Rock of Gibraltar (listen)

Intro: Rock of Gibraltar by Nick Cave. This morning I was reading about Japan and the yen hitting new lows. So in my ever curious mind I started wikiking things and sending out emails to get my head around this so I can explain this on the show at 9am. Gillian Tett from the Financial Times was kind enough to get back to me in regards to an article she wrote today she says.. “What central bankers and G7 really want is a stealthy, slow appreciation of the yen - I doubt they will get it”. Gillian worked at Long Term Capital Management in Tokyo in 1998 when the currency crisis and the unwinding of the carry trade sent the yen up 18%. She has even written a book on it. The EU finance ministers meet this week. Dr J called in gave us Alcoa (AA) April 35 puts Smurfit Stone (SSCC) March 12 1/2s and Sovereign Bank (SOV) Talk on U5's and more more on CoffeyGrinds at 9am and 12noon.