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

Friday, November 11, 2011

Watching Europe's financial crisis from afar, and hoping

Watching Europe's financial crisis from afar, and hoping
Atlanta Journal Constitution (blog)
And if it all blows up, the consequences could be global, potentially reigniting a financial crisis on the scale of the 2008 meltdown. All around us, it seems, economic events that five years ago would have been dismissed as inconceivable are occurring ...
Foreclosures Up in October, but Default Notices Drop in Nevada
Wall Street Journal (blog)
As we noted on Monday, default notices plunged in Nevada after a new state law took effect last month requiring tougher penalties for submitting documents that falsely recorded title transfers. The RealtyTrac figures said default notices, ...
EU Contagion and VIX Trade
TheStreet.com
The word "contagion" has been frequently used to describe the possible scenario of a series of defaults by the PIIGS (Portugal, Ireland, Italy, Greece and Spain), with Greece generally acknowledged as the most likely domino to topple. ...
FOCUS: Contagion From Euro-Zone Crisis Evident In UK Lending Conditions
Wall Street Journal
Moreover, the growing fears that credit conditions will worsen lend support to Bank of England Governor Mervyn King's statement last month that we are enduring the worst financial crisis ever. Other members of the BOE's Monetary Policy Committee have ...
Nomura Losing Confidence of Default Swap Traders: Japan Credit
San Francisco Chronicle
Contracts to insure Nomura bonds against default for five years touched 375 basis points yesterday, the highest price since at least September 2010, according to Barclays Plc and data provider CMA. That compares with 354 for Goldman Sachs Group Inc. ...
Italy could trigger financial contagion in U.S.:Moody's
Reuters
By Walter Brandimarte WASHINGTON (Reuters) - The US economy could be hurt by Lehman-like financial contagion if the euro-zone debt crisis engulfs major European countries such as Italy, Moody's Investors Service said on Wednesday. ...
French Bond Risk Rises to Record as Crisis Spreads Beyond Italy
BusinessWeek
10 (Bloomberg) -- The cost of insuring against default on French government debt rose to a record on concern Europe's leaders are failing to contain the region's deficit crisis. Credit-default swaps on France rose eight basis points to 204, ...
It Begins: Alabama County Becomes Largest Municipal Default in U.S. History
Ology
With similar crises looming in Europe (Greece and Italy on the brink of default, which would drag the fragile global economy with them) is brought home by this default. The ongoing credit crisis is still with us and threatens to take the US economy ...
Exposure and contagion: Why Europe's debt crisis puts Australia at risk
NEWS.com.au
So many global lenders are exposed to Greek and Italian debt and if there is a default, there is a real risk of collapse for a major European bank. Then, like the GFC in 2008, the effect could quickly ripple out, creating a potential run on the banks, ...
US Treasury Official: APEC Nations Share Concern About Contagion From Europe
Wall Street Journal
By Tom Barkley and Jean Yung Of DOW JONES NEWSWIRES HONOLULU (Dow Jones)--Europe's ongoing troubles with containing its debt crisis have sparked concerns about contagion among countries meeting at the Asia-Pacific Economic Cooperation summit, ...
Fitch cuts Dynegy unit's rating to default status
CBS News
(AP) NEW YORK — Fitch Ratings on Wednesday cut the issuer default rating for a unit of power company Dynegy Inc. to default status after the subsidiary filed for Chapter 11 bankruptcy protection. The firm downgraded the issuer default rating of Dynegy ...
GOP debate educates public on how housing caused the financial crisis
The American (blog)
By Peter J. Wallison In last night's Republican debate, every Republican presidential candidate who was called on to discuss the condition of the housing market made the point that the financial crisis—and the current deplorable state of US ...
Yell Loan Buyback May Constitute Default, Moody's Investors Says
BusinessWeek
10 (Bloomberg) -- Yell's Group Plc's plan to buy back its bank debt at prices “materially below par” is likely to constitute a default, depending on the level of the discount, according to Moody's Investors Service. Yell plans to use as much as 108 ...
Wall Street Optimistic On Easing Contagion Fears
RTT News
(RTTNews) - Trading in the US index futures suggests a positive open on Wall Street on Thursday after futures swung between gains and losses earlier in the session. The reversal came about after the European Central Bank began buying Italian bonds. ...
Of Debt Default and Doomsday Scenarios
Transitions Online
By S. Adam Cardais + November 10th, 2011 With so many analysts caught off guard by so much of the 2008 financial crisis – Lehman Brothers, anyone? – doomsday scenarios for the European sovereign debt crisis are proliferating. “Europe's Next Nightmare ...
Jumbo Mortgage Holders Now 'Greater Strategic Default Risk'
Hartford Courant
In a study released Oct. 31, the ratings agency Moody's said that based on its analysis of mortgage-backed bond portfolios, homeowners with jumbos now constitute "greater strategic default risk" than any other type of borrowers, including subprime. ...
Italy Likely Default Kills Market...
FXstreet.com
Default is the word of the day. Our futures went from flat to -290 on the Dow. While it improved slightly from time to time, we still gapped down over 200 points at the open. Lots of back and forth as the day wore on, but in the end, a very nasty day ...
Study the financial crisis with the new Greek PM
FT Alphaville (blog)
