Sunder’s List

Current account deficit of PIIGS countries for...

Current account deficit of PIIGS countries for the years 2005-10(Photo credit: Wikipedia)

Global markets mostly down: Stoxx -0.2%, Germany -0.2%, France +0.3%, Italy -0.2%, Spain -1.2%, U.K. -0.6%, Dow -0.23% to 12604. S&P -0.41%, Crude -1.46% to $92.61. Gold -1.15%

Despite repeated attempts to support the rupee by the RBI this week, the currency dropped to Rs 54.51 yesterday morning. Heightened risk aversion due to the eurozone crisis, downbeat projections for India’s growth prospects, widening current account deficit and unusual vulnerability both to increases in oil imports and reductions in foreign investment flows all took their toll. (FT)

63% of all software in India is pirated? I thought it was closer to 99% (FP)

Chinese real-estate collapse: it ain’t pretty. (Source)

And some believe that China’s capital outflow problem is the real ticking time-bomb for markets. (FT)

Is the Euro reaching a tipping point? Slowing appetite for Euro denominated bonds from the Japanese, slowing EM growth, and possibility of Central Banks reducing allocations to the currency. (FT)

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