Daily FNArena News

Is Commander Communications toast?

On JP Morgan’s analysis, recent issues of mortgage backed securities from small banks and non-banks have been at a loss, indicating the market is still in serious trouble.

The stronger Australian dollar is playing havoc with the earnings of Iluka Resources, with brokers slashing estimates and advising risk remains to the downside.

Stock markets again closed little changed last night as poor employment data sent the US dollar south.

The IMF has downgraded its forecast for 2008 global GDP growth, but not by much.

According to the Commonwealth Bank housing prices provide a good indicator for interest rate movements as increases mean increased wealth, which spurs consumer spending.

ANZ Bank expects last week’s move by the PBOC to lift bank reserve requirements will be followed by an increase in official interest rates.

There’s only one way to describe Wall Street last night – all over the shop.

Weekly musings from your editor. It’s iron ore we look into this week as the market craze seems to have matured.

Asian equity markets have run strongly since the credit crisis in August but GaveKal and Credit Suisse see scope for further gains before any bursting of the bubble.