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

Thursday, January 5, 2012

Pimco's Bill Gross: In 2012, Buy Treasurys, Avoid Euro Zone

Pimco's Bill Gross: In 2012, Buy Treasurys, Avoid Euro Zone
Wall Street Journal
As long as a euro-zone credit implosion is possible, "investors should gravitate to the 'cleanest dirty shirt' sovereigns with the least encumbered balance sheets," said Gross in his 2012 outlook, which was available on Pimco's website Wednesday. ...

Euro-Zone Inflation Falls
Wall Street Journal
By BRIAN BLACKSTONE FRANKFURT—Inflation fell in the euro zone for the first time since last summer, giving the European Central Bank more flexibility to take added steps to support the region's economy and address its debt crisis without fearing an ...

Wall Street Journal

Euro crisis boosts appeal of 'safe' companies
Financial Times
By Robin Wigglesworth and Nicole Bullock Even Europe's largest and most solid companies started feeling the heat of the eurozone crisis late last year, sending yields on corporate bonds higher and denting their reputation as a haven. ...

Euro zone crisis, MF Global chill trading at CME, ICE
Reuters
By Tom Polansek and Ann Saphir | CHICAGO (Reuters) - CME Group (CME.O) and IntercontinentalExchange (ICE.N) said on Wednesday that trading volume dropped last month, which analysts attributed to MF Global's collapse and Europe's debt crisis chilling ...

Bond markets give eurozone a brief respite
The Associated Press
But Greece's new prime minister warned that his debt-crippled country has only three months to come up with new reforms so his country can stay in the eurozone and avoid a potential default — a reminder of how the crisis can flare up at any time. ...

The Associated Press

Clouds behind eurozone clouds
BBC News
Today's European officials scan the bond markets, hoping to read the pulse of theeurozone. Dates when Italy or Spain have to go to the markets to service their debts are nervously underlined in the calendar. A successful bond auction produces a ...

BBC News

US Stocks Open Lower On Euro-Zone Liquidity Concerns
Wall Street Journal
By Steven Russolillo and Tomi Kilgore Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--US stocks opened lower on Wednesday as euro-zone liquidity concerns prompted investors to consolidate some of the sharp gains registered in the previous session. ...

European Stocks Close Lower As Euro Zone Worries Continue
Wall Street Journal
By Andrea Tryphonides European stocks closed in the red Wednesday and the euro erased gains versus the dollar as the woes of the euro zone continued to bug investors, highlighted by lacklustereuro-zone economic data and a subdued German 10-year ...

Amid Euro Crisis, Workers In Italy, Spain Translate Their Resumes Into English ...
Huffington Post
An increasing number of workers in the troubled Mediterranean countries of Italy, Spain and Greece are having their resumes translated into English and German, as they seek to move to the more secure countries in the north as the eurozone crisis ...

Euro Zone Isn't Only Potential 2012 Boogey Man
Wall Street Journal (blog)
By Kathleen Madigan For those obsessed with the euro-zone debt crisis and its impact on 2012, keep this in mind: so much else could go wrong. The consensus view is that the US economy will do better this year than it did in 2011. ...

Greece wants out of Eurozone. Now!
RT
Greece has announced that it could ditch the Euro and exit the Eurozone in as little as 3 months - unless the EU and the IMF fund it with a second 130 billion euro bailout. Talks over the cash life-line have stalled for months over the poor performance ...

FTSE retreats as euro zone fears prevail
Reuters
By Tricia Wright | LONDON (Reuters) - Concerns over the euro zone sent Britain's top shares into reverse on Wednesday after the previous session's sharp gains, as Italian lender UniCredit priced a rights issue at a huge discount, and a German bond ...

Eurozone's phoney war will be short-lived
The Guardian (blog)
It is a similar story in the eurozone. Nick Parsons, the head of strategy at National Australia Bank, rightly notes that the economic numbers released so far in 2012 point to an increasing divergence between the strong and weak countries of the ...

The Guardian (blog)

FTSE hit by fresh eurozone fears
The Press Association
The new year rally on London's leading shares index has proved shortlived after ongoing fears over theeurozone debt crisis once again took hold. The FTSE 100 Index lost hold of earlier gains, following a strong 2% surge on Tuesday, and closed 31.5 ...

