Asian Markets Mixed Awaiting BOJ Policy Announcement (Bloomberg)
Far East markets began the week on 48-hour notice, as the Bank of Japan holds its annual policy meeting today and tomorrow. Apparently Japanese investors aren’t confident that much will result, as the Nikkei 225 lost 1.52 percent on the day. Yet, the Yen gained on the dollar due to optimism that new Prime Minister Shinzo Abe will push for more government stimulus in 2013 to raise Japan out of its current recession. Other major East Asian markets are taking a more wait-and-see approach and produced mixed results for the day — with no real break outs high or low. Specifically, the Hong Kong Hang Seng closed down .05 percent, while the Shanghai Composite ended the day up .48 percent.
European Investors Applaud U.S. Republican “Olive Branch” (Reuters)
European investors have a brighter start to their week than their Far Eastern brethren, pushing European shares close to a two-year high. This momentum is due in large part to enthusiasm for U.S. House Republican leaders calling for a three-month extension on federal borrowing. This move is viewed as an olive-branch extension to give the Democrat-controlled Senate time to pass its own budget plans. At this time, all three of the main European indexes are up: FTSE 100, STOXX 50 and the German Dax. We’ll see if this warm feeling holds for the week.
Can This Legal Hero Save the World’s Twinkies? (YahooFinance)
The Bakery and Confectionary Union and Industry International Pension Fund (Bakers Fund) for Hostess Brands, Inc. has turned to the legal Heroes of the Gordian Group to help preserve workers’ jobs and the fund’s value. The Gordian Group specializes in rescuing corporate damsels in distressed cases, and the Bakers Fund certainly qualifies as a “Rapunzel” here. With a number of potential Prince Charmings waiting in the wings to purchase Hostess brands, the Bakers Fund will rely on the Gordian Group’s history of saving the day in similar dismal situations. Here’s hoping these heroes also can save the world’s pre-imminent sponge-cake delicacy: Twinkies.