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Must-Know News – Feb. 08, 2011


by Saxplayer00o1, ZH

Japan rating agency warns of fund exodus-UPDATE 1-INTERVIEW

Ireland ‘may need further EU help’

Wis. gov puts budget shortfall at $3.6 billion

Budget Deficit Totaled $53 Billion in January

CalSTRS set to lose nearly $73 million

The State Worker: State worker retirements jumped 23 percent in 2010 (California)

Moody’s lowers Jordan rating over regional unrest

Report: NJ pension crisis only to get worse

Danish Banks Face Consolidation Wave After Bondholder Losses

China Raises Key Interest Rates to Counter Inflation

Rich Take From Poor as U.S. Subsidy Law Funds Luxury Hotels

Chinese Steel-Pipe Makers to Face 86% U.S. Dumping Duties After ITC Ruling

  • China Raises Key Interest Rates to Counter Inflation (Bloomberg)
  • Egypt approves 15-percent pay raise for government employees (Xinhua) which supposedly are 70% of all employees
  • Citigroup Settles Fraud Cases Tied to Texas Mortgage Assigner (Bloomberg)
  • Rival Koreas meet for talks as tensions ease (Reuters)
  • Misquoting Keynes (Hussman)
  • Osborne raises bank levy to £2.5bn (FT)
  • Rich Get Richer as Governments Tout Austerity (Bloomberg)
  • Sara Lee profit misses, blames higher commodity costs, but company backs ’11 outlook (Reuters)
  • Cash Buyers Lift Housing  (WSJ)
  • Regulators seek to foil moves to undermine pay reform (Reuters)
  • ECB Will Act Strongly Against Second-Round Effects, Mersch Says (Bloomberg)
  • Report Urges G-20 Overhaul (WSJ)
  • Protesters call for push to eject Mubarak (FT)
  • Brussels stands by wider EFSF scope (FT)
  • Get Ready for Rising Rates, Falling Bonds  (Barrons)

European Economic Highlights:

  • UK RICS House Price Balance -31.0% – higher than expected.Consensus -38.0%. Previous -39.0%.
  • Switzerland Unemployment Rate for January 3.8% – in line with expectations.Consensus 3.8%. Previous 3.8%.
  • Switzerland Unemployment Rate (sa) for January 3.5% – in line with expectations.Consensus 3.5%. Previous 3.5%.
  • Bank of France Bus. Sentiment for January 110 – higher than expected.Consensus 108. Previous 107.
  • France Central Govt. Balance (Euros) for December -148.8B.Previous -140.7B.
  • France Trade Balance (Euros) for December -5.1B – lower than expected.Consensus -4.2B. Previous -4.1B.
  • Germany Industrial Prod. (nsa wda) for December 10.0% – lower than expected.Consensus 11.5%. Previous 11.1%.
  • Germany Industrial Prod. (sa) for December -1.5% m/m – lower than expected.Consensus 0.2% m/m Previous -0.6% m/m.
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