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

Friday, November 25, 2011

Euro vulnerable as contagion fears grow

FOREX-Euro vulnerable as contagion fears grow
Reuters
By Jessica Mortimer LONDON, Nov 24 (Reuters) - The euro recovered from steep falls against the dollar on Thursday as market participants took profit on short positions, but more weakness was expected as investors fretted the euro zone crisis was ...

johnmpoole.com: Eurocontagion: caveat emptor!: "How safe are the euros in your pocket or bank account?"
Measuring Financial Contagion
New York Times (blog)
Knowing this, many people who want bailouts on generous terms use “contagion fear” as part of their sales pitch. How are we to know if a particular event, like deciding not to bail out a big bank, will lead to contagion that spreads to other financial ...
Financial crisis - Anti-austerity general strike paralyses Portugal
France 24
Financial crisis - Public services across Portugal ground to a halt on Thursday as trade unions held a 24-hour walk out. The strikers are protesting against a raft of austerity measures introduced by the government in exchange for financial aid. ...
Turkish Five-Year Credit Default Swaps Trade Near Two-Year High
BusinessWeek
24 (Bloomberg) -- The cost of protection against Turkish default traded near a more than two-year high after Fitch Ratings cut the outlook on Turkey's default risk to “stable” from “positive” yesterday. Five-year Turkish credit-default swaps rose to ...
Learning to spell contagion
gulfnews.com
In a definitive work on economic crises by Professors Ken Rogoff and Carmen Reinhart called This Time is Different, they argue anytime a country's debt to GDP ratio breaches the 80-90 per cent threshold, historically, default and restructuring has ...
Lipstick on PIIGS: 'Germans fed up with Eurobondage'
RT
European Commission president Jose Manuel Barroso and German Chancellor Angela Merkel look set for a bust up. The unelected Brussels bureaucrat wants to issue bonds to pull his single currency project out of the debt hole it's in. ...
Exposing Italy's default lines
Business Spectator
Most nations' sovereign debt can be insured with contracts know as credit-default swaps. These contracts oblige the issuer of the CDS (often a bank) to buy the defaulted bond at a predetermined price (usually face value) – the name comes from the fact ...
Contagion spreads to Germany
FX-MM
A disappointing bond auction yesterday in Germany was a reminder to everyone of seriousness of contagion across the Eurozone. The reason for concern is if the core is being hit then there is no safe haven in Europe any longer. ...
Could next Asian financial crisis be around the corner?
Moneyweb.co.za
The Beijing government would have us believe that business has been a little tougher of late, but that a gentle slowdown in China is actually a good tonic to keep the world's second-largest economy healthy. Instead of hitting close to double-digit ...
The uprising contagion reaches at the door of Saudi Arabia
allvoices
The contagion initially reached the country in March this year after Ben Ali of Tunisia and Hosni Mubarak of Egypt were ousted owing to people's protests against them. King Abdullah, however, managed to survive and stem the uprising by offering ...
Politics and the EU financial crisis
EUobserver.com (blog)
Finance has not killed politics—if anything, the ongoing financial crisis is lading to a reawakening of politics on a scale we have not seen in many years, particularly a re-awakening amongst young people. If the young are out on the streets ...
The contagion effect: how much will Australian banks be buffeted by Europe?
The Conversation
Even though Australia's four major banks are among only nine banks in the world that have AA ratings, when you get into a situation of general uncertainty, as you saw during the global financial crisis, markets just dry up. Investors aren't confident ...
EU Contagion Spreading to Germany; French and Italian Debt Auctions Next Week
Action Forex
On Wednesday, Germany was only able to sell about 2/3 of the EUR 6 bio in 10-year government bonds on offer, making it the sixth of the last eight bund auctions that went undersubscribed. But the amount left on hold was the highest proportion of unsold ...
Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show
Bloomberg
By Michael Shanahan - Thu Nov 24 08:04:58 GMT 2011 The cost of insuring against default on European corporate debt fell, according to traders of credit- default swaps. Contracts on the Markit iTraxx Crossover Index of 50 companies with mostly ...
JGBs Fall As German Auction Raises Contagion Fears
NASDAQ
At the height of the 2008 US financial crisis, preference for liquidity triggered a shift of investment to short-term notes from long-term JGBs. On Thursday, however, selling was more broad-based and hit all maturities, indicating that investors were ...
