Daily FNArena News

Weekly musings by your editor. Don’t think all that is happening in the US financial sector was impossible to predict. Don’t think it will all be over anytime soon either. And don’t be surprised if the next big event won’t be in the US at all.

The Western world has turned to adding omega-3 to everything from milk to baked beans because we just won’t eat fish.

The growth rate in the Westpac-Melbourne Institute Leading Index slowed further in May, suggesting a further slowing in the Australian economy in coming months.

Standard Chartered suggests the US dollar has been oversold on financial sector concerns and with the US ahead of other regions in terms of policy initiatives the currency may soon strengthen.

ANZ Bank suggests the Aussie dollar will move beyond parity against the US dollar in coming months but doesn’t see the strength as last much into 2009.

The July RBA minutes confirm a dovish tone anyway, and a lot has happened in a couple of weeks.

As Toll makes the ultimate capitulation on its Virgin stake, analysts contemplate the pluses and minuses for both companies.

The market sees the British Pound at much lower levels against the US dollar in the year ahead and SVB’s Joe O’Leary couldn’t agree more.

According to Macquarie central banks are likely to lift interest rates modestly to control inflation but such a move would likely further pressure equity markets.

As the US government steps in to save its two sponsored mortgage lenders, one may wonder just exactly what Fannie Mae and Freddie Mac are and why they are so important.