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

Thursday, April 12, 2012

ECB to Buy Euro-Zone Bonds Again, as Contagion Spreads?

ECB to Buy Euro-Zone Bonds Again, as Contagion Spreads?
Wall Street Journal (blog)
By Geoffrey T. Smith The European Central Bank may ultimately have to revive its controversial program of buying euro-zone government bonds if the flight out of Spanish and Italian bonds continues, analysts say. Such a development probably isn't ...

ECB's Knot: Spain Currently Is The Euro Zone's Biggest Problem
Wall Street Journal
THE HAGUE (Dow Jones)--European Central Bank governing council member Klaas Knot on Wednesday said Spain is currently the main risk in the euro zone and he urged that country to speed up reforms to restore market confidence.

How Euro Crisis Could Benefit Germany
Wall Street Journal (blog)
By Neelabh Chaturvedi Investors could soon start paying Germany for the privilege of parking their funds for two years as an escalation of the debt crisis in the euro zone spurs a scramble into assets perceived to be safe, analysts said.

Measuring the Euro-Zone's Crisis Firewall
Wall Street Journal
But the country's rising government-bond yields are putting the euro zone's crisis-response tools back under the microscope. The European Financial Stability Facility has gained extra powers and the new European Stability Mechanism has been brought ...

Eurozone crisis: Why it may not be over yet
BBC News
Apparently, global investors are having second thoughts about the eurozone crisis. They've decided it might not be over, after all. Well, tell us something we didn't know, I'm tempted to say on behalf of many economists. For them, the surprising thing ...

BBC News

Eurozone crisis now being felt in Asia, warns Asian Development Bank
The Guardian
"The greatest risk to the outlook is uncertainty surrounding the resolution of sovereign debt problems in the eurozone," it said, warning that policymakers must "follow the only half-resolved eurozone debt problems closely, and be ready to act.

The Guardian

Eurozone crisis: Fear returns
BBC News
The French President, Nicolas Sarkozy, said "I want to tell the French people that the page of the financial crisis is turning. Today the problem is solved." The President of the European Council, Herman Van Rompuy, was equally upbeat when he said "the ...

BBC News

ECB's Coeure: Bond-buying still euro-zone option
By Barbara Kollmeyer MADRID (MarketWatch) -- Bond yields for Spain and Italy pulled back on Wednesday after a member of the European Central Bank's executive board, reportedly said the central bank still has the option of restarting its bond-buying ...

Tokyo Shares Hit 7-Week Low On Eurozone Fears, Yen Rise
Wall Street Journal
The major indexes fell sharply at the open after US indices suffered their worst losses of the year and the yen rose against its major international counterparts amid rekindled concerns overEurozone debt and soaring Spanish bond yields.

GLOBAL MARKETS-Shares fall on growth, euro zone debt worries
Some say the markets had raced ahead of themselves on optimism after recent brighter US data and hopes for some progress in the euro zone debt crisis, even with Europe's sovereign debt problems set to remain a risk factor for years.

Euro zone powerless to avoid big oil divide
Reuters Blogs (blog)
So far France is the only euro zone country to explicitly state that it may join the United States and UK in tapping spare supplies. But with rising Spanish bond yields already thrusting Europe back into crisis mode, other vulnerable countries might be ...

Eurozone debt crisis erupts into French presidential race
Economic Times
PARIS: The eurozone financial crisis forced itself onto the agenda of the French presidential battle on Wednesday, as renewed concerns about Spanish and Italian debt sent jitters through markets. President Nicolas Sarkozy, standing for re-election in ...

Spain and Italy clash over blame for latest phase in eurozone crisis
The Guardian
Fresh evidence of the strains in the eurozone emerged on Wednesday after Spain reacted angrily at being blamed by Italy for the latest flare-up in the single currency's debt crisis. Despite attempts by the European Central Bank to ease the selling ...

The Guardian

Concerns around eurozone debt crisis
It was yet another risk-off session on Tuesday, as concerns continue to build around theeurozone debt crisis. Spanish 10-year bond yields are trading only marginally below the 6.0% benchmark, which is a good indicator of heightened market tensions.

Eurozone crisis live: Spain in crisis as borrowing costs soar
The Guardian
7.19am: Good morning and welcome to our rolling coverage of the eurozone financial crisis. Spanish prime minister Mariano Rajoy will be making a speech this morning, after yesterday's market rout, which saw the Madrid Stock Exchange drop to levels not ...

