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

Tuesday, April 17, 2012

Spain, Italy slide further into euro zone crisis

Spain, Italy slide further into euro zone crisis
Reuters
By James Mackenzie and Sarah Morris | ROME/MADRID (Reuters) - Spain and Italy faced growing market pressure on Monday, stoking fears of a new phase in the euro zone debt crisis as Madrid's budget problems threatened to drag in other southern European ...

FOREX-Euro retreats on worries over euro zone
Reuters
News that ratings agency Fitch is not currently considering any action on Italy, the euro zone'sthird-largest economy and one of key concern because of its debt load, also helped the euro cut losses. Fitch said Italy's budget measures are "credible" ...

China, euro zone woes fuel risk aversion
Reuters
Gold, otherwise a safe haven, fell too, as the dollar strengthened with rising Spanish bond yields renewing fears about the debt-plagued euro zone, dragging the euro to two-month lows against the greenback. Platinum sank to its lowest since January.

Soros warns euro crisis could destroy the EU
Reuters
George Soros says fears euro crisis getting worse * Says the euro is undermining EU's political cohesion By John Acher COPENHAGEN, April 16 (Reuters) - Billionaire George Soros warned on Monday that the euro crisis is growing deeper, tearing at the ...

Eurozone debt worries hobble rally
Financial Times
US equity markets have halted a slide in global stocks, but sentiment in global markets remains strained, with tech giants Apple and Google weighing on US indices, while tension continues to build in eurozone peripheral bond markets.

Spain's financial crisis offers important lessons for America's conservatives
Fox News
Spain's economy is teetering on collapse, and its journey shows how strict controls on central banks and budget deficits—advocated by some US conservatives—can wreck an economy. Unlike Italy and Greece, Spain did not unravel because Madrid borrowed ...

GLOBAL MARKETS:European Stocks Up Despite Fears About Spain, Euro Zone
Wall Street Journal
In other euro-zone markets, Italy's FTSE MIB rose 0.8%, but Spain's IBEX 35 was down 0.1%. Despite the brighter news from equities, the bond markets were painting a much more gloomy picture. The 10-year Spanish bond yield ticked just above 6%, ...

Spain concerns weigh on stock market recovery
BusinessWeek
By CARLO PIOVANO A jump in the bond yields of Spain weighed on a recovery in European stocks and pushed Asian indexes lower as investors feared Madrid may eventually need a bailout that the eurozone can scarcely afford. Spain's 10-year bond yield, ...

Euro-Zone Exports Boost Growth Hopes
Wall Street Journal
By ILONA BILLINGTON LONDON—A fourth consecutive increase in euro-zone exports took the region's trade balance into surplus in February, data showed Monday, bolstering hopes that economic contraction will be short lived. The 17-nation currency bloc had ...

Spain's 10-year bond yield shoots past 6 percent as fears mount over bailout
Greenfield Daily Reporter
Spain is the latest country in the hot seat of the eurozone debt crisis, and the stakes are huge if it goes crash-and-burn. Investor wariness of Spanish paper as an investment tool has shot up over the past month, rattling a conservative government ...

GLOBAL MARKETS-Shares, euro fall on renewed euro zone debt concerns
Reuters
A firmer dollar on the back of the euro zone's woes, and worries about slowing demand from China, also weighed on a broad range of commodities from precious metals and copper to oil. MSCI's broadest index of Asia Pacific shares outside Japan fell 0.8 ...

Eurozone risk grows as Spanish yields top 6 percent
NASDAQ
Lending money to the eurozone's fourth-largest economy just got a bit riskier - and a bit more profitable. News sources reported today that the yield on Spanish sovereign 10-year bonds hit 6.1 percent, putting pressure on a financially stressed...

NASDAQ

Investors pull €100bn from eurozone bonds
Financial Times
By David Oakley International investors are withdrawing huge sums of money from the region's sovereign bond markets, a phenomenon that may lead to the bailout of Spain and a worsening of the eurozone crisis. Bankers estimate that €100bn has been taken ...

FX reserves set to boost single currency
Financial Times
The long-run winner, notwithstanding recent turmoil surrounding the eurozone debt crisis that a survey shows has made central bankers shun euro-denominated assets, could yet be the single currency, according to analysts. Strategists say that, if the ...

Euro crisis invites political extremism in French vote
CNN
When Italy needed aid to remain in the eurozone, the EU authorities forced distrusted Prime Minister Silvio Berlusconi to resign and installed in his place an economist prime minister without an intervening election. Yet discontent will emerge ...

Spain and the eurozone's Catch 22
BBC News
It's a phrase that has sprung to mind pretty often since the eurozone crisis started, and it now applies - in block capitals - to Spain. The biggest Catch 22 for the Spanish government is also the most obvious. Its cost of borrowing (the bond yield)...

BBC News

Analysis: No simple answer to EU growth vs austerity conundrum
Chicago Tribune
As the euro zone hovers on the brink of its second recession in three years, the battle launched in academic journals, blogs and the financial press has spread to the hustings in France, Greece and soon in EU economic powerhouse Germany too.

Euro Zone Exports Surge; Demand at Home Still Weak
CNBC.com
The euro zone's trade with the rest of the world showed surprising strength in February, driven by French and German exports of cars and machinery, but imports remained weak as European households struggled through the bloc's economic slump.

CNBC.com

Euro Zone Seeks More IMF Funds
AdvisorOne
Worries over Spain mean that additional funding might be needed to combat theeuro zone debt crisis, which once again is beginning to look out of control. Bloomberg reported Monday that the reluctance of non-European countries to boost contributions to ...

AdvisorOne

Eurozone crisis live: Spanish PM sticks to budget plans as bond yields rise
The Guardian
Fellow eurozone countries have told Spain, now seen as the greatest threat to the common currency, to slash its deficit from 8.5% to 5.3% this year in what will be one of the biggest austerity programmes seen in Europe. Rajoy's government has announced ...

