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

Tuesday, November 1, 2011

Italian Bonds Slide on Contagion Concern; German Bunds Advance

Italian Bonds Slide on Contagion Concern; German Bunds Advance
Bloomberg
They are saying the market still sees scope for bailout contagion and Italy is the next” in line. The five-year Italian yield rose 16 basis points, or 0.16 percentage point, to 5.91 percent at 4:04 pm London time after climbing to 5.99 percent, ...
S&P, Fitch Slash MF Global Ratings To Default
Wall Street Journal
Standard & Poor's Ratings Services and Fitch Ratings slashed their ratings on MF Global Holdings Ltd. (MF) to default following the broker-dealer's filing for bankruptcy protection. The company, run by former New Jersey Gov. ...
Cheniere's BG Agreement May Not Prevent Default, S&P Says
BusinessWeek
By Joe Carroll Oct. 31 (Bloomberg) -- Cheniere Energy Inc.'s 20-year contract to sell natural gas to a UK energy company probably won't stave off a cash crunch that threatens to trigger a default on debt maturing in May, Standard & Poor's said. ...
Financial crisis spurs bank complaints
Stuff.co.nz
The continuing high level of complaints was a sign that the effects of the global financial crisis were still being felt, she said. The main issues during the year were hardship-related, mortgage and loan defaults, and investment. ...
Why I Am Against Naked Credit Default Swaps
Seeking Alpha
Those who argue in favor of “naked CDS” (credit default swaps) say it will increase the liquidity of the market. This argument is valid. In a sense, naked CDS is like short selling. Short sales allow those who believe a security is to fall in price ...
The Real Cost of the Financial Crisis
Huffington Post
With an historically high un- and under-employment rate created by the financial crisis, it is not difficult for many people and families to find themselves in a downward spiral that too often ends in losing their homes. That's why we have historically ...
BOE Silence on Credit-Crisis Talks 'Unsatisfactory,' Tyrie Says
BusinessWeek
By Svenja O'Donnell Oct. 31 (Bloomberg) -- The Bank of England governing board's refusal to disclose its discussions during the financial crisis was “unsatisfactory” and prevented Parliament from holding the bank to account, Treasury Committee Chairman ...
Fitch: 'The Credit Crisis Four Years On': No Significant Impact in Latin America
MarketWatch (press release)
CHICAGO, Oct 31, 2011 (BUSINESS WIRE) -- In a newly published report, Fitch Ratings notes that the global credit crisis has had minimal impact in Latin America when compared to the US and Europe. Similar to the general economic impact in the region, ...
Greece's perilous position should not be casually glossed over
The Guardian
It's a seductive idea that default can save us. But exiting the euro would almost surely have catastrophic consequences for Greeks This article was published onguardian.co.uk at 18.30 GMT on Monday 31 October 2011 . Demonstrators in front of the Greek ...
Bond Risk Increases as Doubts Mount Over European Rescue Plan
BusinessWeek
By David Goodman Oct. 31 (Bloomberg) -- The cost of insuring against default on corporate and sovereign debt rose in Europe as confidence in the region's rescue plan waned. The Markit iTraxx Crossover Index of credit-default swaps on 50 companies with ...
Greek referendum could mean CDS Greek default trigger
Credit Writedowns
At that point the questions would go to contagion. Italy's re-coupling to the periphery is well-advanced, making it now the focal point of the sovereign debt crisis. Meanwhile, the euro zone has probably already started a double dip recession which ...
Winners and losers from the financial crisis
Washington Post (blog)
Can a global financial crisis really have winners and losers? Sure, say Ignacio Munyo and Ernesto Talvi of the Center for the Study of Economic and Social Affairs. Even as Europe and the United States keep limping along, a number of countries are now ...
Financial crisis affects Armenia - government
Information-Analytic Agency NEWS.am
World financial crisis influenced also on Armenia's economy, making to change the policy, Armenian Minister of Economy Tigran Davtyan stated at the first economic forum of the ruling Republican Party, spokesperson of the Minister Suzanna Hayrapetyan ...
Overstock.com Nears Default While Utah Media Sleep
Seeking Alpha
The always-intriguing story of Overstock.com (OSTK) ratcheted up a notch on Monday, as word emerged on Sam Antar's blog that Overstock is on the verge of violating its debt covenants and is therefore close to default. This devastating news was buried ...
Fitch Declares Greece Deal a Default
Proformative
Those hopes were put on hold for a time on Friday when Fitch Ratings declared that it would consider the plan a default on the part of Greece, according to The Wall Street Journal. The new plan calls for banks holding Greek bonds to accept a 50 percent ...
Cheat Sheet: What's Happened to the Big Players in the Financial Crisis
Credit.com News (blog)
by Credit.com on 10/31/2011 By Braden Goyette, ProPublica, Oct. 26, 2011, 2:56 pm Widespread demonstrations in support of Occupy Wall Street have put the financial crisis back into the national spotlight lately. So here's a quick refresher on what's ...
S&P, Fitch slash MF Global ratings to default
MarketWatch
By Joan E. Solsman Standard & Poor's Ratings Services and Fitch Ratings slashed their ratings on MF Global Holdings Ltd. /quotes/zigman/581106/quotes/nls/mf MF -16.08% to default following the broker-dealer's filing for bankruptcy protection. ...
Abolish Credit Defaut Swaps
Huffington Post
You may recall that credit default swaps were the prime instrument in the nearly $200 billion collapse of AIG, which had to be bailed out by the US government. AIG, the world's largest insurance company, in effect wrote insurance against sub-prime ...
Basel capital standards reduce risk of financial crisis
Philippine Star
MANILA, Philippines - The Financial Stability Board (FSB) and Basel Committee on Banking Supervision (BCBS) have released an assessment of the macroeconomic costs and benefits of proposals for higher loss absorbency for global systemically important ...
Greek vote set to sink euro bailout: Shock referendum could see cuts rejected
Daily Mail
A repeat of the financial crisis of 2007-09 could wipe 5 per cent off the GDPs of major economies by the first half of 2013, said OECD secretary general Angel Gurria. Mr Gurría urged Britain to hold its nerve and stick to austerity measures set out in ...
Global depression and sovereign default are top of risk list
Hedge Funds Review Magazine
Economic depression is the top global economic risk followed by the risk of sovereigndefault and the threat of hyperinflation, according to Towers Watson's ranking of the top 15 extreme risks. Economic depression remains the leading global economic ...
Reflections on Iceland and the financial crisis - Part 4
Opinion250 News (blog)
Using "weapons of financial mass destruction" such as Credit Default Swaps, they ganged up and tried to "short" the Icelandic banks and currency, betting that these would crash. As Asgeir Jonsson points out, "hedge funds, like wolves, hunt for yield in...
Eurozone Contagion…I mean “Bailout”: Shell Game Continues ...
By platoplubius
I emphasize, “calling on the United States and other G20 powers to help contain the fallout“ Did they just liken this to “nuclear fallout”? I guess that would fit, that or a deadly outbreak or contagion, right?! Fitting indeed. or Zombie Apocalypse? ...
The Burning Platform
What Has Really Happened to Euro Debt Insurance? | Morss Global ...
By Elliott Morss
It appears that a lot of insurance in the form of credit default swaps (CDS) was written. Back in 2010, the ... “A credit event may reveal unexpected counterparty risks if sellers of default protection cannot live up to commitments.” Well, we have ...
Morss Global Finance

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