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

Thursday, October 13, 2011

European Contagion Shows In Inversion Of US Financials' CDSs

European Contagion Shows In Inversion Of US Financials' CDSs
Wall Street Journal
This price inversion had been seen before, but changes in the swap market after the 2008 financial crisis were supposed to have made it less extreme. Since Friday, CDS costs on the affected firms have come down, but the CDS price swings show how ...
Greece's Credit-Default Swaps May Pay Out If the Agreed Losses Exceed 21%
Bloomberg
Photographer: Jock Fistick/Bloomberg Credit-default swaps insuring Greek government debt may pay out should proposals to increase losses on the bonds exceed the 21 percent already agreed, according to analysts. Deeper cuts would likely have to be ...
European Debt Default Insurance Costs Mixed
Wall Street Journal
By Sarka Halas Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The cost of insuring European corporate and government debt against default was mixed Wednesday as Slovakia's vote against changes to the European Financial Stability Facility damped the ...
Bonds weaken as Greek default fears ease
Sydney Morning Herald
The Australian bond market opened weaker amid hopes Greece will not default on its debt repayments. At 0830 AEDT on Thursday, the December 10-year bond futures contract was trading at 95.550 (implying a yield of 4.450 per cent), down from 95.660 (4.440 ...
Norway Banks Form First Defense in Credit Crisis, Johnsen Says
BusinessWeek
Concerns over a potential default by Greece and contagion in other debt-ridden nations have helped push the 46-company Bloomberg Europe Banks and Financial Services Index down 26 percent this year. DnB has slumped 24 percent and the Norwegian ...
As Greece Avoids a Default, Recapitalization Plans Emerge for European Banks
New York Times
By STEPHEN CASTLE and NIKI KITSANTONIS BRUSSELS — Far-reaching efforts to strengthen European banks began to take shape Tuesday just as Greece cleared a major hurdle that would allow it to avoid a disorderly default on its debt. ...
Default Swaps Punish Westfield Most Since 2009: Australia Credit
BusinessWeek
Credit-default swaps on Sydney-based Westfield's debt climbed 264 basis points this half to 388 basis points on Oct. 5, the highest since May 2009 and the most expensive relative to Australia's benchmark corporate bond-risk index in more than two years ...
A Greek Default on the Cards but the Banks Aren't Listening
Huffington Post (blog)
The markets expect a Greek default and time is running out. However, banks still haven't recognized enough of this loss, highlighting the pent-up risk in the sector. Deep-seated skepticism continues to drive market volatility and this will continue ...
ECB's Trichet Says Greece Should Be Able to Avoid Default
Bloomberg
By Jana Randow - Wed Oct 12 08:08:52 GMT 2011 European Central Bank President Jean-Claude Trichet said Greece should be able to avoid default. “A very large adjustment is necessary in Greece to correct the errors of the past in the greater interests of ...
EU Said to Seek 9% Bank Capital in Response to Fiscal Crisis
BusinessWeek
“The sovereign contagion and the banks are now, whether we like it or not, linked.” He said banks that can't satisfy the new capital thresholds should be banned from paying bonuses and dividends. The EU's move comes after stress tests on its banks ...
Morgan Stanley Credit Risk Plunges as Optimism Grows on Europe
BusinessWeek
Oct. 12 (Bloomberg) -- The cost of protecting against losses on Morgan Stanley debt plunged to the lowest level in three weeks as European leaders signaled progress in halting the region's sovereignfiscal crisis. Credit-default swaps on Morgan Stanley ...
MBA chief economist: Greek default may mean US recession
Housing Wire
by JON PRIOR Mortgage Bankers Association Chief Economist Jay Brinkmann said the stronger European countries such as Germany were unlikely to provide any more assistance for Greece, which would force it to default on its sovereign debt. ...
EU Seeks Higher Bank Capital, Greek Payout in Bid to Halt Financial Crisis
Bloomberg
An Oct. 23 summit of euro leaders looms as a deadline for a breakthrough in combating the crisis, which has driven Greece toward default, rattled world markets and dented confidence in the survival of the 17-nation currency. ...
China: Small Enterprises' Credit Crisis under Control
CRIENGLISH.com
Evening lights shining from surrounding factories shatter the dark silence dominating buildings owned by the Zhengdeli Shoes Company. Piles of unfinished shoes sit the company's warehouse and workshops. A few security guards stand by a gate where ...
EU leaders must put aside divisions to avoid contagion, says Barroso
Irish Times
According to European officials, Germany continues to urge a “haircut” of about 50 per cent, but others, led by France and the European Central Bank, are resisting any move that could be considered a “credit event” – an explicit default that would ...
Oil shows largest drop since 2008 financial crisis
The Citizen Daily
Oil may fall this week on concern that Europe's economy is showing signs of a slowdown as governments struggle to contain their fiscal crisis and avert a Greek default, according to a Bloomberg News survey. Thirteen of 28 analysts, or 46 per cent, ...
