The FT's markets round-up: "After falling sharply following Mr Bernanke's testimony, US equities recovered to close higher on the day supported by a couple of well-received US corporate earnings. A survey that showed US homebuilder confidence surged in July by the most in nearly a decade has also helped lift the S&P 500 up 0.7 per cent. The FTSE All-World equity index gained 0.6 per cent after and advance in the Asia-Pacific region. The FTSE Eurofirst 300 meanwhile slid 0.2 per cent. The euro closed the session slightly higher at $1.2286 after briefly trading below $1.22. Ben Bernanke was circumspect about the possibility of further quantitative easing at the next FOMC meeting, though in testimony before Congress he gave a sombre outlook for the US economy. (Financial Times) He added in the testimony that he considered Libor to be "structurally flawed." HSBC's compliance chief announced his resignation during a hearing before the US Senate after the release Monday of a scathing report alleging that the bank had failed to prevent the laundering of Mexican drug money and numerous other illegal transactions. Dealbook Intel's second-quarter profits beat expectations but the company warned that its third quarter would disappoint, partly blaming the economic slowdown in China. "Goldman Sachs is on track to post its worst earnings year since before the financial crisis after a slump in trading activity hit the investment bank's second-quarter profit," reports the FT. Day two of Bernanke's testimony to Congress. The MPC minutes to the Bank of England's last meeting, when it announced more asset purchases, will be released. Germany sells two-year schatz. Interesting theory on why Romney is withholding more tax returns. Alexis Madrigal's suggestions for Marissa Mayer. The NY Fed on the housing bottom. Why the mortgage interest deduction is terrible. An existential detective story: Brian Lehrer interview Jim Holt. This entry was posted by Cardiff Garcia on Tuesday, July 17th, 2012 at 22:37 and is filed under Uncategorised.