THEME: ASIA

Holdings of US Treasury and agency bonds by foreign central banks have for the first time exceeded $1,000bn, calming fears that a rise in Asian currencies against the US dollar would prompt mass selling of US assets.
The US Federal Reserve's latest weekly data show that foreign central banks hold $799bn in Treasury and $203bn in quasi-governmental agency bonds.

THEME: INSIDERS SELLING
Craig Columbus of Thompson Financial

It's getting a bit repetitive, but for the month of October, the total level of insider buying was only $52 million. That's insiders in total. And that's the lowest monthly total since 1995. The average -- the garden variety -- is about $175 million, so you're far below the average. Now selling was about $3.2 billion, which was one of the higher monthly totals we've seen. You put that all together, the ratio of dollars sold for dollar bought is $59 sold for every $1 bought. And that's the worst monthly reading we've seen in the 15-plus years we've been tracking this.

When is the drop that runneth over???

THEME: FREE TRADE

Pascal Lamy, the European Union trade commissioner, said that the EU would slap tariffs of 8 per cent to 30 per cent on $2.2bn worth of US imports beginning on December 15 unless the US removed the steel tariffs. The additional duties would amount to €600m to €700m ($690 to $800) per year.
The case was brought by the EU, Japan, South Korea, China, Switzerland, Norway, New Zealand and Brazil, which said in a joint statement that the verdict "leaves the US with no other choice but to terminate its WTO-incompatible safeguard measures without delay". Japan has said it is also prepared to levy trade sanctions against the US.

Begun, the Clones Wars has...