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Good morning. Here’s what you need to know:
- Asian markets rose overnight, with the Shanghai Composite up 2.88%. European indices are all higher and U.S. futures suggest a higher open. Check out the 10 unusual stocks attracting huge interest this morning >
- The rally in the real continues this morning, with silver, copper, gold, and oil all rising. The dollar is declining against most currencies. Check out SocGen’s guide to commodities in 2011 >
- Bond yields in the U.S. are surging as a result of increasing confidence about U.S. growth in 2011. The 10-year is now at 3.35%. Check out this walkthrough of an America that’s just one step away from a deflationary nightmare >
- Chinese inflation data was released over the weekend, with the CPI surging 5%. China is now strategising new tightening measures to combat this inflation, that may include limiting loans to $1.1 trillion. Here’s why China is actually just a debt burdened builder of bridges to nowhere >
- China and Norway’s Statoil have signed a contract to drill off the coast of Norway. The deal went through, even though China has been involved in a diplomatic spat with Norway after the Nobel Prize decision. Here are the 20 signs that China is cornering the global oil market >
- General Electric has purchased Wellstream for $1.3 billion. The deal with see GE expand its oil services holdings and its reach into emerging markets.
- Credit Suisse may be about to launch a $30 billion issuance of contingent-capital bonds in 2011. The aim is to use the issuance to raise capital ahead of changes associated with Basel III.
- The Great Atlantic and Pacific Tea (A&P) grocery company has filed for bankruptcy. A&P, which owns grocery brands like Super Fresh, has at least $1 billion in assets and could have more than $3.2 billion in debt.
- Bank of America has launched at $1 billion sale of mortgage assets. The sale includes toxic assets associated with the acquisitions of Countrywide and Merrill Lynch.
- It is now considered likely the Senate will pass the tax deal negotiated by President Obama today. Societe Generale have raised their GDP expectations for 2011 by a percentage point based on the belief the bill will pass. Check out Societe Generale’s biggest investment trends to watch in 2011 >
- Bonus: Elizabeth Hurley has announced her 3-month separation from husband Arun Nayar after being spotted with Australian cricketer Shane Warne.
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