India imposes a per-trade 0.15% tax on bond markets. The bond markets, predictably, virtually cease operation. Wonder how that will affect liquidity in India...
indiadaily.com
"There were a few direct deals — 26 in all, worth Rs 413 crore — on the NSE's wholesale debt market (WDM) segment.
On a normal day, NSE's WDM sees trades worth Rs 3,000-Rs 4,000 crore. "
Korean consumers overburdeoned with credit card debt, stop buying :
biz.yahoo.com
"Household spending, which drove Korea's growth in 2001 and 2002, dropped by 1.4% in the first quarter year-on-year. That's the fourth consecutive quarter of declining consumption. And sales of durable goods -- refrigerators, cars, air conditioners, and the like -- plunged 6.7% in April from the year-earlier period, according to the National Statistical Office."
Worldwide consumer spending slows, wage gap widens in USA:
reuters.com
"The six-month rate of change for other countries showed their economic performance weakening. France showed the smallest change with 6.4 in May after 6.5 in April.
The OECD area's six-month rate fell to 4.6 in May from 5.8 in April and the rate in the United States fell to 2.0 from 3.3.
Strong slides were also registered in Japan (-0.5 from 0.6), Germany (6.1 from 6.7), Britain (2.0 from 3.3) and Italy (0.4 from 1.4)." |
