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Good morning. Here’s what you need to know:
- Asian markets were higher in overnight trading, with the Nikkei up a notable 1.81%. European markets are higher in morning trading, and U.S. futures suggest a higher open. Now see 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- The ADP employment report posted a disappointing 39,000 decline. Read analysis here >
- Gold continued its rise overnight, and now it looks set to cross $1346 an ounce and push towards $1350. Here’s a look at how precious metals have been exploding of late >
- The U.S. government is enlisting the support of the IMF in its mission to force China to revalue the yuan. The organisation is being asked to hold China accountable for its exchange rate peg and the imbalances it is causing. This is one of our 9 key themes for the rest of the year >
- Two Al-Qaeda linked attacks were launched in Yemen against French and British interests. One French citizen working for an oil company was killed and a British embassy convoy was attacked, with no fatalities. Here’s a guide to some other geopolitical threats facing the country >
- German manufacturing orders jumped 3.4%, month-over-month, seasonally adjusted on a pickup in demand from other eurozone countries. The increase in demand from countries outside the eurozone was weak.
- The Irish government’s plan to have Anglo Irish Bank subordinated debt holders take a hit could lead to the payout on CDS contracts by hedge funds and banks. For background on how Ireland got into this mess, see here >
- Costco saw a 16% increase in sales in its fiscal Q4. The company’s revenue increased to $24.13 billion for the fiscal year, up from $22.38 billion in the previous year.
- Mexico’s century bond offering was a success selling $1 billion of the security. It is the first Latin American bond with a 100 year maturity. Is this a sign of a bubble? See here for 10 other bubbles currently brewing >
- rumours of President Obama replacing Vice President Joe Biden with Secretary of State Hillary Clinton gained more steam last night as Bob Woodward suggested it was being seriously considered as a move prior to the 2012 election.
- Bonus: Giselle, married to Patriot’s QB Tom Brady, was seen kissing a New York art dealer at the Vogue 90th anniversary party. The model has denied there was anything to it, saying he was a long time friend.