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

Thursday, September 22, 2011

Brazil sees BRICS rising, euro zone default

Brazil sees BRICS rising, euro zone default chance
Reuters
SAO PAULO, Sept 21 (Reuters) - Brazil's finance ministry sees "high probabilities" of default among peripheral euro zone countries, with a rebalanced world economy perhaps leading to more power among major emerging markets. The 2008 financial crisis is ...
Analysis: Planning for Greek debt default gathering pace?
Reuters
While such a widespread writedown seems unlikely -- part of the rationale for an orderly Greekdefault would be to head off the threat of broader contagion -- it cannot be ruled out. That is why even those analysts who expect a default say everything ...
Bahrain Default Risk Rises to 6-Month High on Poll: Arab Credit
BusinessWeek
21 (Bloomberg) -- Bahrain's default risk climbed to the highest since March, at the height of confrontations between government troops and protesters, amid concern tensions may flare up before Sept. 24 parliamentary elections. ...
Blejer Says Greece Should 'Default Big' to End Problems
Washington Post
21 (Bloomberg) -- Mario Blejer, who managed Argentina's central bank in the aftermath of the world's biggest sovereign default, discusses the Greek debt crisis. He speaks with Andrea Catherwood on Bloomberg Television's "Last Word. ...
IMF financial crisis indicator bodes ill for China
Reuters Blogs (blog)
An annual increase in the ratio of a nation's outstanding credit to its GDP of more than five percentage points, the IMF reckons, signals a heightened risk of financial crisis about two years thereafter. Had the IMF followed this simple rule of thumb, ...
Speculation Grows: Greece Will Default On Its Debts
NPR
YANIS VAROUFAKIS: Greece must default, and the logic is very simple: when you have a huge debt buildup and a debt overhang following a financial crisis, it is impossible to repay your debts, even if you are extremely willing to do so, simply by cutting ...
Greece default not an option - EU's Van Rompuy
Reuters
NEW YORK, Sept 21 (Reuters) - European Council President Herman Van Rompuy said on Wednesday that a Greek default would be avoided "because there is no alternative." "The dangers ofcontagion, of default, of restructuring, of leaving the euro zone, ...
High default risk raises lending rates
The Citizen Daily
High default risk is forcing banks to keep lending rates at levels that many potential clients are unable to borrow money. According to bankers, the default or premium risk in the country ranges from seven to 10 per cent.“This is very high compared ...
Sovereign Bond Risk Little Changed in Europe, Debt Swaps Show
BusinessWeek
21 (Bloomberg) -- The cost of insuring European sovereign debt was little changed and credit-defaultswaps on corporate debt fell. The Markit iTraxx SovX Western Europe Index of 15 governments was unchanged at 350 basis points at 3 pm in London, ...
Brazilian Real Falls to Weakest Since June 2010 on Greece Default Concerns
Bloomberg
Brazil's real tumbled to the lowest level in 15 months as Greece's struggle to avoid a debt defaultprompted investors to reduce holdings of higher-yielding emerging-market assets. Brazil's real tumbled to the lowest level in 15 months as Greece's ...
Contagion across the Atlantic
Daily Mail
Bank of America loaded its balances sheet with the rotten sub-prime mortgages of Countrywide, many of which are now in default, as well as the sliced and diced debts based on sub-prime which were on the Merrill Lynch balance sheet. ...
BNP CEO says fears of Italy default unfounded
Reuters
Baudouin Prot, who is expected to retire as CEO later this year, also insisted that concern about an Italian sovereign debt default was unfounded and that the bank was fully equipped to handle a Greek sovereign debt default, should it happen. ...
Greece Will Avoid Default: Greek Foreign Minister
CNBC.com
Greece will avoid default and "absolutely" stay inside the Euro Zone, Stavros Lambrinidis, Greek foreign minister, told CNBC's Larry Kudlow on Tuesday. "For the past year and a half I've been waking up every morning to reports of my imminent death: ...
The Greek default could happen sooner than later ECB pumps money into markets ...
istockAnalyst.com (press release)
Greece will default within the next few months but will stay in the eurozone for the time being; and the eurozone itself will break up in somewhere between five and 10 years' time. Now, of course, that is only a best guess of the likely sequence and it ...
PIIGS scraping the bottom of the CDS trough
Financial News
