Here is what you need to know.
US Markets are back from Christmas break. Markets are set to open little changed with the Dow Jones Industrial Average hovering near 19,935. Meanwhile, the US 10-year yield is higer by 2 basis points at 2.56%.
China is home to the world’s hottest housing market. Home prices in Nanjing, China are up 42.9% year-over-year in the third quarter, making it the world’s hottest housing market, according to data from property consultancy and estate agency Knight Frank.
Consumer prices fell in Tokyo. Prices slumped 0.6% year-over-year, making for the biggest drop since February 2013. The Japanese yen is weaker by 0.2% at 117.31 per dollar.
A Harvard graduate has been named as a vice governor at the PBoC. Yin Yong, who holds a masters degree in public administration from Harvard University, was named vice governor at the People’s Bank of China.
Bitcoin is charging higher. The cryptocurrency is higher by 1.6% at $912, and is trading at its best level in three years.
Monte Paschi needs cash. The debt-ridden Italian bank needs 8.8 billion euros ($9.2 billion) to strengthen its balance sheet, Reuters reports, citing two sources close to the matter.
Toshiba might take a huge writedown on its nuclear acquisition. Toshbia might need to take several billion dollars worth of losses related to its acquisition of Chicago Bridge & Iron, which Westinghouse says owes it more than $2 billion, Reuters reports.
Tepco is considering a bond sale. Tokyo Electric Power Company is considering its first bond offering since its 2011 nuclear disaster, Reuters reports, citing people familiar with the plans.
Stock markets around the world are quiet. China’s Shanghai Composite (-0.2%) slipped in overnight trade and Germany’s DAX (+0.2%) leads in Europe. Markets remained closed in Australia, Hong Kong, and the UK.
US economic data flows. Case-Schiller home prices will be released at 9 a.m. ET and consumer confidence will cross the wire at 10 a.m. ET.
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