• Division remains over the proposed European rescue plan. Deutsche Bank’s Ackerman was critical of proposed changes to the July 21 agreement in principal by Eurozone nations. Little came out of the annual IMF meeting in Washington. From the Financial times.
• Fears of a global economic slowdown add to European woes. Emerging market action combined with base and precious metal declines are adding to concerns. From the Wall Street Journal.
• UBS’ CEO Gruebel is replaced by Serio Ermotti. Turmoil rules at the bank. From Bloomberg News
• More contrarian fodder: A study suggests $92B fled gloabal equity markets in 3 months through August. The trend is continuing in September with $25B in outflows in the first 3 weeks. These figures match the worst numbers from 2009. From the Wall Street Journal.