It may be the holiday break, but in the rest of the world, business goes on. Here is a quick snapshot of some key news and data overnight.
Oxford Finance has had its credit rating downgraded from investment grade BBB-, to speculative grade BB. Apparently it is because its parent, lines company Electra, is considered weakened by having a finance company as a wholly owned subsidiary.
The SFO has launched a probe of the Bublitz-owned Mutual Finance after getting info from the receiver and Companies Office.
We are being loved-to-death by currency traders - we are at an all-time high against the pound, a three year high against the euro, and rising against the US dollar. Another commodity bubble is being blown.
Israel has discovered huge new gas resourses, making it a powerhouse energy supplier of the future.
The lucrative business of polluting - in two years the next stage of the ETS will come into effect and could be a system "massively abused".
There is a huge rush to issue covered bonds worldwide - in fact US$356 billion were issued in 2010, and that's without the US in the market.
|8 am||--- 52 week --|
|Crude oil||in US$/bl||89.34||91.29||91.45||70.15|
|US Treasuries||30 yr bond||4.41%||4.53%||4.78%||3.61%|
Have a safe and happy New Year's eve. We hope your 2011 is [even] better than your 2010.
See you next year, when we will be expanding our service progressively throughout the year, with the first major addition in February.