The Guardian

Markets Rebound But Eurozone Fears Remain
Sky News
Mr Bootle, managing director at Capital Economics went on to say, Spain was a concern for theeurozone but: "the euro authorities will bend over backwards to keep Spain in. The consequences of Spain leaving the euro would be enormous.

Eurozone back in the danger zone
Sydney Morning Herald
Fears of contagion and growing opposition to Italian Prime Minister Mario Monti's labour market reforms explain why the Italian sharemarket has been taking such a thumping, with the shares of badly hit banks suspended. A second factor is the emergence ...

Sydney Morning Herald

The Euro Crisis Is Back! (Actually, It Never Really Left)
The Atlantic
We thought the Euro crisis was over. We were wrong. Euro leaders just kicked the can down the road. Inexplicably, they confused this for the end of the road. But now the can needs to be kicked again. Either that, or Europe needs to come up with a ...

The Atlantic

* Bond-buy programme still exists -board member Coeure
Coeure, the ECB board member in charge of market operations, said the central bank still had the Securities Market Programme (SMP) in place allowing it to purchase debt of euro zonenations, should the need arise. "Will the ECB intervene?

Eurozone's debt troubles continue
Amid increasing worries about the eurozone's debt problems, countries are finding it difficult to borrow money by selling government bonds. In its latest auction, on Wednesday, Germany was unable to sell all the bonds it wanted.


Setting the Stage for Drachma Drama
Wall Street Journal
Managers should start preparing now for the possibility that one or more countries could leave the euro zone. By CHRISTOPHER STEPHENS Until now, Asian companies have tended to view the financial crisis in Europe through a macroeconomic lens, ...

The Morning Ledger: Euro-Zone Crisis Returns With a Vengeance
Wall Street Journal (blog)
But it looks like a new confidence crisis is brewing in the euro zone. There's growing skepticism that austerity plus tax hikes can equal growth anytime soon. “People are looking at the math and saying, 'No, it doesn't add up,'” JP Morgan Asset ...

A Sarkozy Loss Could Plunge Europe Into Chaos—In A Good Way!
Slate Magazine (blog)
This week's edition of eurozone panic is centered on Spain, and the inevitable conclusion is pretty clear—Prime Minister Rajoy will reaffirm his commitment to austerity and the ECB will sweep in to calm things down. Some more time will be bought, ...

Slate Magazine (blog)

Asian stock markets hit by fresh euro zone debt fears
Oman Daily Observer
Hong Kong — Asian markets mostly fell further yesterday following heavy losses in Europe and the United States on fresh euro zone debt worries and concerns over the global recovery. The yen held on to most of its advances against the euro and dollar ...

Oman Daily Observer

HK Shares End Lower On Growth Concern, Euro-Zone Crisis
Wall Street Journal
HONG KONG (Dow Jones)--Hong Kong shares ended lower Wednesday, in line with regional markets, dragged by a sharp overnight decline in Wall Street, worries over slower economic growth in China and fresh concerns over Europe's debt issues triggered by ...

Inconclusive Greek Election Adds to Uncertainty
Wall Street Journal (blog)
In June alone, the next government must decide on fresh cutbacks of around €11 billion if Greece is to continue being financed by its euro-zone partners and the International Monetary Fund. But after two years of harsh austerity, which has plunged the ...

Dow seen opening higher as eurozone fears ease, Alcoa in focus
Proactive Investors USA & Canada
US equity markets looked set to open higher Wednesday as investors take inspiration from better-than-expected Alcoa earnings while easing bond yields in Spain and Italy may also help sentiment. In pre-market trading, the Dow Jones Industrial Average ...

Proactive Investors USA & Canada

This eurozone deep stall may have to lead to a crash if we're to rein in finance
The Guardian (blog)
The eurozone crisis is back, with the markets in fright and Spanish bond yields up to 6%. Most Guardian readers could be forgiven for stifling a yawn: we have been living with financial crisis since 2008 and most of it only seems to matter if and when ...

The Guardian (blog)

Austerity Alone Won't Solve Euro Crisis, Brown Says
Washington Post
Apr. 10, 2012 - April 10 (Bloomberg) -- Alan Brown, chief investment officer at Schroders Plc, talks about Spanish bond yields and the European sovereign-debt crisis. He speaks with Tom Keene on Bloomberg Television's "Surveillance Midday.