Last semester, Lucas Papademos was a visiting professor at the John F. Kennedy School of Government, and taught a class entitled “The Global Financial Crisis: Policy Responses and Challenges”. This course examines policies aimed at the prevention and ...
Wester MarketsTumble on Contagion Fears
FXstreet.com
The Dollar soared as fears of contagion sent the Euro down 2.1% to 1.3546. The Australian Dollar, representative of the risk-trade tumbled 2.3% to 1.0150. The Swiss Franc shed 1.6% to 1.1001, and the Pound fell 1.1% to 1.5920. ...
Financial crisis should serve as wake-up call
Sunny South News
Watching the financial crisis unfold in Greece should serve as a strong message for other governments around the world. While most Canadians will likely feel removed from the crisis and confident a similar issue is unlikely to develop in our own ...
The Morning Ledger: Contagion Jitters
Wall Street Journal (blog)
Still, Italy's borrowing costs are at dangerous, unsustainable levels and fears that Italy could default– or that the euro zone could disintegrate aren't going to go away soon. “Italy started us off, but everything subsequent to that is whether the ...
Stocks Fight to Stabilize as Euro Contagion Spreads
Yahoo! Finance (blog)
Further, there's evidence that overseas bond markets are betting on full-blown contagion, driving yields on 2-year French debt from 2.75% to 3.31% in just one month. My Breakout partner Matt Nesto and I sat to discuss the situation in Europe and the ...
Secondary Sources: European Crisis, Saving Euro, European Endgame
Wall Street Journal (blog)
“As if the economic ramifications of a full-blown Greek default were not terrifying enough, the political consequences could be far worse. A chaotic eurozone breakup would cause irreparable damage to the European integration project, the central pillar ...
GAO to tally cost of the financial crisis
Housing Wire
by JON PRIOR The Government Accountability Office will conduct a wide study on the harm the recent financial crisis caused the US economy, local governments and family households. Sen. Tim Johnson (DS.D.), chair of the Senate Banking Committee, ...
Italian Financial Crisis Prompts Berlusconi's Exit, Escalates Fears of ...
By mail@democracynow.org (Democracy Now!)
The European financial crisis continues to worsen as fears grow that Italy may become the latest nation in need of a massive bailout. The European Commission admitted today that the entire eurozone could be plunged into a recession in ...
Democracy Now!
Calafia Beach Pundit: PIIGS update
By Scott Grannis
PIIGS update. Having been somewhat out of touch earlier this week, but nevertheless quite aware of all the sudden, new-found agonizing over whether Italy will soon join Greece as a major defaulter, I wanted to get things in perspective. ... debt yields, and spreads to Germany, yesterday crossed the line into "no-man's land" (e.g., yields over 7%), meaning that Italy's debt burden has now become unsustainable and the market has thus effectively made an Italian default highly likely. ...
Calafia Beach Pundit
Italy Default Fears Grow As Borrowing Costs Rise
By The Huffington Post News Team
Market confidence in Italy's ability to pay its bills faded quickly on Wednesday, and experts warn that fears of Italian default could weigh heavily on the U.S. economy as it fights against a renewed economic downturn. Interest rates on 10-year ... If European politicians are unable to contain their sovereign debt problems, Wall Street could be on the brink of another financial crisis, according to economists.... Europe Begins ... Italian Struggles Send US Banks Down On Fears Of Contagion ...
Video on Huffington Post
Investors Fear Contagion From Euro Crisis - The Takeaway
By takeawaydigital@gmail.com (Public Radio International and WNYC Radio)
As the European sovereign debt crisis has spread from Greece to Italy, investors worst fears are coming true. "Contagion" is ...
The Takeaway: Final Edition
APEC ministers to vow to stem contagion of European financial crisis
APEC ministers to vow to stem contagion of European financial crisis. HONOLULU, Nov. 10, Kyodo. Finance ministers from the Asia-Pacific Economic Cooperation forum are set to pledge coordinated efforts to prevent spillovers from the ...
News - Kyodo News
How big is the risk of contagion from Greece to the rest of the ...
By Ioanna Antonopoulou
Using an econometric methodology called Granger causality test, we find that any substantial rise in debt and any incidence of default in one Eurozone peripheral country transmits to the remaining peripheral countries. Therefore, there is ...
Greece@LSE
Italy is sinking into depression, and that's before any act of default ...
By Jeremy Warner
The longer the maturity, the greater the perceived risk of default, so it's going to be tough. The biggest part of Italy's problem in terms of market credibility is its politics. There are undoubtedly big problems with the economy, but Italy is not ...
Finance
Reflections on Iceland and the financial crisis - Part 10 - Opinion 250 ...
By admin
Like the pale green, violet and other shades of northern lights that dance across the polar sky, there are a range of perspectives in Iceland on the financial crisis and the massive citizens' movement that arose as a result. ... Margret and her Movement Party colleagues, argue that the economic situation in the country is far worse than the government is portraying, pointing out that about 35% of all households are still in "a serious default position with their debts," and that, because many ...
Opinion 250: Views

Euro Crisis - Google News

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New Normal News

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