Risk assets continued their retreat in Asia on Wednesday as renewed fears of a Greek eurozone exit appeared, says Reuters, with the MSCI Asia Pacific falling 1.7%. Germany restated its opposition to eurozone bonds, despite support from Paris, Rome, Brussels, the OECD and the IMF. The FT reports that German officials said the country's position on the subject would not change in June. Morgan Stanley has been subpoenaed by Massachusetts" top securities regulator as part of an investigation into whether its analysts communicated revisions of Facebook's revenue forecasts broadly to all clients ahead of last week's IPO, reports the FT. Meanwhile Finra's CEO said the matter would be of concern to both that regulator and the SEC, adding: "And without saying whether it's us or the SEC, we will collectively be focusing on it," reports Reuters. Morgan Stanley said its pre-IPO actions were compliant with regulations, says Bloomberg. Fitch Ratings has placed the ratings of major Japanese banks on Rating Watch Negative, following its downgrade of Japan's sovereign rating a day earlier. Statement The BoJ left its asset-purchasing fund and its credit programme unchanged, but half of 14 economists surveyed by Bloomberg expect the central bank will announce more stimulus measure by July. Allan Chan and other former Sino-Forest executives have been formally accused of fraud by Canadian authorities, says the FT. Trafigura is moving its headquarters to Singapore from Switzerland, because of lower taxes, says the FT. The eurozone must adjust now or breakup, says Martin Wolf. Devalue the euro, says Jeremy Seigal. The "Wenzhou model" - China's lending laboratory. A Facebook IPO tic-toc. Making TVs in Detroit: a shipping and duties vs labour cost arbitrage. The DTCC is looking into whether settlement times should be shortened. Republicans are frustrated by JP Morgan's trading loss. Comments from German official and from former Greek prime minister Lucas Papademos heightened fears of a Greek euro exit ahead of an EU summit on Wednesday. This entry was posted by Kate Mackenzie on Wednesday, May 23rd, 2012 at 5:35 and is filed under Uncategorised.