Eurozone Troubles Heating Up | Mother Jones
By Kevin Drum
Italy and Spain, the eurozone's third and fourth biggest economies, were at the centre of the market turmoil, with investors demanding an increasingly high premium for holding their bonds. Hopefully the Guardian's reporters are just being a ...
MoJo Blogs and Articles | Mother Jones

By MacroWonders
Earlier today the headline *GERMAN TWO-YEAR NOTE YIELD DROPS BELOW JAPAN'S FOR FIRST TIME* hit the wires and yes currently sitting at below 0.1%, it is indeed very close to turning negative. As illustrated below it took 20 years for ...

Financial Crisis, Productive Incoherence, and the Evolution of ...
By Ilene Grabel
Ilene Grabel. What is most notable about the global crisis of 2008-? is the way in which it is proving productive for institutional experimentation in the realm of financial architectures in the global South. As with the Asian crisis, the current crisis ...

Sober Look: Italy - Spain rift over contagion risk
By Walter Kurtz
Italy and the Eurozone as a whole are clearly nervous about Spain sparking another liquidity crisis. Monti has made quite a bit of progress in Italy (with Italian long-term yield now firmly lower than the Spanish yield), but he may be looking at a ...
Sober Look

European morning wrap: Betta day for the euro zone peripheries ...
By Gerry Davies
Earthquake off the West coast of Northern Sumatra, 8.7 magnitude. Indian ocean-wide tsunami watch in effect ECB's Coeure: Market conditions normalised.

Gold Steady, Eurozone Debt Crisis Back in Focus | Merit Financial ...
By admin
Gold prices held above $1650 an ounce Wednesday, following four straight days of gains as renewed concerns over the Eurozone debt crisis dominated investor sentiment. Europe's problems came back into focus after 10-year Spanish yields ...
Merit Financial - Buy Gold Coins...

Asian shares fall as eurozone debt worries weigh | Marketscope ...
Asian shares fell for a third straight day on Wednesday as uncertainty over global growth prospects, and resurfacing worries about debt restructuring in the eurozone, prompted investors to continue trimming their risk exposures.
FP Top Stories List

Bloodthirsty Liberal » We Are PIIGS
By Bloodthirsty Liberal
There are about 313 million Americans, 330 million or so in the Eurozone (ie, excluding the United Kingdom). So, if you do a direct US/Eurozone comparison it's $15.1 trillion over here, $10.8 trillion over there, which means at the present rate, ...
Bloodthirsty Liberal

Market Day Ahead l Equities Fall On China Euro Zone... | Stuff.co.nz
The defensive nature of the New Zealand share market is likely to be put to the test again today, amid soft leads after global equity markets retreated on the back of softer-than-expected Chinese trade data and European debt fears.
Stuff.co.nz - Business

$a down on euro zone weakness - www.thebull.com.au
the australian dollar has fallen on weakened euro zone markets.

US Debt Exceeds Euro Zone, UK Combined | Liberal Whoppers
By Blog Feed
Home · Conservative Bloggers News Feed · Submit a Whopper · Contact · About. Search for: Blogroll. American Thinker · Ann Coulter · Best Conservative Blogs · Big Government · Drudge Report · Foxnews · Hotair · Laura Ingraham · Newsmax ...
Liberal Whoppers

adjusting to crisis in the eurozone « Thought du Jour
By Larry Willmore
In the years of euphoria prior to the financial crisis, private capital flowed freely, not least into countries in southern Europe. Greece, Portugal and Spain ran current account deficits of 10 per cent of gross domestic product, or more.
Thought du Jour

Eurozone crisis reignites as Spanish bond yields hit four-month high ...
European stock markets plunge amid growing concern about Spain's ability to avoid bailout despite severe austerity measures.

New eurozone bailout fund: €700bn or €940bn? | Brussels blog ...
Coming up with a number for the size of the new, enlarged eurozone rescue fund seems to be the favourite parlour game in the run-up to today's meeting of ...

Euro-zone unemployment rate hits 10.8%: Eurostat - MarketWatch
LONDON (MarketWatch) -- The unemployment rate in the 17-nation euro zone increased to 10.8% in February, on a seasonally-adjusted basis, compared to ...

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