Sunder’s List

America votes! Obama victory predicted. Markets: Dow +0.98% to 13242. S&P +0.74%. Crude +3.17% to $88.36. Gold +1.96% to $1716.25. Stoxx 50 +0.7%. France +0.9%. Italy +0.9%. London +0.79%. Germany +0.70%.

Robusta coffee fell to a nine-month low as expectations of a bumper harvest in Vietnam prompted widespread selling. (FT) [stockquote]TATACOFFEE[/stockquote]

The government will soon allow FIIs to invest in asset reconstruction companies (ARCs), a measure that could encourage firms that deal with non-performing loans to list on stock exchanges. ARCs help clean up balance sheets of banks and financial institutions by taking over their bad assets. (ET)

Shareholders of Chennai-based Marg have complained to Sebi about the company’s move to raise Rs 500 crore through a QIP. (ET) [stockquote]MARG[/stockquote]

Wall Street’s credit-derivatives traders are being replaced by machines. UBS fired its head of credit-default swaps index trading, David Gallers, last week, with no plan to fill the position. Instead, the bank replaced Gallers with computer algorithms that trade using mathematical models. (Bloomberg)

The debate about the effectiveness of unconventional monetary policy measures such as quantitative easing remains perennially inconclusive. Yet the experience of Japan suggests there is one clear negative outcome from ultra loose monetary policy: it does structural damage to the economy. (FT)

Good luck!

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