20120724-060044.jpgGood morning

Some observations before I start:

  1. If you want to receive blog posts via email, you can sign up on the right (your right) of the webpage.
  2. Subscribing does not require a password, an account, or proof that you’re not a robot by trying to decipher any impossible word-art pictures.
  3. The fishing was awesome.
  4. Photos of said fishing expedition are being posted through my twitter feed – so if you want to have a look (you should – there are elephants, some sunsets, and a fish eagle), follow me there.
  5. Right. I’m done. Now news.

The headlines:

  1. Spain and Italy ban short-selling.

    Link: those naughty speculators.

    The speculation on bank stocks… It sounds like a familiarly French story.

    Spain have banned it for three months. Italy have done it for a week.

    For a brief summary of short-selling: see here.

    There’s talk that it won’t work because the collapse in the share price is people genuinely selling off – not hedge funds temporarily speculating…

  2. Germany gets a negative rating outlook.

    Link: that just happened.

    The Ratings Agencies are now concerned that Germany (and the Netherlands) will end up backing the rest of Europe. Hence the “we’re feeling a bit negative about your AAA rating staying AAA”.

    Not that the Ratings Agencies are particularly relevant. But they’ve been on Germany’s side for a while – it’s just interesting to watch the shift.

  3. Hong Kong trading suspended.

    Link: bad weather.

    Ah typhoons. A not-so-gentle reminder that despite the financial world’s self-obsession – natural disasters can bring it to a halt far more abruptly than Greece.

  4. China’s shadow banking system.

    Link: it lives online.

    I just thought that this was really interesting. Micro-finance sounds like a giant admin headache to me. But where there’s demand, there’s supply. From lots of people collectively to other lots of people collectively. At really high rates of interest.

    Truly: the People’s bank.

    And despite the warnings about not-paying-back – I think that there’s something culturally worse about you’re not paying back a person versus not paying back a bank…

That’s all for now.

Have a good day.