Archived IMT (2010.01.21)

Watch Ashrafs VIDEO MARKET ANALYSIS on the STOCKS-FX-OBAMA REACTION http://bit.ly/6d6HZZ Stocks deepen losses after Pres Obama began his speech on restricting banks from proprietary trading. The dollar quickly dropped on fears that the proposed laws will shed a major share of US banking revenues. The story was seen as s US-specific problem (just like Ford/GM/Chrysler was in Dec 08 which weighed on USD). But USD is expected to recover from those losses, catching up with the yen. Nikkei futures -300 pts.