Eurozone crisis: German, Portuguese and UK debt auctions loom
The Guardian (blog)
8.14am: Lord Wolfson's warning that Next's pre-Christmas sales suffered from the euro crisis reminds us that he is offering a £250000 prize to the economist who can devise the best way for a country to make an "orderly exit" for the euro. ...

The Guardian (blog)

METALS-Copper drops on euro zone debt worries
Reuters Africa
Downturn in euro zone private sector eases in Dec * Stronger dollar against euro adds to metal pressure * US durable goods orders for Nov slightly ahead of expectations By Harpreet Bhal and Melanie Burton LONDON, Jan 4 (Reuters) - Copper prices fell ...

Euro zone on course for recession
Reuters Video
4 - The downturn in the euro zone's private sector economy eased slightly towards the new year thanks to an upturn in Germany but the region still looks on course for recession. Ciara Sutton reports.

Transfer Payments Won't Rescue the Euro Zone
Wall Street Journal (blog)
The stark divide between the German and Spanish economies adds fuel to the argument that a single currency needs a single fiscal policy, including fiscal transfers. But the UK shows that this is insufficient to get economies going. ...

EU CRISIS ROAD MAP: Key Milestones Ahead
Wall Street Journal
LONDON (Dow Jones)--Near-term hurdles for the euro zone include a potential Standard & Poor's downgrade of its member states, possibly as early as this week, and the resumption of Greece's protracted bailout talks with the troika of its international ...

Zloty Slumps to Two-Week Low on Hungary Contagion Concern
BusinessWeek
4 (Bloomberg) -- The zloty slumped to its weakest level against the euro in more than two weeks on risks of “contagion” as concern grew Hungary will fail to agree aid with the European Union and the International Monetary Fund. ...

Crude Oil Eases Higher Despite Euro Zone Economic Fears
Daily Markets
Crude prices initially dropped on reports that Italy's largest bank, UniCredit planned to sell shares in an effort to raise capital causing concerns that the euro zone debt crisis is far from over. However, crude oil prices rocketed higher by more than ...

Dollar firms as euro debt jitters resurface
MarketWatch
By Sue Chang and Deborah Levine, MarketWatch SAN FRANCISCO (MarketWatch) — The US dollar rebounded Wednesday, with the euro coming under renewed pressure as concerns about theeuro-zone debt crisis re-emerged. The dollar index /quotes/zigman/1652083 ...

Mortgage Rates: Low Mortgage Rates Continue As Euro Zone Concerns Return
FreeRateUpdate.com
Low mortgage rates continued today as Euro zone concerns returned amongst investors who, just yesterday, had started the year with a stock market rally. With European banks looking at new capital requirements this year, renewed jitters over Europe's ...

European Economics Preview: Eurozone Inflation Expected To Ease
NASDAQ
At 4.00 am ET, the final PMI data for Eurozone is due. According to flash estimate published on December 15, the composite PMI rose to 47.9 in December from 47 in November. Half an hour later, mortgage approvals and the construction PMI from the UK are ...

Futures fall on renewed euro zone fears; data eyed (NEWS.GNOM.ES)
NEWS.GNOM.ES (press release)
Shares of European banks dropped on concerns a tight credit market will make it expensive for them to raise capital and for euro-zone countries to refinance debt. (.EU) Italy's biggest bank UniCredit (CRDI.MI) sank nearly 10 percent after it priced a ...

Rimsevics: eurozone may already be past the worst
The Baltic Course
The eurozone may be past the worst already, Bank of Latvia President Ilmars Rimsevics says in an interview with the magazine "Lietiska Diena". "I would like to believe that the eurozone is past the worst, that Europe is now going through a period of ...

The Baltic Course

Bond markets give eurozone a brief respite
Newsday
Click here Bond markets give eurozone a brief respite Originally published: January 4, 2012 8:32 AM Updated: January 4, 2012 2:06 PM By The Associated Press BARRY HATTON (Associated Press), DAVID McHUGH (Associated Press) (AP) -- Europe won modest ...

