Prices in Euros per ounce and per kilo in 8 and 24 hour intervals
The MasterMetals Blog
Here are the criminal charges filed against IMF chief Dominique Strauss-Kahn in the Manhattan Criminal Court, NY.
He was denied bail on Monday on attempted rape and other criminal charges and prosecutors said they are investigating whether he may have engaged in similar conduct once before.
Detective Steven Lane, shield 03295 of the Detective Boro Manhattan Special Victims Squad, states as follows: On May 14, 2011, at about 12:00 hours inside of 45 West 44th street in the county and state of New York, the defendant committed the offenses of:
1. Criminal sexual act in the first degree (2 counts)
2. Attempted rape in the first degree (1 count)
3. Sexual abuse in the first degree (1 count)
4. Unlawful imprisonment in the 2nd degree-DNA-eligible MISD (1 count)
5. Sexual abuse in the 3rd degree-DNA-eligible MISD (1 count)
6. Forcible touching-DNA-eligible-MISD
The defendant engaged in oral sexual conduct and anal sexual conduct with another person by forcible compulsion; the defendant attempted to engage in sexual intercourse with another person by forcible compulsion; the defendant subjected another person to sexual contact by forcible compulsion; the defendant restrained another person; the defendant subjected another person to sexual contact without the latter’s consent; and in that the defendant intentionally, and for no legitimate purpose, forcibly touched the sexual and other intimate parts of another person for the purpose of degrading and abusing such person, and for the purpose of gratifying the defendant’s sexual desire..
The offenses were committed under the following circumstances:
Deponent states that deponent is informed by an individual known to the District Attorney’s office that defendant 1) shut the door to the above location and prevented informant from leaving the above location; 2) grabbed informant’s breasts without consent; 3) attempted to pull down informant’s pantyhose and forcibly grabbed informant’s vaginal area; 4) forcibly made contact with his penis and informant’s mouth twice; and 5) was able to accomplish the above acts by using actual physical force.
>Brazil – prepare for devaluation
Guest post By Thierry Apoteker, CEO and chief economist at TAC
TAC quantitative models show that the BRL is currently overvalued by about 25 to 30 per cent. The IMF index for the BRL real effective exchange rate suggests a 50 per cent overvaluation. With a combination of slower growth, higher external deficits, large speculative inflows and difficulty in cyclical management, the question is now not if the currency will depreciate, but when and by how much.
Mongolia plans to issue its first sovereign bonds this month, marking a milestone for capital markets in this resource-rich democracy.The newly created Development Bank of Mongolia will issue $700m in sovereign bonds to fund lending programmes…in areas that include infrastructure, industry, energy and roads.
the issuance would take place in tranches beginning this month, with the first slice likely to be $100m.
The bond will be in tugrik, the Mongolian currency, which has appreciated by 1.6 per cent against the dollar since January.
investment in the mining sector has soared in the past two years along with global commodities prices.Government revenues from the mining sector are set to jump next year as the Oyu Tolgoi copper and gold mine comes online, and politicians in Ulan Bator are looking for ways to manage the coming influx into state coffers.The Development Bank is being set up with training from the Korean Development Bank and the Development Bank of Japan.
yields on the bonds could be quite low, perhaps 6-8 per cent.Mongolian sovereign debt has a B1 non-investment grade rating from Moody’s
Read the full article here: FT.com / Capital Markets – Mineral-rich Mongolia plans to issue first sovereign bonds
In February economic forecasters were quite up beat about the economic outlook. At the time, incoming data were on balance consistent with an acceleration of economic growth. However, statistics released in March quickly started to point to less momentum, a trend that extended in April. By mid month, it was evident that the U.S. economy was hitting a soft patch in Q1. The extent to which reported data were weaker than generally expected over that period is captured by the Citigroup Economic Surprise Index. The rolling three-month index, calculated daily, has contracted significantly since the first week of March and it is still loosing ground. For many, the weakness in reported data and the apparent dovishness of key Fed officials largely explain why 10-year Treasuries closed last week yielding only 3.15%. Obviously, these factors are at play. However, we think it is worth noting that foreign central banks have been hefty buyers of US securities more recently. From April 6 to May 4th, holding of securities held in custody at the Fed for foreign official and international accounts have jumped by more than $51 billion. This did happen while the Fed was proceeding with its large purchases of Treasuries, adding more than $80 billion to its own bonds portfolio. While all the stars appear to have been aligned to pull bond yields lower, it remains to be seen for how long hefty demand from central banks will last. For one, the Fed will be done with QE2 by the end of June. In that context, our belief that GDP will rebound above 3.5% in Q2 make us sceptical about the sustainability of the recent bond rally.
Source: National Bank Financial Group, Paul-André Pinsonnault, Senior Fixed Income Economist
Read the full article at: http://www.ft.com/cms/s/0/2b9bfa74-79a0-11e0-86bd-00144feabdc0.html?ftcamp=rss
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>Just as the days of the teflon market are coming to an end, so slowly prosecutors are finally discovering all the grizly details of how one make billions of dollar year after year without fail. And when they put the full picture together, teflon Stevie is next.