Big global banks, including Morgan Stanley, JPMorgan Chase & Co and Goldman Sachs Group Inc are bracing for potential tumult on financial markets after Tuesday's U.S. election. As the outcome of the most bitterly fought U.S. presidential elections starts to roll out by Wednesday in Asia, the regional markets will be the first to trade on the results.
Banca Monte dei Paschi di Siena has asked at least eight banks to guarantee a five billion euro ($5.49 billion) cash call as Italy's third-largest bank races against the clock to comply with regulators' demands to strengthen its balance sheet, a source familiar with the matter told Reuters.
The silver bullion market has a key new player – Enter the Dragon. The Shanghai Futures Exchange in China is replacing JP Morgan bank and its clients as the most significant new source of demand according to a very interesting blog with some great charts and tables published by SRSrocco Report yesterday.