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

Tuesday, September 13, 2011

Greece Default Risk Jumps to 98% - Euro Bank debt risk highest ever

Greece Default Risk Jumps to 98%
Bloomberg
The risk of contagion beyond Greece pushed sovereign credit-default swap prices to record highs across the euro region. European bank debt risk also rose to the highest ever amid speculation French lenders will be downgraded because of their holdings ...
Italy Seeks $10B as Contagion Slams Demand
Bloomberg
“The contagion impact of a default will be severe, because next in the firing line will be Italy, Spain, and it will take in the whole of the European banking sector too,” Suki Mann, a strategist at Societe Generale SA in London, wrote in a report. ...
Student Loan Defaults Reach Highest Level In More Than A Decade
Huffington Post
Students at for-profit colleges are more than twice as likely to default on federal loans as their peers at public institutions, according to new data released Monday by the Department of Education that also shows the highest percentage of students ...
UK Bond Yields Fall to Records on Greek Default Speculation; Pound Drops
Bloomberg
By Lukanyo Mnyanda - Mon Sep 12 15:42:14 GMT 2011 UK 10-year bonds jumped, driving yields to an all-time low, as stock-market losses and speculation Germany is preparing for a Greek defaultfueled demand for the perceived safety of government debt. ...
Investors Catch a Case Of Low-Yield Fatigue
Wall Street Journal
By CYNTHIA LIN Treasurys struggled for direction as selling ahead of US government-debt sales was capped by safe-haven buying fueled by the euro zone's credit crisis. The mixed pressure likely sets the tone for the rest of the week. ...
Fitch lowers issuer default rating for USG
Forbes
AP , 09.12.11, 06:56 PM EDT WASHINGTON -- Fitch Ratings said Monday it has lowered its issuer default rating for USG Corp. a notch to "B-" from "B" and retained its negative rating outlook for the building materials manufacturer. ...
Palestinians face fiscal crisis, warns World Bank
Irish Times
PALESTINIANS FACE an “acute financial crisis” due to declining growth and diminishing aid ahead of next week's call for recognition of a state in Palestinian territory occupied by Israel, according to a report published yesterday by the World Bank. ...
Stocks Stage Late Reversal
TheStreet.com
Stocks also got help from the technology sector, although concerns about about a Greek default lingered. After losing as much as 167 points earlier in the session, the Dow Jones Industrial Average turned positive in the final minutes of trading to ...
Greek property tax a band-aid, no long term cure
Reuters
By Dina Kyriakidou ATHENS (Reuters) - A new property tax may pull Greece back from the brink of default by securing desperately needed EU/IMF cash but it also exposes the government's foot-dragging in curing chronic structural ills to exit its debt...
Chile Stocks Close 2.2% Lower On Back Of Greek-Default Fears
Wall Street Journal
By Anthony Esposito Of DOW JONES NEWSWIRES SANTIAGO (Dow Jones)--Chile's blue-chip Ipsa index ended 2.2% lower Monday, bringing the local market into bear market territory, on fears that Greece will need to default on its debt obligations. ...
Greek default fallout fears spark European slump
euronews
European markets slumped for a second day amongst mounting speculation Germany is perparing for Greece to default. French Banks BNP, Societe Gererale and Credit Agricole slild more than nine per cent. Rumours increased Moody's may cut their credit ...
Do you expect Greece to default on its debt?
Wall Street Journal
With its bond yields at absolutely insane levels, an imploding economy, and virtually no desire on the part of German politicians to agree to a permanent bailout, surely only the most deluded Eurocrat could believe that Greece will not default? ...
CANADA STOCKS-TSX slides on Greek-default, growth fears
Reuters
[GOL/] "With the uncertainty especially in Europe at this point, with the Greece situation - will they default, will Moody's come in and downgrade the major French banks? Those are the big questions at this point," said Serge Pepin, head of investments ...
Indian Stocks Decline on Greece Default, Rate Concerns; Tata Motors Drops
Bloomberg
Investors are valuing European banks at levels not seen since the depths of the credit crisis in 2008 as concern over a Greek default and debt contagion escalates. German lawmakers stepped up their criticism of Greece last week, threatening to withhold ...
Wenger: European game will soon be engulfed by the financial crisis
The Independent
"I am convinced that Europe will go into a huge financial crisis within the next three weeks, or three months, and maybe that will put everything into perspective again," he said yesterday. "Football is not untouchable. We live by people going to the ...
EU leaders seek to play down threat of Greek default
Irish Times
EU LEADERS are battling to damp down the threat of a Greek sovereign default amid warnings from the country's embattled government that it will run out of cash next month if it does not receive a new bailout loan. A renewed upsurge of market volatility ...
Gold Advances as Europe's Escalating Debt Contagion Boosts Haven Demand
Bloomberg
Still, “gold should benefit from the scaling back of risk appetite on what appear to be rising fears of a Greek default, contagion to the rest of the periphery, and the impact on banks.” Gold exchange-traded-product holdings rose on Sept. ...
U.S. Stocks Decline as Greek Sovereign Debt Concern Increases
San Francisco Chronicle
