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

Friday, September 9, 2011

Greek Credit Swaps signal Default

Greek Credit Swaps Surge to Record, Signal 91% Chance Nation Will Default
Bloomberg
Photographer: Kostas Tsironis/Bloomberg Credit-default swaps on Greek government debt surged to a record, signaling a 91 percent chance the nation will fail to meet debt commitments, after its economy shrank more than previously reported. ...
Guest Contribution: G-7 Faces Three-Front Battle Against Contagion
Wall Street Journal (blog)
And, the cost of insuring against the default of financials spiked to a record high in recent weeks, as evident in 5-year credit default swap indices. Spreads have improved at times, on the back of encouraging news such as the German Constitutional ...
S&P: 2011 Corporate Default Tally Rises By 2 To 28
Wall Street Journal
S&P said it expects the US corporate trailing 12-month speculative-grade default rate to decline to 1.6% by June 2012, which would mean a total of 25 issuers would default from July 2011 to June 2012. The firm said improved "lending conditions and ...
Zingales: How a Debt Exchange Could Ease Europe's Crisis
Bloomberg
If all parties expect a sovereign borrower to be able to pay, the market will refinance that creditor at low rates, ensuring it won't default. Conversely, if lenders expect a default, it will happen. The enormous volatility we are witnessing is the ...
US Postal Service Faces Possible Default
WVNS-TV
By Whitney Burdette Just a few weeks after the federal government avoided default, the US Postal Service is now at risk for defaulting on a $5 million payment to the federal retirement system. Postmaster General Patrick Donahoe told the Senate ...
Turchansky: Financial crisis makes couples think twice about divorce
Edmonton Journal
By Ray Turchansky, edmontonjournal.com September 8, 2011 5:43 PM EDMONTON - Ah, there's nothing like a global financial crisis to change the behaviour of people. The latest slowdown has caused Canadians to spend less on auto repairs. ...
Euro banks not yet in crisis, but Greek default looms
Financial Post (blog)
European banks have held up well so far in the face of the sovereign debt crisis but there are increasing fears of a Greek default and the elevated risks to bank solvency that entails, Avery Shenfeld, chief economist with CIBC World Markets, ...
9/11: How Osama bin Laden caused our banking meltdown and financial crisis
Telegraph.co.uk
When historians look back on the financial and economic turbulence of our times, they will date it not from the start of the banking crisis in 2007, but to the bursting of the technology bubble at the turn of the century, or perhaps even earlier to the ...
Sovereign, Corporate Credit-Default Swap Indexes Fall in Europe
Bloomberg
By Abigail Moses - Thu Sep 08 07:42:33 GMT 2011 The cost of insuring against default on European sovereign and corporate debt fell, according to traders of credit-default swaps. The Markit iTraxx SovX Western Europe Index of swaps on 15 governments ...
Moody's: Global Junk Default Rate Edges Down To 1.8% In August
Wall Street Journal
The global default rate among junk-rated entities ticked lower in August, according to a monthly report from Moody's Investors Service that also forecast the rate of defaults remaining low in the coming year. For its August reading, Moody's global ...
Eric Cantor Meets Contagion; or, Plague is a Six Letter Word for Fiscal ...
Huffington Post (satire) (blog)
So, the synopsis of Contagion goes like this. The story follows the "rapid progress of a lethal airborne virus that kills within days. As the fast-moving epidemic grows, the worldwide medical community races to find a cure and control the panic that ...
Turkish Government Ignores Property Lawsuit, Court Enters Default
Armenian Weekly
LOS ANGELES—The Turkish government is now in default after ignoring a lawsuit brought against it and two Turkish banks over reparations for land in southern Turkey seized from Armenians during the Armenian Genocide (Alex Bakalian et. al vs. ...
Greek Default Would Cause' Monstrous' Run on Banks, Mundell Says
Bloomberg
By Edith Balazs - Thu Sep 08 13:44:54 GMT 2011 Nobel-prize winning economist Robert Mundell, whose research contributed to creation of the euro, said a Greek default would trigger a run on banks of “monstrous proportions.” “This risk means that issues ...
Graham Center to host discussion on financial crisis
The Independent Florida Alligator
Angelides is the chairman of the Financial Crisis Inquiry Commission, a group of experts commissioned to study the causes of the current financial crisis. The discussion, titled "On the Abyss?", is the first in the fall 2011 lineup for the Bob Graham ...
Prof. Tsiddon: Financial crisis to end in 2014
Ynetnews
Professor Danny Tsiddon, head of capital markets at Bank Leumi, believes that the economic crisis will end in 2014. "According to the economics text books, the recovery from the 2007 crisis was supposed to take seven years, which is encouraging because ...
My Big, Fat, Greek Default › 2.0: The Blogmocracy
By Iron Fist
Credit-default swaps on Greek government debt surged to a record, signaling a 91 percent chance the nation will fail to meet debt commitments, after its economy shrank more than previously reported. Five-year contracts on the country's ...
2.0: The Blogmocracy
Lego explains the European Monetary Union financial crisis - Holy ...
Lego explains the European Monetary Union financial crisis. Posted Sep 7th, 2011 at 5:40 PM and seen. times. Tweet · Media_httpblogsreuter_agfdg. Things haven't been going so well for our not-so-old buddy the euro or the countries that ...
Holy Kaw!
Stock Market Reaction to the Global Financial Crisis: testing for the ...
We analyse with an event study approach the stock market reaction to Lehman Brothers' ling for chapter 11. Our inquiry on abnormal returns of about 2700 stocks around the event date documents that RiskMetrics-KLD corporate governance ...
PoliEcon
Greek Credit Swaps Signal 91% Chance of Default « New Media Blog
By Lucianne.com
Greek Credit Swaps Signal 91% Chance of Default. Bloomberg News, by Abigail Moses Posted By: Photoonist- Thu, 08 Sep 2011 19:32:00 GMT London ' Credit'default swaps on Greek government debt surged to a record, signaling a 91 ...
New Media Blog
G-7 Faces Three-Front Battle Against Contagion | Atlantic Council
By Julie Chon
After a few global gatherings when the economic outlook appeared more promising in 2009 and 2010, the G7 agenda is back to battling contagion — negative spillovers from one financial institution, market or country to another. Recent volatility stemming ... The spread between Greek and German 2-year bond yields soared to 246 bps and the cost of insuring against the default of Western European sovereign bonds exploded to a record high in recent weeks. In most G7 countries, the ...
New Atlanticist
Some Dutch courage in disciplining the PIIGS « Charles Rowley's Blog
By charlesrowley
Some Dutch courage in disciplining the PIIGS. By charlesrowley. “The European Union should appoint a new budget tsar with eurozone tax and spend powers who could ultimately adjudicate whether countries should be kicked out of the ...
Charles Rowley's Blog
The risk of default in the Eurozone: New analysis of fiscal space ...
We find that risk of default in the five Eurozone-periphery countries appeared to be: ... In particular, possible default implies that the payoff to creditors is weakly ...
www.voxeu.org/index.php?q=node/6954

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