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Lunch Wrap
FT Alphaville — From FT Alphaville this morning, - Bank of England cuts rates 150 bps. - Fed capitulates: the central bank is broken. - Banking on a mega cut. - Surivival of the Euro Zone. - Anglo Irish’s “benefit”. - The oil-major prop desks cometh. - Is there a false market in the UK property sector? - Man down. - BoE’s super cut and how the Fed is broken on Markets Live. On FT.com, - Bank slashes rates by 1.5%. - Turbulent markets hit Man Group. - 3i shows first negative return in five years. - D ...

Gold Rebounds Within the Range After More Rate Cuts
GoldSeek.com — ... after dropping sharply on Wednesday. The DJIA recorded its largest post-election day point drop ever. Yesterday's ADP employment report showed that nonfarm private employment fell by 157,000 jobs in Oct. This sets the stage for a rather dismal nonfarm payrolls number on Friday. Look for gold to remain underpinned on continued safe-haven interest. A short-term retest of last week's high at 776.80 is likely with potential for a move back above $800.00. Gold Market Movers : UK interest rates cut to 3% ECB cuts interest ...

Hear no crunching, see no crunching… Trichet lost in translation?
FT Alphaville — ... ECONOMY IN RECESSION It’s clear we have more and more, depending on the vintage of the projections, indications by all private and public entities the sentiment that after the very recent intensification of the financial turbulences, particularly since mid-September, which marked a new episode in the intensification of the financial turbulences, the impact on the real economy seems to be more and more important and then negative figures are appearing progressively. Uh? Related link: European rates cuts on Thursday - FT.com adn Chris Giles video

Interest rates slashed in UK, Europe
FT Alphaville — Interest rates in the UK and across Europe were slashed on Thursday with clear indications of more cuts to come, as the IMF forecast that the British economy would suffer a downturn next year on a par with the early 1990s recession. The Bank of England cut its official rate by 1.5 percentage points to 3% - three times larger than any cut since the Bank’s monetary policy committee was established in 1997 – and suggested at least another percentage point cut to 2% by April. The ECB followed the Bank’s move with a half a percentage point cut to its main rate to 3.25% and hinted ...