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

Friday, November 18, 2011

Investors fear contagion in Europe's debt market turmoil

Investors fear contagion in Europe's debt market turmoil
USA Today
"Basically, if you look at any country that is not Germany, the contagion effect is major," said Oscar Moreno of Madrid brokerage house Renta4. Just four days before its general elections, Spain had to pay an interest rate of 6.97% to raise 10-year ...
US Banks Face Contagion Risk From Europe Debt, Fitch Says
BusinessWeek
While US banks have hedged some of their risk with credit-default swaps, those may not be effective if voluntary debt forgiveness becomes “more prevalent” and the insurance provisions of the instruments aren't triggered, Fitch said in the report. ...
Metals prices plunge on worries that European financial crisis could stunt US ...
Washington Post
Metals prices fell sharply Thursday on fears that Europe's spreading financial crisis will slow the fragile US economic recovery. Traders were worried that a spiraling financial crisis in Italy, Spain and France could hurt US banks. ...
TIPS Demand Wanes as Europe's Fiscal Crisis Pares U.S. Inflation Outlook
Bloomberg
TIPS returned 13.68 percent this year, as measured by Bank of America Merrill Lynch indexes, compared with a 8.9 percent gain for the broader Treasury market, the most since the financial crisis in 2008. Federal Open Market Committee participants on ...
Detroit in financial crisis, Mayor Bing says
BBC News
"Simply put, our city is in a financial crisis, and city government is broken. That's not new. That's not an opinion. That is a fact," said Mr Bing. "Let me make one thing perfectly clear: I don't want an emergency manager making decisions for my city. ...
US stocks drop sharply amid eurozone contagion fears
AFP
NEW YORK — US stocks took a sharp plunge Thursday as fears over the contagionin the eurozone crisis trumped some mildly positive data on the US economy. After reaching into positive territory halfway through the session, the Dow Jones Industrial ...
Spanish, French Default Swaps Rise to Records on Bond Auctions
BusinessWeek
17 (Bloomberg) -- The cost of insuring against default on Spanish and French sovereign debt rose to records after the nations' borrowing costs increased at bond auctions today. Credit-default swaps on Spain soared 26 basis points to 496 and France ...
CORRECT: Argentina Stocks Fall On EU Contagion Fears; Merval -4%
Wall Street Journal
(The item, "Argentina Stocks Fall On EU Contagion Fears; Merval -4%," published at 17:10 EST, inaccurately described the peso's performance in the second bullet point and last paragraph. The correct version follows:) By Taos Turner Of DOW JONES ...
Another Fiscal Crisis is Looming
Lynchburg News and Advance
And here we are, days away from the drop-dead deadline, with another fiscal crisis looming on the nation's horizon. When Washington was stalemated over raising the federal debt ceiling, with House Republicans taking the nation to the brink of default ...
Jefferson County Steps Up Municipal-Default Pace, Lehmann Says
BusinessWeek
Reaching into reserves to make bond payments can put the issuer in default of debt covenants. Most of those using the funds have been special taxing units such as development districts set up to support real estate projects in Florida, California and ...
Default, Inflation, the Blooey Factor, and the Rubicon Effect
New York Times (blog)
At the end of the day, default, taxes or seignorage are three ways to pay for the spending governments have already done. They are not that different conceptually. In a closed system there is no way to avoid grabbing resources from your own citizens ...
Contagion becomes infectious
FX-MM
Passengers on a budget flight from Amritsar to Birmingham were hit with an unexpected fuel surcharge when their plane stopped to refuel in Vienna. The carrier, Austria-based Comtel Air, demanded €24000 from the 180 passengers to pay for the kerosene. ...
Banks hide risks of default in Europe
Worcester Telegram
Lloyd C. Blankfein, 57, Goldman Sachs's chairman and chief executive officer, said in an interview with the Financial Crisis Inquiry Commission staff last year that the amount of the firm's derivatives trades shouldn't be a cause for alarm. ...
Asian markets cautious on Europe contagion fears
AFP
Hong Kong fell 0.76 percent, or 143.43 points, to 18817.47, while Shanghai closed 0.16 percent, or 3.91 points, lower at 2463.81 Fitch ratings agency warned that thecontagion effects on US banks were "potentially large" if the crisis spreads beyond ...
