Sunder’s List: Sleepless nights

Roundup: S&P -1.32%, Dow -0.97%, Nasdaq -1.90%, Gold $1,307.60, London -0.66%, Germany +0.44%, France -0.14%. At pixel: Nikkei -1.03%, Hang Seng -0.61%

The chronology of events over the last 24 hours:

  1. S&P maintains a -ve outlook on India, stocks dive
  2. Twitter IPOs with a nice +70% pop
  3. The European Central Bank announced a surprise rate-cut, the euro tanked, stocks jumped
  4. US GDP gave a +ve surprise (at 2.8%), stocks dived (good news => bad news)

Parsvnath plans to list its two million square feet of shopping malls as a real estate investment trust (REIT), potentially making it among the first firms in the country to use such a vehicle to raise funds. Meanwhile, Sebi is likely to propose tax breaks, incentives for REITs. This a widely important move that, if it becomes a trend, will allow commercial real-estate firms to lighten up their bloated balance-sheets. (ET, LiveMint)

Now foreign banks will find it easier to expand in India, thanks to new RBI rules. And we may finally see a round of consolidation in the banking space. (WSJ)

For emerging market central bankers, the real problem is not nodding off, but jolting awake in terror later. (Economist)

Good luck and have a nice weekend!

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