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Market News (01/08/2013)
MADISON, Wis. (1/8/13)

  • Business sentiment worldwide unevenly improved in the past six weeks, with no real spike after Congress passed its tax deal to avoid the fiscal cliff, according to Moody's Analytics Survey of Business Confidence (Moody's Jan. 7). Toward the end of last year, expectations about the prospects of the economy heading into 2013 improved. However, business sentiment still is tenuous and is likely to rapidly decline if federal policymakers cannot fix the remaining debt-ceiling and spending issues in a proper manner, Moody's said. Current business sentiment continues to be an indicator of a fragile economy, Moody's said …
  • The Basel Committee on Banking Supervision, comprising the world's top central bankers and regulators, Sunday announced it will relax a rule intended to make sure that large banks can get through financial crises without running out of cash (The Wall Street Journal Jan. 7). Banks said the rule--known as the "liquidity coverage ratio"--was not workable and was financially risky. They have intensely lobbied the committee for two years to change it, said the Journal. The regulatory committee succumbed to the pressure and made it easier for banks to comply with the rule and also delayed its complete implementation until 2019, the Journal said …

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