Canadian Stocks Fall on Europe Contagion Concern
BusinessWeek
By Matt Walcoff (Corrects name of newsletter in second paragraph after 'Precious-Metals Producers' sub-headline in article that ran Nov. 16.) Nov. 16 (Bloomberg) -- Canadian stocks fell, led by raw- materials producers, after Fitch Ratings said the ...
PRECIOUS-Gold slips to 1-week low on Euro debt contagion fear
Reuters
The cost of insuring French and Spanish 5-year government debt against default rose to record highs and the spread between French 10-year government bonds and their German equivalents jumped to a fresh euro-era high on concerns the debt crisis was ...
UK Sells Northern Rock, Symbol Of Financial Crisis
Wall Street Journal (India)
The sale also highlights how the UK has lagged far behind the US and European countries in shedding its holdings since the financial crisis. The government invested GBP1.4 billion in equity in Northern Rock, but had been resigned to making a loss on ...
What disease and strategic default on mortgages have in common
Baltimore Sun (blog)
A new report conducted for a mortgage-industry trade group likens "strategic default" -- walking away from a mortgage you can afford to pay because you owe more than your house is worth -- to a contagious disease. It's not just the idea that strategic ...
Market day ahead: Contagion fears rattle markets further
Stuff.co.nz
Having chalked up another loss yesterday, the New Zealand sharemarket looks set to close the week out in well into the red, with European debt contagion fears rattling global equity markets. The decline was started when Fitch Ratings dashed hopes that ...
Europe fears contagion in debt market turmoil
Newsday
Click here Europe fears contagion in debt market turmoil Originally published: November 17, 2011 9:13 AM Updated: November 17, 2011 2:36 PM By The Associated Press ALAN CLENDENNING (AP Business Writer) (AP) -- Fear, that contagious emotion, ...
Kiwisaver, Default Provider Fees And Proposals
Scoop.co.nz (press release)
The very low risk investment strategy and the default funds have served KiwiSaver default fund investors well over the last 4 years, the most challenging investment environment in 80 years following the Global Financial Crisis. The current fees charged ...
Eurozone contagion spreading quickly
FXstreet.com
by Mitul Kotecha - Econometer.org | View company's profile Contagion from the eurozone debt crisis is spreading quickly, threatening to turn a regional crisis into a global crisis. As highlighted by Fitch ratings further contagion would pose a risk to ...
TSX hurt by eurozone contagion fears, gold, oil weaker
Proactive Investors USA & Canada
Toronto's main market fell further Thursday as doom and gloom sentiment continued over Europe's debt crisis, with spiking government bond yields in the region sparking fears of contagion, impacting commodities for the worse. In early afternoon trading, ...
'Fallen Angels' Up By Two; Default Tally Rises - S&P
Wall Street Journal
Separately, S&P also said its global corporate default tally for the year increased to 41 after US freight service company Trailer Bridge Inc. (TRBR)filed for bankruptcy. Trailer Bridge is the third company to default twice this year. ...
Gold steady; euro zone contagion fear weighs
Economic Times
SINGAPORE: Gold traded steady on Thursday after a 1 percent drop in the previous session, as markets remain jittery over the euro zone debt crisis while the bloc's political wrangling continues. France and Germany clashed over whether the European ...
Time for European Leaders to Avoid Contagion - European Central Bank to the ...
Equities.com
Without defining it, Fitch used the word “contagion” in its assessment, and they aren't the first to use it. I assume it refers to tumbling dominos with wide spread damage of incalculable magnitude. This decline did some technical damage, ...
Yuan Declines Amid Fitch Warning of European Debt Contagion
BusinessWeek
17 (Bloomberg) -- China's yuan dropped for the first time in three days after Fitch Ratings said Europe's debt crisis may pose a “serious risk” to US banks, fanning fears of contagion and cooling demand for emerging-market assets. ...
Spain on the radar for 'default'
PublicServiceEurope.com
The first being economic in that Spain was firmly in the line of contagion "with very high unemployment and an overinflated real estate bubble". Second, the country faced a political conundrum because it needed to restore credibility to "remain on the ...
Prison Planet.com » The next financial crisis will be hellish, and it's ...
By yihan
We're raising our alert status for the next financial crisis. We already raised it last week after spreads on U.S. credit default swaps started blowing out. We raised it again after seeing the remarks of Mr. Mobius, chief of the $50 billion emerging ...
Prison Planet.com
Are The Conservative Dutch Immune To Contagion? Are You Safe ...
