+ China increased bank reserve requirements by 50 bps, 5th increase this year.
+ China may impose temporary price controls on daily necessities to counter the fastest inflation in 2 years. Food prices jumped 10.1% in October YoY.
+ Hong Kong imposed taxes of 15% on properties held for 6 months or less and increased down payments on homes costing $1.5 million US to 50% from 40%.
+ India’s Premier Singh recently told energy firms to begin a global search for fuel supplies. Demand for fossil fuels is expected to increase by 40% over the next 10 years and they currently import 80% of their crude oil supplies.
+ Insiders sold a record $4.5 billion of their company stock last week.
+ Ontario government is introducing broad new rules to police the Canadian derivatives market. A senior banker said “They are desperate to have this be an Ontario solution.”
+ Ireland’s aid plan from the EU and IMF is expected to be unveiled next week.