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Banking

WireTap 1400 23/01/12

A round-up of the key stories across the specialist financial media, including news that the head of the IMF has said that the eurozone needs a bigger firewall to prevent Italy and Spain sliding towards default.


Lagarde calls for bigger eurozone firewall

The head of the International Monetary Fund said on Monday the eurozone needed a bigger firewall to prevent Italy and Spain sliding towards default, underlining Europe’s responsibility in solving its own sovereign debt crisis.

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German debt in demand

Germany's latest offer of short-term debt drew healthy demand at an auction Monday, as investors continued to pile cash into safe-haven paper despite historically low yields and a cautious "risk-on" mood in secondary markets.

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Draghi makes euro favorite for most-profitable carry trades with rate cuts

Betting against the euro may be the most profitable trade in the foreign-exchange market as policy efforts to stave off a European recession debases the currency.

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Futures higher as Wall Street looks to extend rally  

Stock index futures edged higher on Monday, after stocks posted their best week in a month as the euro zone debt crisis and the U.S. economy showed signs of stabilizing.

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China Is 175.6% dependent on the US

The Chinese economy increased its dependence on the United States last year according to recently released trade figures from Beijing and Washington.

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