Tuesday, September 4, 2007

http://www.ft.com/cms/s/0/d7a4be24-5b1c-11dc-8c32-0000779fd2ac.html

As bankers have returned to their desks this week after the summer break, they have been searching frantically for signs that the markets are gaining a semblance of calm after the August turmoil.

Liquidity crisis grows as Libor rates gap hits 20-year high

Section: Daily Dispatches

By Philip Aldrick
The Telegraph, London
Wednesday, September 5, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/05/cnlibo...

Pressure is mounting on the Bank of England to intervene in the credit crisis after money-market lending rates jumped to a 20-year record and economists warned that central banks have "not properly recognised the dangers" ahead.

Letting euro appreciate risks deflation, Nobel laureate Mundell warns

Section: Daily Dispatches

By Steven C. Johnson and Kevin Plumberg
Reuters
Tuesday, September 4, 2007

http://www.reuters.com/article/marketsNews/idUKN0443888520070905?rpc=44&...

NEW YORK -- The euro's steady appreciation against the dollar in the last several years threatens to devastate the European economy by tipping it into deflation, Nobel Prize laureate Robert Mundell said on Tuesday.

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