Middle East has emerged stronger from financial crisis, regional turmoil
gulfnews.com
By Babu Das Augustine, Deputy Business Editor Dubai: Private equity industry in the Middle East and North Africa (Mena) has emerged stronger from the global financial crisis and the recent political turmoil in the region, according to a recent survey ...
Reckless Government Policies, Not Private Greed Caused the Housing Bubble and ...
Wall Street Pit
The narrative that came out of these events—largely propagated by government officials and accepted by a credulous media—was that the private sector's greed and risk-taking caused the financial crisis and the government's policies were not ...
Good EU Credit Crisis News Should Trigger A Rally For These Coal Stocks
Seeking Alpha
This all seems to mean that the US economy is healthier than the EU credit crisis bears have been saying. It means that China is not in as bad shape as those same bears have been saying. If the US is healthier, China's biggest market is healthier. ...
Moody's Analytics Launches Moody's CreditView: An Innovative Solution for ...
MarketWatch (press release)
Monthly default reports from Moody's Analytics, built on default and credit quality statistics, at the industry and regional level. At launch, Moody's CreditView covers the corporate finance, financial institutions, insurance and sovereign sectors. ...
Greece Bailout: Latest Eurozone Move Not Enough to End Crisis
International Business Times
Nonetheless, talk will not go away concerning the possible need to protect banks against an eventual Greek default. The Greek draft budget for 2012, presented in early October, also did not help matters. It projects the deficit to remain at 8.5 percent ...
OECD Gurria: Greece Needs To Be Ring-Fenced To Avoid Contagion
Fox Business
By William Horobin PARIS -(Dow Jones)- A comprehensive crisis solution proposed recently by Germany and France needs to ring-fence Greece to avoid contagion and shore up banks because stress tests conducted earlier this year are losing their ...
Revisiting The PIIGS: Victims Or Perpetrators?
Seeking Alpha
Apart from the Greek and Portuguese public finance situation, capital inflows stopped as a result of the financial crisis, in which a flight to safety became paramount. So yes, the PIIGS are as much victim as perpetrator, and now rather than capital ...
ECB Update:Trichet Warns Against Default,Bigger Haircut Looms ...
FRANKFURT (MNI) - European Central Bank President Jean-Claude Trichet warned governments against risking a Greek default as another Council member.
ForexLive
Risk of Contagion in the Global Financial System Rising Rapidly ...
By Editor
Even France, with its S&P AAA rating, is now rated more likely to default than Brazil! [In addition, the U.S. is facing the liklihood of a fiscal policy impasse in Congress that could well lead to a recession. As such, as we see it, the risk of contagion ...
MunKnee.com
Indonesia's banks can withstand the global financial crisis, says ...
By Randall Mah
High profitability and strong prospects for growth make Indonesia's banks well-positioned to survive the shocks of the global economic downturn. Ge.
Emerging Money
The Ideological Roots Of The Global Financial Crisis: Lessons For ...
By Norman Girvan
There is general consensus that the current global financial crisis, which originated in the USA, is the most devastating since the Great Depression of the 1930's. Martin Wolf described the unfolding events as the “disintegration of the financial ...
Norman Girvan
XE.com - ECB's Trichet: Greece can avoid default
Greece can avoid bankruptcy if it and European governments stick to their agreements to cut its debt levels, European Central Bank President Jean-Claude Trichet said on Wednesday.
XE Forex News
China is the next place to watch for a financial crisis after the ...
By Peter Cooper
China is the next place to watch for a financial crisis after the eurozone. Posted on 12 October 2011 with no comments from readers. Jim Chanos, the hedge fund billionaire who bet against US subprime loans has been warning on China for a ...
ArabianMoney
Jubilee 2012? – my interview on salon.com « Debtonation: The ...
By Georgia Lee
Debtonation: The Global Financial Crisis .... There was not a single international financial crisis between 1945 and 1971 according to the great historian of the financial system, Barry Eichengreen. And similarly, Americans were not burdened ...
Debtonation: The Global Financial Crisis
Gingrich: Media Blaming Business Community for Financial Crisis ...
Gingrich: Media Blaming Business Community for Financial Crisis Should Go After .... The financial/mortgage/credit crisis was a perfect storm of a number of ...
newsbusters.org/.../gingrich-media-blaming-business-commun...
Worst global financial crisis EVER looms, Bank of England governor ...
"This is the most serious financial crisis we've seen, at least since the 1930s, if not ... economy in a last-ditch effort to stave off a new credit crisis and recession. ...
www.catholic.org/international/international_story.php?id...
EU Determined To Avoid Greek Default -- Juncker | Fox Business
SAN FRANCISCO -- Members of the euro zone will do everything to avoid a Greek debt default, Jean-Claude Juncker, prime minister of Luxembourg and ...
www.foxbusiness.com/.../eu-determined-to-avoid-greek-defau...

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