Equities rally despite lower than expected durable goods and home sale numbers. (Wall Street Journal) As capital flees the safe haven of bonds, yields rise.
CNBC’s Jeff Cox discusses the rise in bull sentiment despite weak economic reports. (CNBC.com) (Includes embedded video link to CNBC interview with Appaloosa’s David Tepper, who discusses upside.)
Japanese foreign minister Seiji Maehara expresses intent to intervene (Wall Street Journal) If Yen continues to rise to prevent overvalued currency from stifling exports.
Judge Ok’s Citi-SEC settlement. (New York Times) The $75 million settlement results from the bank’s failure to adequately disclose exposures to subprime mortgage debt. But Judge Ellen Segal Huvelle is skeptical of the paltry sums ability to serve as an effective deterrent.
Pandit Passes on Pay Hike for second year. (New York Times) But don’t forget his $79.7 million windfall after selling Old Lane Partners to Citi for $800 million in April 2007.
Fla. bank robbers strap bomb to abducted teller. (CNBC)
David Brooks on restructuring government. (New York Times)