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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Wednesday, August 31, 2011

Stay Out Of Euro-US-China Menage A Trois

PIMCO's Bill Gross: Stay Out Of Euro-US-China Menage A Trois
Forbes (blog)
In other words, instability is so high in Europe that the possibility of one or more of the distressed PIIGS exiting the Eurozone is very real. Other highly destabilizing scenarios, like a Greek default, are also on the table, ...
Berlusconi Accepts Allies' Demands to Overhaul $66 Billion Austerity Plan
The ECB has restrained Italy's borrowing costs in the past three weeks by buying its bonds in the secondary market after contagion from the sovereign-debt crisis sent yields to a euro- era record 6.40 percent on Aug. 5. “The deterioration in Italy's ...
Swiss Re: Nordic Insurers Stood Up Well Through Financial Crisis
Insurance News Net (press release)
Insurers in the Nordic countries fared better than others during the financial crisis of the past three years, but they, like insurers throughout the rest of Europe , will need to deal with tougher market conditions than before the crisis, according to ...
ECB Trichet: Euro Is A Strong Currency, Has Kept Value
Wall Street Journal
The euro zone is facing credibility problems because of the problems of some of its member states and not because of a euro-zone-wide issue, Trichet said. European governments "are trying to cope with a situation," which is the gravest financial crisis ...
ANEK: Losses Downsized In 1st Half 2011
Capital.gr (press release)
... versus euro 111.8 mil in the corresponding period last year, while EBITDA amounted to losses ofeuro 3.3 mil versus losses of euro 13.8 mil. According to an announcement, the passenger ferry industry was dearly affected by the financial crisis...
The Mega-Merger: The United States and Canada
Business Insider
There is a very real possibility that the woes of the eurozone will mushroom into a Lehman-style financial crisis in September or October of this year. Such a financial crisis initially would be euro-centric, but ultimately (and quickly) it would have ...
Crisis-ridden Belarus to allow free float of its currency in mid-September
Washington Post
Belarus is mired in its worst financial crisis since the fall of the Soviet Union. The government devalued the ruble by some 50 percent this year, causing panic buying of staples and huge lines at foreign exchange offices. Foreign currency has been ...
Analysis: Pockets of debt illiquidity show rising bank fears
Banks have also much higher capital levels since the financial crisis. That said, some traders worry things could worsen. The corporate bond market, for example, has seen spotty liquidity, traders said. Bank of America's (BAC.N) credit default swaps ...
China's yuan could challenge dollar role in a decade
In promoting the yuan's use overseas, China's leaders are seizing an opportunity to gain a foothold in Asia at the expense of the United States, Europe and Japan, all weakened by the global financial crisis, Garcia-Herrero said. ...
Amateur Hour Cancelled
Cayman News Service
Questions had been raised in the press by some institutional investors about the performance of some independent directors during the recent financial crisis and now many of these questions have been decisively answered by the Grand Court of the Cayman ...
Greece: Bond exchange hits leading lender NBG with €1.31bn losses
Washington Post
Greece is grappling with a major financial crisis, avoiding bankruptcy by receiving two successive international bailout loan agreements worth a total €219 billion ($315.4 billion). Voluntary private sector involvement was agreed as part of the second ...
The world needs a strong, united Europe
CNN (blog)
By Joschka Fischer, Project Syndicate BERLIN – Slowly, word is getting round – even in Germany – that the financial crisis could destroy the European unification project in its entirety, because it demonstrates, quite relentlessly, the weaknesses of ...
Poland May Join Euro Zone Before 2020, Says Central Banker
Wall Street Journal
Poland agreed to adopt the euro before it joined the European Union in 2004. It doesn't have a formal euro adoption target after dropping 2012 amid the financial crisis following the collapse of Lehman Brothers in 2008. ...
Consumer confidence plunges, but Americans might still spend
... month when the economy shed 539000 jobs amid recession and financial crisis. Blame for the steep drop fell on Congress and Washington's political brinksmanship over the debt ceiling, which took the nation to the verge of a first-ever debt default...

