Asian Equities Higher After Most European Banks Pass Stress Tests

Markets in Asia were mostly up and European exchanges were expected to open higher on Monday, as investors appeared to shrug off news that most European banks received a clean bill of health from the European Central Bank.

The E.C.B. said on Sunday that 25 European banks had failed crucial stress tests to determine whether they could withstand a financial crisis, leaving a shortfall of 25 billion euros, or about $ 31 billion, in cash. The tests were widely watched as a measure of whether European banks, ravaged by the financial crisis, were finally turning the corner.

But no major European bank failed the yearlong audit, which was based on bank figures from the end of 2013. Since the start of the year, some of banks have raised fresh money to fill existing holes, but 13 of the 25 banks that failed have not yet raised enough money. These are mainly Italian and Greek banks.

NY Times

MarketPulse

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China January lending soars to four-year high @ Forex Factory

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China January lending soars to four-year high – China's banks disbursed the most loans in any month in four years in January, a surge that suggests the world's second-biggest economy may not be cooling as much as some …

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China January lending soars to four-year high @ Forex Factory

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Citi, Goldman FX Heads Leaving In "Entirely Unrelated To FX Probe …

When Reuters reported earlier today that Anil Prasad, the global head of foreign exchange at Citigroup, the world’s second largest currency trader, is leaving the bank, our ears perked up. The reason is the news overnight that according to the British financial watchdog, Martin Wheatley, the allegations for FX manipulation, “are every bit as bad as they have been with Libor” which supposedly means they are taking them seriously. Could this departure have anything to do with a probe that has already snared head FX trades at JPM, Deutsche and countless other banks? Well, Reuters promptly clarified that Prasad’s departure is not related to the global investigation into allegations of currency market manipulation, a source familiar with the matter said. “Anil’s decision is his own and entirely …

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The reason is the news overnight that according to the British financial watchdog, Martin Wheatley, the allegations for FX manipulation, "are every bit as bad as they have been with Libor" which supposedly means they are …

For more info: Citi, Goldman FX Heads Leaving In "Entirely Unrelated To FX Probe …

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Citi, Goldman FX Heads Leaving In "Entirely Unrelated To FX Probe …

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Top Money Resolutions for 2014

Money Magazine recently shared the top five money resolutions people have for 2014 as follows: 1. Simplify my finances 2. Save more for retirement 3. Pay down debt 4. Donate more to charity 5. Create and stick to a budget Here’s where I stand on these:I have been working on simplifying my finances for the past few years, namely reducing the number of investment accounts, credit cards, banks, etc. that I do business with. So I’m pretty set in this area. I have recently updated my retirement plan numbers and have a goal I want to save for 2014. It’s a good-sized goal, but I think I can beat it. I have been debt free for almost 20 years now and I don’t plan on taking on debt at this point. I have …

via Free Money Finance:

Money Magazine recently shared the top five money resolutions people have for 2014 as follows:

1. Simplify my finances

2. Save more for retirement

3. Pay down debt

4. Donate more to charity

5. Create and stick to a budget

Here’s where I stand on these:

• I have been working on simplifying my finances for the past few years, namely reducing the number of investment accounts, credit cards, banks, etc. that I do business with. So I’m pretty set in this area.


• I have recently updated my retirement plan numbers and have a goal I want to save for 2014. It’s a good-sized goal, but I think I can beat it.


• I have been debt free for almost 20 years now and I don’t plan on taking on debt at this point.


• I have an annual budgeted amount both for giving to my church and outside charitable giving as well.


• I haven’t had a budget in years, but this year I’m planning on making one, just to see how much potential retirement savings I can squeeze out of a year.

In addition to the above, here are other financial plans I have for 2014:

• Review my investments once a month just to make sure they are on track.


• Complete my (increasingly complicated) taxes. Yes, I’ll be using a CPA.


• Complete a list of where all my accounts are, contact info, web passwords, etc. for my wife in case I pass away.


• Review my credit report twice.


• Update our will/estate plan.


• Complete my real estate remodels and manage properties as needed.

That’s what I have planned for 2014. How about you?

For more info: Top Money Resolutions for 2014

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Top Money Resolutions for 2014

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