Good morning. Here’s what you need to know:
- Japanese stocks exploded higher, over 2%, following a sudden intervention against the strengthening yen. Against the dollar the exchange rate spiked from 85.40 yen to 82.87 yen. Also, get ahead of the market with 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- The rest of Asia was mixed, with the Shanghai down 1.3%. European markets are down in early trading, and US futures point to a slightly lower open. Follow the action at Money Game >
- Industrial production data missed expectations. Read more analysis here >
- A massive Swiss Franc intervention could be next, Morgan Stanley predicts. Along with the yen, these two “safety currencies” have moved to record highs recently.
- IRA terrorists are planning a series of attacks aimed at London bankers. Targeting bankers may be popular in Ireland, as people suffer unemployment and government austerity. Here’s the story behind the Irish bank crisis >
- France has officially banned the burka. Muslim terrorists already responded with threats, and may have had something to do with yesterday’s bomb scare at the Eiffel Tower.
- PIMCO made a $8.1 billion bet against a ‘lost decade’ of deflation in the US. The mega-mutual fund bought long-term derivatives contracts tied to the consumer price index. See why Fed Governor James Bullard says deflation in coming >
- Tea Party candidate Christine O’Donnell scored an upset in Delaware, winning the GOP nomination for senate over Mike Castle. She is notorious for campaigning against sex and not paying her bills on time. Take our politician yearbook photo quiz >
- Coalition troops launched a major push into southern Afghanistan, heading toward the Taliban-stronghold of Kanhdahar. The operation, which involves three US battalions, is one of the biggest troop movements of the year.
- Hurricane Igor, the strongest of the season, threatens Bermuda today with Category 4 winds. Chances of the storm hitting America are low. See the most expensive hurricanes ever >
- Bonus: Former Spice Girl Mel B. just got sued by an investor in her upcoming TV show, who claims a cut of profits from her nearly nude appearance in “Peep Show” at Planet Hollywood.
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