By Reggie Middleton
Yesterday, I showed you that contagion had spread and default probabilities were blowing out right across Europe. Every single name on the list for sovereign credit default wideners was European and names like Austria, Estonia, and ...
ZeroHedge
Jobless Claims Good; Another of PIIGS Heard From - Zacks.com
By Mark Vickery
This 7% figure has been bandied about in recent days, but pertaining to Italy, not Spain. So the contagion is clearly far from contained, at least within the PIIGS of the Euro-zone. Can we expect to hear from Portugal before the week is out, ...
Zacks Investment Research - All...
OCCUPY NOTE 11/17/11 Contagion #ows - Global Guerrillas
By John Robb
This contagion has the potential to create a financial panic that puts leveraged/insolvent US banks into jeopardy (again). Another global financial crisis, potentially even bigger than the last one, could turn Occupy into a global force strong ...
Global Guerrillas
East of Center » Blog Archive » On Debt Default Doomsday ...
By S. Adam Cardais
Drawing on extensive economic and survey data, “Crisis and Transition: The People's Perspective” analyzes the economic and political ramifications of the 2008-2010 financial crisis from the standpoint of households and individuals in post- Communist Europe, Central Asia and Turkey. Critically ... Should Italy and other PIIGS default, Roubini added, the subsequent “disorderly eurozone breakup would be as severe a shock as the collapse of Lehman Brothers in 2008, if not worse.” ...
East of Center
EU debt crisis: Contagion laps at Spain's shores | Investing ...
Greeks protest as contagion spreads to Spain, France · Rio Tinto boosts Hathor takeover bid ....While the stresses are not yet at the levels during the 2008 financial crisis, they have continued to mount despite ECB moves to provide unlimited liquidity to banks. Fitch Ratings warned it might ...Thomson Reuters 2011. Posted in: Economy, Investing Tags: bonds, Brussels, default, ECB, EU debt crisis, euro, eurozone debt crisis, France, Germany, Greece, IMF, Italy, sovereign debt, Spain...
FP Top Stories List
WRAPUP 5-Spanish, French borrowing costs raise contagion ... - XE
Many analysts believe the only way to stem the contagion for now is for the ECB to buy up large quantities of bonds, effectively the sort of 'quantitative easing' undertaken by the U.S. and British central banks. France and Germany have stepped up their war of words over ... While the stresses are not yet at the levels of the 2008 financial crisis, they have continued to mount despite ECB moves to provide unlimited liquidity to banks. Fitch Ratings warned it might lower its 'stable' rating ...
XE Forex News
WRAPUP 5-Spanish, French borrowing costs raise contagion alarm ...
WRAPUP 5-Spanish, French borrowing costs raise contagion alarm. Share. From: Reuters: Bonds News. 9:25am - November 17, 2011. MADRID/PARIS, Nov 17 (Reuters) - Spain and France faced sharply higher borrowing costs on Thursday, ...
eWallstreeter
Causality and contagion in peripheral EMU public debt markets: a ...
By repec
In the second step, we study the determinants of these contagion episodes, analyzing the role played by different factors, paying special attention to instruments that capture the total national debt (domestic and foreign) in each country. Read Full : ... Fiscal Sustainability, Default Risk and Euro Area Sovereign Bond Spreads Markets ... We discuss the origins of the Greek financial crisis as manifested in the growing fiscal and current-account deficits since euro-area entry in 2001. We then...
PoliEcon
SteveLendmanBlog: Deepening Debt Contagion
By Steve Lendman
Deepening Debt Contagion - by Stephen Lendman. With pressure building on Europe and America, something's got to give. Progressive Radio News Hour regular Bob Chapman says Germany's Angela Merkel and France's Nicolas Sarkozy ...
SteveLendmanBlog
Schaeuble:Signs Of Contagion From Debt Crisis To Real Economy ...
BERLIN (MNI) - Germany's Finance Minister Wolfgang Schaeuble warned on Thursday of the risk of contagion to the real economy from the Eurozone debt.
ForexLive
World stocks pressured by debt contagion fears
By pictures
last updated 17 Nov 2011 - World stocks pressured by debt contagion fears on Pluz Media, LONDON (Reuters) - World stocks dipped to a one-wee.
Pluz Media
Did Bonuses Really Cause the Financial Crisis? - US Business Blog ...
Did the bonus system on Wall Street cause the financial crisis? Are bonuses still putting our financial system at risk?
www.cnbc.com/.../Did_Bonuses_Really_Cause_the_Financial_...

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