HedgeFundLIVE.com - Morning Notes
- Major headline of the night was that the G7 agreed on a Yen intervention (or “Yen-tervention, as Dean likes to call it) to weaken the currency- financial institutions will have to repatriate funds to pay for insurance claims and reconstruction
- Nikkei closed up 2.7% while the yen sold off aggressively
- UN authorized military strikes against Gaddafi forces- oil has rallied
- The no fly zone vote passed with 10 UN votes and no opposing votes- however, a few countries (e.g., Germany, Russia, India, China, and Brazil) abstained from voting
- Details of no fly zone policy to be cranked out
- Nothing extreme in Manama, Bahrain this morning as large number of security forces remain in the streets
- Regarding nuclear situation in Japan: Japan increased alert level up to 5 from 4 (out of 7 point scale
- A little past 8:39a ET, Libyan Foreign minister announced Libya will close all air space and has decided on an immediate ceasefire
- China increased reserve requirement ratio by 50bps
- No economic data releases scheduled for today
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