Bank of America Repaying TARP
Bank of America announced that it will repay all bail out funds. Bloomberg link: Bank of America to Repay Bailout, Easing CEO Search. The stock is trading up 4% despite massive dilution. No comment.
Initial jobless claims were reported at 457.000 vs. 466.000 and 485.000 consensus. Again falling steady. Bloomberg story: U.S. Jobless Claims Unexpectedly Fall to One-Year Low.
ECB has kept the rates unchanged as expected as expected. Risky assets are looking a bit tired.
I find highly amusing the news surrounding Russia’s Rusal (worlds largest producer) owned by Mr. Oleg Deripaska potential IPO. Financial Times story: Setback for Rusal IPO plans. Looks like Chinese investors will get good price for the offering.
Bank of America, ECB, ECB Key Rate, Initial Jobless Claims, Rusal