Once seen as shining examples of eurozone prosperity, the PIIGS -- Portugal, Ireland, Italy, Greece and Spain -- are now a sorry state. It now costs you more to protect yourself against an Italian sovereign debt default over the next five years, ...
Italian Default Risk Less Than Market Thinks: Credit Suisse
CNBC.com
"This is absolutely critical because it means that into a worse-case scenario, namely a disorderly break up of the Euro, Italy would not need to default." "The default risk being priced into the CDS market is too high," they continued. ...
Foreign officials play down default
Kathimerini
“As soon as the markets are convinced that the Greek problem has been permanently solved, the risk of contagion to other countries will be significantly reduced,” he said. Questioned as to what will happen in the event that Greece does receive a new ...
Bank of America, Citigroup Credit Default Swaps Rise after Moody's Lowers Debt ...
Beacon Equity Research
Wells Fargo's credit default swaps jumped 17 basis points to 143 basis points, while Citigroup's credit default swaps rose 19 basis points to 250 basis points. Moody's today said that the US government is more likely now than during the financial ...
Greece likely to default, won't leave euro zone - Fitch
Business Day
GREECE will probably default but will not leave the euro zone, Fitch credit rating agency said yesterday, as pressure increased on the Greek government to finalise fiscal reforms. The European Union (EU) and International Monetary Fund (IMF) are losing ...
Roubini: Greece should default and exit the euro
Citywire.co.uk
'Such official finance to Greece and other eurozone members under stress will limit the contagionand the losses for other periphery and core creditor countries, and will ensure that the domestic Greek financial system and economy does not suffer a ...
Managed default likely scenario for Greece in next year - Citi analyst
RIA Novosti
A managed default is the most likely scenario for debt-saddled Greece in the next six to twelve months, Citibank analyst Giada Giani said on Wednesday. Greece will probably be able to agree with its creditors on the current and next tranches of its ...
Is a Greek Debt Default Inevitable? - The Takeaway
By takeawaydigital@gmail.com (Public Radio International and WNYC Radio)
The Greek Finance Ministry said talks resumed last night between the country and international leaders, on a way to loan cash ...
The Takeaway: Final Edition
Default in the Eurozone — The Impact for the Transatlantic Economy ...
By Joe Quinlan
It produced little in the way of concrete proposals to deal with Greece's acute funding issues and the risks of financial contagion. Only two months after a second bailout was agreed to by European leaders, and amid ... To avoid a potential default -induced financial crisis, the U.S. Federal Reserve has already expanded its swap operations with the European Central Bank, and it may have to do more. It might also need to provide Federal Reserve money for U.S. branches of European ...
German Marshall Fund Blog
10 million more mortgages set to default — Clearing and Settlement
By RSS Feed
Roughly 10.4 million mortgages, or one in five outstanding home loans in the U.S., will likely default if Congress refuses to implement new policy changes to prevent and sell more foreclosures, according to analyst Laurie Goodman from ...
Clearing and Settlement — Clearing...
Preparations for Greek default gathering steam | Economy ...
Eurozone leaders may reject the notion of a 'Greek default.' But private sector economists and political analysts are largely agreed that it is only a matter of time.
FP Top Stories List
Bank of America, Citigroup Credit Default Swaps Rise after Moody's ...
By edliston
Moody's today said that the U.S. government is more likely now than during the financial crisis to allow a large bank to fail should it get into financial trouble. The rating agency was particularly severe on Bank of America as it lowered both the ...
Stock Market News
Probability of default — [EUROPE MAP] | Midas Oracle .ORG
By Chris F. Masse
This entry was posted in Finance, Financial Markets, Hedging & Insurance, The Global Economy and tagged CDSs, credit, credit default swaps, debt, default probabilities, default probability, E.U., economy, Europe, Europe's default risk, ...
Midas Oracle .ORG
Update:ESRB:Risk Of Widespread Contagion From EMU Debt Crisis ...
By Market News International
“The high interconnectedness in the EU financial system has led to a rapidly rising risk of significant contagion,” the statement continued. “This threatens financial stability in the EU as a whole and adversely impacts the real economy in Europe ...
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