U.S. stocks rose, with the Standard & Poor’s 500 Index climbing to a record, as retailers led gains amid optimism over the holiday shopping season. Treasuries extended their advance after Janet Yellen said the American economy must improve before cuts to monetary stimulus.
Sweden’s Finance Minister Anders Borg made news in a different way today and triggered a wave of social media speculation and puns as he appeared at a Nordea Bank AB event in Stockholm without his trademark pony tail.
Sweden’s central bank can’t use harsher regulation as an opportunity to ease policy in the long run because raising capital requirements probably won’t drive up borrowing costs, Deputy Governor Martin Floden said.
Sweden’s banks, which are among Europe’s best-capitalized, are warning that excess reserves can’t cool a property market at risk of overheating as they urge the government to address a chronic under-supply of housing.