Daily FNArena News - FYI

Bear Stearns is small fry compared to America’s large commercial banks. James Turk looks at the biggest of them all – Citibank – and how it shapes up alongside the investment banks.

JP Morgan has acquired Bear Stearns not for US$20ps, but for US$2ps – all scrip. Goldman Sachs set to announce big losses. The Fed cuts the discount rate.

JP Morgan may have bought Bear Stearns by this morning while the Fed could cut 100 points.

The temporary bail-out of distressed US investment bank Bear Stearns poses all sorts of problems of its own.

Last night’s announcement by Standard & Poors that an end to subprime write-downs is in sight means little in the wider scope of the credit crunch.

Has the latest Fed move solved anything?

While interest rate differentials have supported Aussie dollar gains against the greenback, CIBC notes cuts are starting to be priced in and this suggests downside risk for the currency.

Weekly musings from your editor. Instead of being blinded by the comfort of market consensus, investors are often better off by focusing on the standout individual.

Brazil, Russia, China and India have been emerging growth engines this decade so Credit Agricole has turned its attention to which countries may emerge as the world’s next growth nations.

After weak economic and employment data, what dilemma will the Fed face this week when the latest CPI is released?