Newsday

Flight from eurozone fuels property boom
LoanSafe
These proportions could increase in 2012 if the eurozone crisis is not resolved, the euro falls and investors try to find shelter from the economic storm, it added. China is also moving money into top-end London property, with its share of buyers up to ...

Psychopaths Caused the Financial Crisis | The Big Picture
By Barry Ritholtz
Psychopaths Caused the Financial Crisis … And They Will Do It Again and Again Unless They Are Removed From Power Bloomberg notes: The “corporate.
The Big Picture

Bloomberg Hides Government Causes of Financial Crisis
By Peter Ferrara
Media propagandists continue to advance the Democratic Party line.
The American Spectator and The...

Eurozone Inflation December 2011: Inflation Eases, But Is Still ...
By The Huffington Post News Editors
LONDON -- Inflation in the 17 countries that use the euro eased moderately in December but still remains uncomfortably above the European Central Bank's target. In a preliminary estimate, Eurostat, the EU's statistics office, reported ...
The Huffington Post | Full News Feed

US immune from eurozone contagion so far | Gavyn Davies | Insight ...
By Gavyn Davies
Gavyn Davies blogs for the Financial Times on macroeconomics, economic policymaking and the financial markets. Gavyn Davies is a macroeconomist who was the head of the global economics department at Goldman Sachs from ...
Gavyn Davies

Eurozone Concerns Re-Emerge - Zacks.com
By Sheraz Mian
Eurozone Concerns Re-Emerge-Rising bond yields in Spain and new questions elsewhere remind investors that Europe will remain an important issue.
Zacks Investment Research - All...

Bond markets give eurozone a brief respite - seattlepi.com
Greece's new prime minister warned that his debt-crippled country has only three months to come up with new reforms so his country can stay in the eurozone and avoid a potential default — a reminder of how the crisis can flare up at any time ...
seattlepi.com: Top Headlines...

Eurozone inflation eases to 2.8 pct in December | The Associated ...
By The Associated Press
Official figures show that inflation in the 17 countries that use the euro fell to 2.8 percent in the year to December from 3 percent the previous month. The decline reported by Eurostat, the EU's statistics office, on Wednesday was in line with ...
Examiner RSS

Blogoir: Science of Complexity? Meet the Eurozone
Blogoir: Science of Complexity? Meet the Eurozone.
blogoir

The Eurozone failed from day one | Bill Mitchell – billy blog
By bill
The current Eurozone crisis is getting worse and has concentrated our minds on the most recent period of European history. As in all these situations where focus is very immediate our memories get a little blurred and we are inclined to accept ...
Bill Mitchell - billy blog

Euro Zone Services PMI Contracts For 4th Month
By Forexpros
Forexpros – Service sector activity in the euro zone contracted for the fourth consecutive month in December, albeit at a slower pace than initially estimated, official data showed on Wednesday. In a report, market research group Markit said ...
DailyMarkets.com

Crisis Conditions Grip Eurozone | Mostly Water
By Stephen Lendman
Crisis Conditions Grip Eurozone - by Stephen Lendman. From inception, the euro system was doomed to fail. In the 1990s, Progressive Radio News Hour regular Bob Chapman predicted it. So didn't British economist/euro expert Bernard ...
Mostly Water

Eurozone inflation eases to 2.8 pct in December | Washington ...
By The Associated Press
Inflation in the 17 countries that use the euro eased moderately in December but still remains uncomfortably above the European Central Bank's target.
Examiner RSS

Greece drops hints of pulling out of Eurozone as austerity measures ...
By The Extinction Protocol
January 4, 2011 – ATHENS – Greece may have to exit the eurozone if it fails to secure its second EU-IMF bail-out its government has warned, amid new protests against spending cuts. “The bailout agreement needs to be signed otherwise we ...
The Extinction Protocol: 2012 and beyond

Five Eurozone Acronyms Explained - Yahoo! Finance
From Yahoo! Finance: Confused by all of the new acronyms used by the media to describe the European debt crisis? We can help.
finance.yahoo.com/.../five-eurozone-acronyms-explained-190...

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