Daily FNArena News - FYI

Weekly musings from your editor. I think I have discovered a new barometer for global economic growth. Investors better watch this one closely before making any decisive decisions.

Not much on the local calender, but plenty of attention will be paid to economic development in the US and Europe. And to Lehman Bros of course.

It’s been a long day for US authorities and various bankers trying to find a solution for troubled investment bank Lehman. So far no deal appears to be in the making.

Are we soon to see a turnaround in any of these interrelated elements?

The Reserve Bank of New Zealand surprised the market yesterday with a bigger than expected cut to official interest rates.

Bank deposits in Europe are not rising to meet loan demand, exerting even more earnings and balance sheet pressure on the sector.

The US Treasury’s rescue of Freddie Mac and Fannie May should help US markets rally, pulling Australian equities along for the ride.

It was inevitable. The US government last night stepped in to take over control of mortgage lenders Fannie Mae and Freddie Mac.

Stocks are bouncing, but down more than up, everybody’s got a different take on rates and Fannie and Freddie, they’re officially a charity case.

State Street notes managed fund flows continue shifting out of emerging markets and into developed markets as investors remain nervous about the future.