11 Jan 2012: Europe’s pension threat grows

FTSE 100 5683 Down 24bp
S&P 500 1292 Up 89bp
NIFTY 50 India 4860 Up 24bp

Major Stories

  • Europe’s pension threat grows
    • Europe’s $39 trillion pension bomb continues to tick as economies sputter
    • Analysts have suggested older retiring ages and smaller pay packages as a solution
    • Europe has the largest proportion of over-60 people
    • In an attempt to open their market, China lowered import duties, which has led to an increasing demand for imported goods
  • Europe set to block DB-NYSE tie up
    • European competition officials have recommended blocking the tie up between Deutsche Boerse and NYSE
    • DB and NYSE are trying to create the world’s largest exchange, but European competition officials are set to lobby against it unless they sell their derivatives business
    • This move is with a view to protect smaller EU exchanges
  • German bond auctions achieve double the target
    • Germany got bids for 5-year bonds worth Euros 8.9 billion, more than twice of the target of Euros 4 billion
    • These 5-year notes have been sold at an average yield of 0.9%; they are set to mature in Feb 2017

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