Contagion alert
istockAnalyst.com (press release)
default has not been ruled out and if it came, the losses would be much higher and inevitably restrict lending. Similarly, the Greek troubles were well documented when it needed an ECB bailout in 2010. Earlier this year it became apparent the terms ...
Strong franc fuels gloom at small Swiss firms-survey
Although 87 percent of firms evaluated their current business situation as positive, the proportion of pessimists hit its highest level since the peak of the financial crisis in February 2009. "The turbulence on the world markets and the ongoing euro ...
Italy Living on Borrowed Time
Wall Street Journal
At the time, fears of debt-crisis contagion from relative minnows Greece, Portugal and Ireland were threatening to strand the whales of Spain and Italy. Investors were worried that the euro zone's €440 billion rescue craft, the European Financial ...
What Caused The Financial Crisis? Don't Ask An Economist
Business Insider
What caused the financial crisis that is still reverberating through the global economy? Last week's 4th Nobel Laureate Meeting in Lindau, Germany – a meeting that brings Nobel laureates in economics together with several hundred young economists from ...
Labor's great financial crisis split with Reserve Bank of Australia: WikiLeaks
The Australian
LABOR'S handling of the global financial crisis has come under fresh scrutiny, with a leaked diplomatic cable revealing a split with the Reserve Bank on the economy's ability to recover on the back of the China boom. A 2009 US embassy cable released by ...
So what's the catastrophe du jour?
And it might lead to contagion. You better sell your stocks right now because of this Greece contagion risk. Oh wait. My bad, I was watching a replay of CNBC from two weeks ago. Or was it two months ago. Or was it two years ago. Hmm. I can't remember. ...
Dollar Stores Seem To Have Bright Futures
Seeking Alpha
In fact, the psychological shock from the 2008 financial crisis continues to lure in many households for periodic dollar store shopping trips, instead of the once normal fill-in visits. I think it's important to have exposure to best in breed in a ...
Scariest films are those that could really happen
By Mark Blankenship “Contagion,” opening Sept. 9, looks scary, and not just because of Gwyneth Paltrow's face in the poster. It's about the worldwide outbreak of a deadly virus that threatens to kill the entire human population, and if you think about ...
Despite Being Squeezed At Home, Banks Kept Lending To Foreign Markets
Business Insider
At the height of the financial crisis in 2008-2009, it seemed as if Western banks would pull up their foreign stakes and go home, leaving financial markets much more fragmented along national lines. But, as a new report by Deutsche Bank Research shows, ...
Canada's Dollar Falls for First Time in Three Days on Sapped Risk Demand
Government bonds were headed for their best monthly returns since the depths of the financial crisis in 2008. “We're going to follow the path of other asset markets, so you have to have a view on equities,” said Shane Enright, executive director at ...
WORLD FOREX: Euro Falls Back After Dire Confidence Data
Combined with an Italian bond auction that underwhelmed most investors and raised fears that sovereign debt contagion may yet claim the euro zone's third largest economy, the dour sentiment figures helped drag the euro below $1.44. ...
Could France Be Downgraded?
FN Arena News
Firstly there is the simple risk of euro-debt contagion but also a risk, suggests Danske, that an increased European Financial Stability Fund (EFSF) could actually prove a “contagion carrier”.Contagion or not, one cannot dismiss the psychological ...
The Year Of The Japanese Yen
Daily Markets
The world of currency trading has been on extreme volatility so far this year because of all thefinancial crisis major economies have been experiencing. So if you ask me what currency has been performing well, 2 answers come to mind. ...
US Treasuries Largest Bubble in World History, Says NIA
MarketWatch (press release)
Market volatility is now at a level last seen in March of 2009 towards the end of the last financial crisis. On days with either positive economic news or rumors that Bernanke is getting ready to unleash QE3, stock prices rise while the prices of both ...
Despite Financial Crisis, Renewables Surged Forward in 2010
The renewables sector as a whole is unquestionably buoyant, despite the repercussions of the financial crisis. Yet it must also be recognised that unpredictable policies on financial support are still affecting some markets for renewable energy. ...
Prudent Germans opposed to Euro bailout
Greeley Gazette
The graphs and really cool big dots are colorful, but the real story behind the financial crisis facing most of the members of the EU is almost completely ignored. In the conclusion, the article refers to Germans as prudent people who have managed to ...

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