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

Saturday, April 21, 2012

Italy next in line to test debt market nerve

EURO DEBT SUPPLY-Italy next in line to test debt market nerve
* Italy issues medium- and long-term bonds next Friday * Sale closely watched for signs ofcontagion from Spain * Germany faces tricky task of selling 32-year bonds By Marius Zaharia LONDON, April 20 (Reuters) - Italy's borrowing costs are under ... 

Euro zone worries set to support low T-note yields
Treasury futures edged 3/32 lower to 131-43/64, retreating slightly from highs hit in Asian trading after the Ifo survey of business morale unexpectedly rose for the sixth month running, offering some small respite from pessimism over the euro zone's ...

Germany sees upswing amid eurozone turmoil
The Seattle Times
A key index of business optimism on Friday reinforced what an increasing number of economists are saying: Germany is beginning to see an upswing - even as the rest of the 17-country eurozone struggles with economic and financial turmoil over too much ...

Investors bet German stocks to stay Europe's stars
* DAX up 14 percent in 2012 vs flat Euro STOXX 50 * Fundamentals, charts point to more gains * Ifo supports strong German economy story By Toni Vorobyova LONDON, April 20 (Reuters) - German shares have outperformed their euro zone peers this year and ...

Euro zone strugglers falter in property sell-off
By Tom Bill | LONDON, April 20 (Reuters) - Debt-laden euro zone countries hoping to sell state-owned property must cut prices and establish more transparent sales programmes to boost the slow trickle of transactions to date, research showed.

FOREX-Euro boosted by Ifo survey, gains seen limited
* Euro ticks up after German Ifo survey * Trade likely to be subdued ahead of French vote on Sunday * IMF's euro zone firewall funding talks eyed By Nia Williams LONDON, April 20 (Reuters) - The euro edged higher on Friday after a better-than-expected ...

German business morale up for sixth straight month
* Ifo rise follows increase in ZEW index earlier in week * Data shows German companies weathering euro crisis well * Euro gains, German bond futures retreat on data By Noah Barkin and Sarah Marsh BERLIN, April 20 (Reuters) - German business sentiment ...

German Business Confidence Rises
Wall Street Journal
By MARGIT FEHER FRANKFURT—German business confidence increased for a sixth straight month in April, with companies encouraged by signs the euro zone's largest economy is rebounding from the region's slowdown. Yet while Germany continues to be an ...

Optimism in Germany, strong US earnings boost markets despite eurozone worries
Washington Post
Growth in Germany could help weaker nations in the 17-country eurozone as demand for their goods increases. “This is strong empirical evidence that the recovery of the global economy continued in the last few weeks,” analysts at UniCredit wrote in a ...

Canada's Flaherty: Wants 'Two-Key' Votes At IMF On Euro Zone
Wall Street Journal
"Because of the large number of European seats on the board of the IMF, some of us--and Canada certainly--(are) of the view that we ought to have two keys in effect, that we would have one vote by the euro-zone countries and another vote for approval ...

Euro Zone Takes Stock of Arsenal
Wall Street Journal
By STEPHEN FIDLER The strains are back in the euro zone. The euphoria in stressed government-bond markets generated by the European Central Bank's two injections of cheap three-year funds to the region's banks has given way to renewed anxiety about ...

Wall Street Journal

PRECIOUS-Gold treads water; euro zone worry, US data weigh
... technicals (Adds comment, updates prices) By Rujun Shen SINGAPORE, April 20 (Reuters) - Gold held steady on Friday in listless trading as persistent concerns about the euro zone'sfinances and disappointing US economic data put off most investors.

MONEY MARKETS-Signs of euro zone bank fears quietly mount
... April 20 (Reuters) - As the effects of the European Central Bank's huge three-year liquidity injection wear off and the euro zone debt crisis escalates, funding pressure on banks is intensifying again, although the excess cash should curtail sharp ...

Euro zone hopes for funds from the Fund
Reuters Blogs (blog)
By Mike Peacock Focus for the euro zone is firmly on Washington with G20 policymakers gathering ahead of the IMF spring meeting. The Fund is seeking an extra $400 billion-plus in crisis-fighting funds which, tallied with the $500 billion euro zone ...