President Gbeho Urges Vigilance, Prudence Against Financial Crisis (ECOWAS)
AllAfrica.com
Abuja — The President of the ECOWAS Commission, His Excellency James Victor Gbeho, has called for vigilance and prudence to shield the region from the adverse effects of the finance crisis rocking some developed countries. Opening the four-day 10th ...
Forget Fiscal Contagion; Expats Need to Find Safe Home Abroad
Shelter Offshore
The remit for the research was to look through the contagion of collapse, and find nations that still offer expats a secure financial future. However, from everything I've read I feel very strongly that expats need to forget about fiscal contamination ...
French Connection Hurts Corporate Bonds
Wall Street Journal
Contagion is now spreading to a key source of funding for French companies. As French sovereign-bond yields have risen—with 10-year spreads peaking last week at two percentage points over German bunds—French credits have increasingly underperformed ...
Fear of debt contagion lessens as emerging stocks rise
Knowledge to Action
Individuals interested in learning how to trade have seen the troubled European market impact on global share prices in recent weeks, but this morning emerging market stocks rose, arresting the longest fall since 2009. Speculation that China will ease ...
European Sovereign Debt Insurance Costs Mostly Rise
NASDAQ
LONDON -- The cost of insuring European sovereign debt against default mostly rose in early trading Thursday as Spain and Belgium both pushed to fresh records amid concerns that the euro-zone debt crisis is infecting the core economies. ...
Part VI -The Dominant Causes of the Credit Crisis. World growth trends from ...
Gold Seek
By David Collett Since the roaring 1950's and 1960's, the world's economic growth has trended downwards over the subsequent four decades. In the last decade, this downward trend is even more pronounced for advanced economies, which include most ...
Sovereign debt, government myopia, and the financial sector | vox ...
This column argues that myopic governments seeking popularity do not default when they are poor because they would lose access to debt markets and be forced to reduce spending. And they do not default when rich because of the adverse ...
VoxEU.org: Recent Articles
The Financial Crisis Continues as a Crisis of State Debt: The ...
(an audio-document of this lecture & discussion will be available soon). In the fifth year of the global financial crisis, the average person is still looking for a job or worried about losing one, and fears for what little savings he or she might have. ...
Mostly Water
Contagion seeps into once untouchable Germany | Investing ...
German immunity to debt contagion vanished Wednesday as the country was rebuffed by capital markets, a new indication the crisis has seeped into Europe's core.
FP Top Stories List
Central Region moving out of financial crisis to economic recovery ...
By ekow
Mrs. Ama Benyiwa-Doe, Central Regional Minister, on Wednesday said the region was gradually moving out of the shadow of financial crisis and heading for economic recovery. She called on Metropolitan, Municipal and District Assemblies ...
Ghana Business News
XE.com - Brazil's Lupatech shares dive on default concern
Shares of Lupatech extended their plunge on Thursday as investor doubts mounted that a refinancing plan could help one of Brazil's biggest oil industry suppliers avoid defaulting on $275 million of perpetual bonds.
XE Forex News
Politics and the EU financial crisis « Political Economy 101
By George Irvin
George Irvin is a retired professor of economics and for many years was at ISS in The Hague. He is now (honorary) Professorial Research Fellow in Development Studies at the University of London, SOAS. This blog covers contemporary ...
Political Economy 101
The Greek Entrepreneurs Fighting the Financial Crisis | Silicon Allee
By Guest Blogger
'The European Financial Crisis Turns Ugly', 'Worst Crisis Since the '30s”, 'Europe Financial Crisis Deepens as Greek Government Teeters'. Let's face it, in this era of globalization the economic landscape has taken a turn for the worse. ...
Silicon Allee
Lipstick on PIIGS: Germans Fed-Up With Eurobondage « SGTreport ...
By SJB
Lipstick on PIIGS: Germans Fed-Up With Eurobondage. European Commission president Jose Manuel Barroso and German Chancellor Angela Merkel look set for a bust up. The unelected Brussels bureaucrat wants to issue bonds to pull his ...
SGTreport.com
Could carbon accounting offer a solution to the financial crisis ...
By Dave Knight
I was speaking to a friend Tim Harford, 'The Undercover Economist' writer, columnist and presenter, the other day. He said most economists had been taken by surprise by the repeating financial crisis. Watching the events of the last six months ...
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