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January 2011

1.  Russia plans to cut 110 000 jobs by 2013 to save $1.4 Billion

2. Failure to raise US Debt ceiling catastrophic. Goolsbee says - Bloomberg

* 4 January 2011

1. Oil to go stratospheric & OPEC to review supply increase June 2011

* 6 January 2011

1. Japans fiscal situation approaching the edge of the cliff –Sengoku NB

2. China European Tour & EU Sovereign Debt temporary bailout $2.65T

* 11 January 2011

1. Japan pledges to buy Euro Bonds to aid China in assisting Debt ridden Europe.

2. UK Bank bailout totalled 1, 1 Trillion pounds. EU 2.65Trillion, and US $1.7 Trillion from the Chinese, first loan to Obama.

3. U.S.- Record $14 trillion plus debt weighs down on congress.

4. Chinese Premier HU receives full U.S. State visit reciprocity- status fuels Obama duelling with China /Debt and Yuan as an alternative international reserve currency, threatening the Dollar status. Yuan goes global and China wants its sovereignty status recognized. Former president Bush only provided a lunch!!

5. A New era of cyber warfare Falkenrath: - NB!!

6. AIG problem is much bigger than I ever anticipated- Kashkari (Pimco)

* 19 January 2011

1. IMF conducts Financial Assessment Programs –UK, Sweden, Denmark, Spain, Portugal act.

2. Premier HU state visit to the US has been described as the most important state visit in 30 years, and the most important relationship in World affairs today.HU to set out his vision & policy moving forward.

* 20 January 2011

1. Default swaps climb to six month high amid record debt sales. Japan Credit

2. Global Bond growth decelerates to pre-crisis levels- Euro Credit

3. Bonds at risk as Moody`s set to lower credit ratings- Euro Credit

4. Europe`s new risk watchdog probably lacks the teeth to avert the regions financial crisis, economists say

5. BASLE rules for covered Bonds NB

6. Israel sets rules for foreign exchange deals

* 27 January 2011

1. Japan – Rating agency Standard & Poors (S&P;) has downgraded Japans credit rating from AA to AA-, citing Japans worsening debt situation for the move. It said it expected Japans debt, which already stands at almost twice the country’s annual output, to continue rising for about 15 years. It added that the governments ‘lacked a coherent strategy’ for tackling the debt problem.

2. Oil surpasses $100 with new Bloomberg targets set beyond $110

3. US Treasury Debt latest- Federal Reserve purchased $1,1 trillion and largest foreign holders remain China $900 t & Japan $800 t ( approx)

4. Chinese new year- Year of the rabbit

5. IMF warns of knock on effects of European contagion in Asia. Raises concerns about Japan ( see IMF web site) and IMF Global Financial Stability Report October 2010