Mindful Money’s news round-up: Monday 13th June 2011

13th June 2011

Story of the day:

From the Telegraph, The Bank of England has begun tracking internet search terms in an effort to better understand consumer behaviour as it admitted that tracking inflation expectations was proving difficult.

Bank of England begins tracking internet searches to understand consumer behaviour

And the best of the rest:

The ongoing saga about who will be the next head of the IMF is being reported by the New York Times, with probably the most impressive résumé and the least chance of succeeding, Stanley Fischer, the governor of the Bank of Israel, has added his name to the list of candidates for managing director of the International Monetary Fund.

Israeli Economist Enters Race to Lead I.M.F.

Also in the New York Times, Bond traders and officials at the European Central Bank have been unified in their warnings that a restructuring of Greece's debt would set off an investor panic similar to the one that followed the bankruptcy of Lehman Brothers.

In Greece, Some See a New Lehman

In the Guardian, the IMF is the latest corporation to be cyber hacked. The International Monetary Fund (IMF) is investigating a serious cyber-attack in which some of its systems were compromised and used to access internal data. Security experts said the source seemed to be a "nation state" aiming to gain a "digital insider presence" on the network of the IMF, the inter-governmental group that oversees the global financial system and brings together 187 member countries.

IMF cyber-attack led by hackers seeking 'privileged information'

From the Independent, investors should be wary of emerging markets. "The fact they have performed so strongly should be a warning signal rather than a buying opportunity," says Mr Connolly. "Emerging market governments may be in a stronger position in terms of debt levels, but there is increased political risk in a lot of them. We saw this is the recent Middle East and North Africa unrest."

Emerging market bonds: safe haven or too high a risk?

The Wall Street Journal are discussing a double dip in the US. For those fretting that a string of disappointing U.S. economic data presage a double dip in the recession, there is good news and bad news. The good news: It would probably take a significant shock to knock the economy off course, even in its weakened state. The bad news: In the current environment there are plenty of potential shocks to worry about.

What It Would Take to Do a Double Dip

Reuters is saying, shares in Kazakh miner ENRC (ENRC.L) jumped almost 5 percent in early trade after a Sunday newspaper report that commodities trader Glencore (GLEN.L) 0805.HK was considering a 12 billion pound takeover bid.

ENRC shares jump after report Glencore mulling bid

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