Eurozone crisis live: Spanish bond yields spike above 6%
The Guardian
With austerity-driven slowdowns coming to most other core Eurozone countries, an obvious cooling of the Chinese economy and a still not very dynamic US recovery, export growth should clearly come down. However, hopes for more domestic consumption on ...

The Guardian

Play the mini-cycles, not the euro crisis
Reuters Blogs (blog)
By Mike Dolan For all the headline attention on euro zone political heat over the next six weeks or so (Spain is already in the spotlight, Sunday is the first round of the French presidential elections, Greece goes to the polls on May 6, Ireland votes ...

Reuters Blogs (blog)

German Ifo boosts euro, lifts Bund yields from lows
The index now stands at its highest level since July 2011, a further sign that Europe's largest economy continues to outpace peers and shrug off the effects of the euro zone debt crisis. German Bund futures erased early gains to stand flat at 140.62, ...

GLOBAL MARKETS-European shares head for weekly gain after Ifo
Euro zone banks drove the rebound, jumping 2.6 percent. BNP-Paribas and Societe Generale climbed 4.5 percent and 5 percent, respectively, after BofA Merrill Lynch said valuations for the French banks, which had fallen around 20 percent since the start ...

Flaherty calls for IMF bailout veto for non-eurozone countries
Vancouver Sun
WASHINGTON — Finance Minister Jim Flaherty on Thursday chastised European nations for failing to do enough to protect against a debt crisis, and called for non-eurozone countries to hold a veto over a potential International Monetary Fund bailout.

PRECIOUS-Gold inches lower; euro zone worry, US data weigh
But economists polled by Reuters said Spain and Italy would not need international bailouts as they battle through their debt crises, although their economic ills may drag the euro zone'srecession into mid-year. * Investors remained concerned about ...

German business confidence climbs
Financial Times
By Ralph Atkins in Frankfurt German business confidence has risen for a sixth consecutive month, highlighting the robustness of Europe's largest economy even as the eurozone debt crisis takes its toll on much of the rest of the continent.

EURO GOVT-Spanish yields pierce 6 pct as nerves jangle
The latest flare-up in the euro zone debt crisis threatened to spread to Italy, where 10-year yields were last up 8 basis points at 5.70 percent. France's presidential elections on Sunday were adding to market jitters, setting up a challenging ...

Canadian, German officials clash over Europe
By Greg Robb, MarketWatch WASHINGTON (MarketWatch) — The finance minister of Canada and a top official of the European Central Bank clashed in public Thursday over whether the euro zone has done enough to reduce the risk of another round of crisis.


Melenchon Vows to 'Trash' Fiscal Pact
Wall Street Journal (blog)
... before the first round of voting in French presidential elections draws to a close, far-left candidate Jean-Luc Mélenchon underlined the importance of supporting growth rather than fiscal austerity to shore up the euro-zone's struggling economy.

EuroCrisis, Ireland, Italy, Portugal and Spain More Defaults Certain
International Business Times
By Shayne Heffernan The economic austerity programs demanded by the ECB, IMF and World Bank have adopted by the GIIPS - Greece, Ireland, Italy, Portugal and Spain - the move will of course flatten the economies and possibly break apart the EU.

Flaherty objects to calls for more euro zone bailout money
Globe and Mail
Finance Minister Jim Flaherty had some tough talk on Thursday for the 17 euro zone countries, saying Canada and other non-euro nations shouldn't be expected to commit any more bailout funds to the region and even publicly challenging a top European ...

Globe and Mail

German Ifo Surprises On The Upside
BERLIN -- The Germany economy continues to improve despite increased turmoil in the euro zone, Klaus Wohlrabe, economic expert at the Munich-based Ifo Institute, told Dow Jones Newswires Friday. German business confidence rose unexpectedly for a sixth ...

MARKET COMMENT: Europe Stocks Rise As Banks Rally After German Ifo
Wall Street Journal
"But markets are fragile in 2012 and as long as the euro zone has such fundamental problems, investors will be nervous and macroeconomic data can easily push stock prices out of course," he said. Macroeconomic data provided support.

German Business Confidence Index Up For 6th Month
By AP 04/20/12 - 04:27 AM EDT FRANKFURT, Germany (AP) — A key index of business optimism on Friday reinforced what an increasing number of economists are saying: Germany is beginning to see an upswing — even as the rest of the 17-country eurozone ...

