The Japanese markets suffered more losses than the US, but their share of the market was slightly up. A four-day winning streak. Bank of America has released a new report showing that these funds have received $18 billion on average per day since March. 10.
Yellen also defended the Financial Stability Oversight Council from criticism. Some GOP members blame it for not identifying the bank crisis sooner. Bullion hit a session high at $2,043 an ounce and is currently on track to have its fifth positive session in six. Gold prices have risen 11.6% so far in the year. Credit Suisse's annual general assembly heard Lehmann say, "I am sorry that we weren't able to stem our loss of trust over the years and for disappointing you." Swiss regulators facilitated the deal to end a larger global banking crisis. However, it remains mired in legal and logistical problems. The deal was not approved by Credit Suisse shareholders or UBS shareholders.
-- Hakyung Kim