Monday, December 27, 2010

Each of the 10 states losing congressional seats as a result of the newly announced 2010 census
reapportionment process is politically Democratic, based on a Gallup political identification measure
from the first six months of this year. Five of the eight states gaining seats skew Republican. – Gallup
China - The People's Bank of China said Saturday that it will raise the one-year yuan lending rate
by a quarter of a percentage point to 5.81% from 5.56%, and the one-year yuan deposit rate to 2.75%
from 2.50%. More rates hikes have been expected, although most thought China wouldn’t move again
until ’11; Beijing has been aggressively raising bank RRRs and some investors had come to think this was
the country’s preferred method for fighting inflation (vs. outright rate increases). – JPM
Auto stocks fall in Asia and Europe on continued concerns about new license plate limits in
Beijing
Goldman Asset Mgmt chairman Jim O’Neill bets on the US – believes that the US economy, and
its stock market, are poised for some of the best gains in ’11. London Telegraph
HF manager David Einhorn believes that the crisis that required zero interest rates has passed.
London Telegraph
McKinsey Surveys executives – 85% say they expect their country’s economy to be the same
(31%) or better (54%) – McKinsey