Open Europe blog: The ECB loads up on PIIGS exposure
By Open Europe blog team
Reuters MacroScope blog covers some of our updated figures on the exposure of the ECB to the struggling peripheral countries. Following the ECB's Long Term Refinancing Operations (LTRO) the ECB's exposure to these countries has ...
Open Europe blog

The Eurozone's real malady | vox - Research-based policy analysis ...
The current gyrations of sentiment over government-bond spreads in the Eurozone are generating much commentary. Yet this column argues they are diverting attention from the real issue – the Eurozone periphery needs a big realignment ...
VoxEU.org: Recent Articles

French Politics: Macroeconomics for the Eurozone
By Arthur Goldhammer
An excellent discussion of what Eurozone macroeconomic policy should be, as opposed to what it is, by Simon Wren-Lewis, here. One can hope that the election of François Hollande will move European and especially German thinking on ...
French Politics

Testosterone Pit - Home - But the PIIGS Get to Live Longer
By Wolf Richter
Naked Capitalism, 02-01-2012. Eurozone Bailout May Be Getting Too Big For Germany To Handle, Business Insider, 01-29-2012 ... Paying Lip Service To Saving The Eurozone, Zero Hedge, 01-25-2012. The Art Of Extortion: Now At The IMF, ...
Testosterone Pit

Forex - U.S. dollar moves lower on euro zone growth signals By ...
By Forexpros
Forexpros - The U.S. dollar traded lower against its major counterparts as surprisingly positive German business confidence numbers and IMF bailout hopes increase demand for the risk on trade. During U.S. morning trade, the dollar was ...
Forex Pros RSS News Feed | Forex News

Germany sees upswing amid eurozone turmoil | OdeWire
By odewire
A key index of business optimism on Friday reinforced what an increasing number of economists are saying: Germany is beginning to see an upswing--even as the rest of the 17-country eurozone struggles with economic and financial turmoil ...

German Fin Min: G7 'Fully Agree' Eurozone Has Done Enough ...
By Market News International
ECB Weidmann: 'Reflexive' Call for ECB Intervention Worrying --Weidmann: Eurozone Situation Remains Fragile; Crisis Not Overcome By Chris Cermak.

Eurozone debt crisis: how greece could exit the euro - Others Forum ...
By 34686
The European sovereign debt crisis is an ongoing financial crisis that has made it difficult or impossible for some countries in the euro area to re-finance their government debt without the assistance of third parties. From late 2009, fears of a ...
caclubindia.com: Forum

VIDEO: Eurocrisis tops the agenda at IMF, G20 - TypePad
Our Washington correspondent Malcolm Brown filed this report from DC.

Focus of Euro Crisis Shifts to Spain | Mostly Water
By blackandred
Focus of euro crisis shifts to Spain. By Peter Schwarz; 19 April 2012 - WSWShttp://www.wsws.org/articles/2012/apr2012/spai-a19.shtml. Spain now faces the same fate that has befallen Greece. Under pressure from the European Union and ...
Mostly Water

Weekly Eurozone Watch: France Wider Ahead of Election | Global ...
By macromon
Monitoring the Global Economy. Skip to content. Home · About · Articles · Calendar · Contact · Disclaimer · Mentions · Toolkit · ← Euro Crisis: Lorenzo Bini Smaghi. Weekly Eurozone Watch: France Wider Ahead of Election. Posted on April 20, ...
Global Macro Monitor

Gold Prices Remain Steady as U.S Data and Euro-Zone Concerns ...
By edliston
Gold prices remained flat as growing worries over euro-zone debt financing along with disappointing U.S. economic data turned off investors from the bullion.
Stock Market News

Aussie Gets a Boost on Better Eurozone Data | GFT Forex
Aussie is heading higher in forex trading today, gaining as better eurozone data helps risk appetite. Even so, the Australian dollar is mostly softer on the week, since there were so many losses earlier. European currencies are gaining against ...
Forex Commentary | GFT Forex

Market Preview - 20 April 2012; IFO & Eurozone in focus ...
European markets are seen opening lower Friday, ahead of the G20 finance ministers, IMF and World Bank meeting scheduled today. Moreover, investors are keeping an eye on the German inflation & business climate data due today.
Tradingfloor.com - the home of...

The Fed's Swap Bailout of the Eurozone - Philipp Bagus - Mises Daily
The highest cost of the Fed policy may be liberty in Europe.

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