in India, the BBC noted that nearly a quarter of all trading is now done using algorithms, a number that’s virtually assured of an exponential jump as well. The Bombay Stock Exchange, a $1.5 trillion marketplace, said it expects such trading to double over the next three years, which would put that nation on par with Europe and the U.S.
The US is expected to grow only 1.1% in 2013, says Congressional Body. (BK)
Low cost of debt (ZIRP) encourages substitution of labour with capital in the production process. Given that 60-70% of activity in developed economies is driven by consumption, this shift reduces aggregate demand as employment and income levels decrease. (FT)
Scary European unemployment chart du jour:
And a must see infographic.
What a January! One of the few in recent memory that ended up. NIFTY up a solid 11.2%, the Jr. NIFTY up 17% and Banks outperformed coming in at 25%
Major drivers were Greece, stabilizing inflation and RBI’s CRR cut. RelCap got a boost with Nippon Live pumping in close to Rs. 1,500 crores, SUZLON announced Rs. 2,000 crores in orders and the market seems to have shrugged off India Bulls Real Estate’s Q3 net being down 45%
The biggest winners were:
And the few losers of note were:
Image via Wikipedia
Stuff I’m reading this AM
Emerging markets have faster growth, lower debts and better demographics than developed countries, should they trade at a premium? (Reuters)
Some technology star gazing: The Coming Tech-led Boom
Stuff I’m reading this morning
Mumbai full of unsold flats; prices to fall 15-25% after June, take over four years to clear the stock (DNA)
Accounting scams worth billions of dollars in China (WSJ)
The Economist on Greece circling the toilet.
If Greece is the new Lehman, is Portugal the new Greece? (Telegraph)