Finally a Chinese bid for Potash?

Finally a Chinese bid for Potash?

This week or next will see a bid from China for Potash Corp. of Saskatchewan (POT), Canada’s Globe and Mail is reporting. The newspaper’s sources say Beijing is now deciding which of the proposed bids from China’s state-owned companies it should back. Pending Chinese national holidays beginning on October 1 argue for a decision this week or next.

Look for more action to drive down the yen

Not content with the drop in the yen after the Japanese government decided to intervene in the currency market by selling yen, big Japanese exporters are urging the government to take the yen down further to 90 to the dollar.
And according to the Bank of Japan’s quarterly Tankan survey, Japan’s biggest manufacturers expect that they’ll win this argument.

Good news on jobs and deflation this morning

Good news on jobs and deflation this morning

The economic news is giving the stock market all the help it can this morning to break through the top of the four-month-old trading range at 1127 on the Standard & Poor’s 500. New claims for unemployment fell to 451,000 from 478,000. Economists were expecting a much smaller decline to 470,000 for the week.