12 (Bloomberg) -- US stocks slumped, sending the Standard & Poor's 500 Index lower for a third straight day, as speculation that Germany is preparing for a Greek debt default spurred turmoil in global financial markets. Stocks pared earlier losses as a ...
Swiss Stocks Slide Amid Greek Default Concerns; Insurers and Banks Decline
Bloomberg
By Peter Levring - Mon Sep 12 16:00:48 GMT 2011 Swiss stocks declined for a second day amid speculation that the German government is preparing for Greece to default on its sovereign debt. Zurich Financial Services AG (ZURN), the biggest Swiss insurer, ...
European Contagion Fuels Short ETFs
TheStreet.com
By Glenn Hall 09/12/11 - 04:18 PM EDT NEW YORK (TheStreet) - The twists and turns of Europe's efforts to resolve its mounting debt crisis are creating an unpredictable tug of war between long and short exchange traded funds linked to European markets. ...
Rand Weakens to Month-Low as Greek Default Concern Curbs Appetite for Risk
Bloomberg
By Robert Brand - Mon Sep 12 14:42:16 GMT 2011 The rand fell to its lowest level against the dollar in more than a month as investors shunned riskier, emerging-market assets on concern Greece will default on its debt, dimming global growth prospects. ...
Australian, New Zealand Dollars Drop to 3-Week Low on Greek Default Risk
Bloomberg
(Source: Bloomberg) The Australian dollar dropped to the lowest level in a month against its US counterpart as concern Greece may default encouraged investors to sell higher-yielding assets. The Aussie weakened after Germany's officials said last week ...
Spectre of Greek default continues to stifle world markets
euronews
New York markets felt the force of the speculation that Germany is preparing for a Greek default. Morgan Stanley, the Goldman Sachs Group and JP Morgan Chase and Co. slumped at least one point three per cent following losses in European banks. ...
Business briefs | More default on student loans, department says
Myrtle Beach Sun News
The national two-year cohort default rate rose to 8.8 percent last year, from 7 percent in fiscal 2008, according to figures released Monday by the Department of Education. NEW YORK Food prices could rise next year because an unseasonably hot summer ...
Rupee posts worst daily fall in 15 months; Greek default looms
Economic Times
MUMBAI: The Indian rupee posted its biggest single-day fall in more than 15 months on Monday as heightened fears over a likely Greek debt default triggered a flight to safe-haven dollar, while a slump in July's local industrial output data also weighed ...
Postal Service faces prospect of default
Politico
There's no doubt that Postmaster General Patrick Donahoe, postal workers unions and lawmakers consider the situation a full-blown fiscal crisis; the website for the House Committee on Oversight and Government Reform, chaired by Rep. ...
Market at 2-week closing low on Greek default fears
India Infoline.com
Data showing dismal July 2011 industrial production growth, a setback in global stocks caused by worries the Greek government may default on its debts and reports that Moody's Investors Service may downgrade France's largest banks over their exposure ...
Bovespa Stock Futures Decline on Speculation Greece Will Default on Debt
Bloomberg
The real tumbled to the weakest level since December on concern a possible default from Greece may curb capital inflows to emerging markets. BNP Paribas SA, Societe Generale SA and Credit Agricole SA plunged at least 11 percent in Paris on a possible ...
Angela Merkel's Euro Contagion Band Comes Through In The Last ...
By Tyler Durden
The following picture from William Banzai does a good job of summarizing why today the victory may not have been for the bulls, courtesy of a strategically placed and timed rumor, it surely allowed Angela Merkel's euro contagion band to ...
College loan default rate hits 12-year high | New Mexico Independent
By admin
A metric for gauging the number of college debt holders defaulting on their loans published today by the U.S. Department of Education shows borrowers who went.
New Mexico Independent
Student Loan Default Rates Jump « CBS Sacramento
By Lisa
The latest figures show the percentage of the more than 3.6 million borrowers whose first payments came due in the year starting October 2008 — at the height of the financial crisis — and who defaulted before Sept. 30, 2010. More borrowers ...
CBS Sacramento
Risk of Greek default jumps to 98 percent | GantDaily.com
By AHN
Diane Alter - AHN News Reporter New York, NY, United States (AHN) - The chance the Greece will default on its debts within the next five years has soared to.
GantDaily.com
NewsDaily: Greek default jitters hammer French banks, euro
By Paul Taylor and Lionel Laurent
Growing fears of a Greek default sent a hurricane through heavily exposed French banks on Monday and hit the euro as investor confidence in the European currency area's ability to surmount a sovereign debt crisis ebbed.
NewsDaily: Top Headlines
Default Rates Rise for Federal Student Loans | U.S. Department of ...
The U.S. Department of Education today released the official FY 2009 national student loan cohortdefault rate, which has risen to 8.8 percent, up from 7.0 ...
www.ed.gov/news/press.../default-rates-rise-federal-student-loa...
Student Loan Default Rates Are Higher Than They Appear ...
Specifically, the cohort default rate for borrowers whose first loan repayments came due in the 12 month period starting with October 2008, went up to 8.8 ...
thinkprogress.org/.../student-loan-default-rates-are-higher-than...

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