The Guardian

"Euro Crisis Back" as Spanish Yields Spark "Renewed Market Panic"
The Market Oracle
Sovereign debt stresses in the Eurozone are expected to dominate this week's International Monetary Fund meeting, where European officials are expected to ask the IMF to expand its lending capacity to combat a fresh potential crisis, newswire Bloomberg ...

Eurozone Trade Balance Turns To Surplus On Strong Exports
RTT News
The fourth successive rise in Eurozone exports in February boosts hopes that improving foreign demand will play a significant role in helping the single currency area return to growth over the coming months, and Eurozone exporters will be helped by the ...

Gold futures decline on euro zone's worries
MarketWatch
Resurfacing concerns about the euro zone's debt problems weakened the euro, said Jim Steel, analyst with HSBC in New York. Gold finds itself in the same situation as last year, when problems in the euro zone were so great the metal suffered, ...

Brent falls to $120 on China data, Euro zone worries
Reuters
A stronger dollar and a jump in the cost of insuring Spanish debt against default to a record high on Friday renewed worries about the eurozone debt crisis, pressuring oil prices further. Front-month Brent crude slipped 1.17 to $120.04 a barrel by 0311 ...

Euro slides across the board as Spain weighs
Reuters
Financial market sentiment in the euro zone was on edge Spain's 10-year government bond yields rose above 6 percent for the first time this year and the cost of insuring its debt hit a record high. Commodities-linked currencies such as the New Zealand ...

Can Spain Handle the Spotlight?
Wall Street Journal (blog)
By Art Patnaude Hopefully Spain isn't subject to stage fright, because the country has officially moved into the euro-zone's dreaded spotlight. Monday saw a key psychological level breached in the country's bond yields. As investors expressed concern ...

Asia stocks sink amid global economic worries
San Francisco Chronicle
(04-16) 03:42 PDT LONDON, United Kingdom (AP) -- A jump in the bond yields of Spain weighed on a recovery in European stocks and pushed Asian indexes lower as investors feared Madrid may eventually need a bailout that the eurozone can scarcely afford.

EUROBONDS: Primary Market Muted On Euro-Zone Debt Concerns
Wall Street Journal
By Ben Edwards Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The European primary bond market remained sparse on deals Monday as the euro-zone sovereign debt crisis continues to spook investors and keep potential issuers pinned to the sidelines.

Euro Steady Against Majors; Eurozone Trade Balance Turns To Surplus
RTT News
(RTTNews) - The euro halted its Asian session's sharp sell-off in early European trading on Monday after a report showed that the eurozone trade balance swung to a surplus in February. The trade surplus amounted to EUR 2.8 billion in February compared ...

Eurozone Appears Destined to Destroy Itself | FDL News Desk
By David Dayen
As it happens, come Friday I will be traveling to Spain (never fear, dear reader, I have some great guest posters lined up for you), and at a propitious.
Firedoglake

Fuel Fix » Eurozone debt worries leave markets mixed
By FT.com - Energy
Eurozone debt worries leave markets mixed. ... Risk appetite weak as Spanish borrowing costs jump fuelling fears of a reignited eurozone sovereign debt contagion hobbling the region. Read more from Financial Times ...
Fuel Fix

The Spain Pain Will Not Wane: Continuing the Contagion Saga ...
By Reggie Middleton
Just over two years ago I warned that Spain posed a significant threat to the EU area economies. This was a very unpopular stance, and since I'm more of a medium to long term strategist and Spain didn't experience any immediate pain, my ...
ZeroHedge

French Politics: Tiens! Sarkozy Isn't Happy with Eurozone ...
By Arthur Goldhammer
To be sure, Sarkozy aimed his fire at the European Central Bank rather than at the balanced budget treaty, but the thinking is similar: without steps to stimulate growth coupled with accommodation by the ECB, the Eurozone's troubles will ...
French Politics

The View of the Eurozone Crisis From China - Chicago Policy Review
By Tianyi Zhang
Andong Li is a deputy director of the Central Budget Office under the Budget Department at the Treasury of the People's Republic of China. He oversees revenues and expenditures for the central government. He is a prolific author and his ...
Chicago Policy Review

Bernanke Reflects on Policy Response to Financial Crisis - Dodd ...
By WKLB
In a speech before the Conference on “Rethinking Finance: Perspectives on the Crisis,” presented by the Russell Sage Foundation and The Century Foundation in New York City, Fed Chairman Ben Bernanke discussed the financial crisis and ...
Dodd-Frank News Center

Euro crisis: “Barroso absolutely confident that Spain can meet its ...
By Pete Baker
As the Guardian's Eurozone crisis live-blog notes. European Commission president José Manuel Barroso has just been quizzed about the eurozone crisis, at a summit on sustainable energy. Barroso attempted to calm fears, telling his ...
Slugger O'Toole

Market l NZ share tumbled of euro zone jitters | Stuff.co.nz
By Jazial Crossley
The New Zealand share market fell today on fresh concerns about the euro zone debt crisis as Spanish bond yields continued to rise and Asian equities markets traded in the red.
Stuff.co.nz - Business

$A lower on euro zone concerns | WA Business News
By dan.wilkie
The Australian dollar has continued to fall on concerns around euro zone debt and Spanish bond yields. At 1700 AEST on Monday, the Australian dollar was trading at 103.27 US cents, down from 103.85 cents on Friday afternoon.
WA Business News - Latest News

How does the global financial crisis affect consumer decision making?
By University of Chicago Press Journals
Consumers who feel financially deprived are more likely to seek scarce products, according to a new study in the Journal of Consumer Research.
PsyPost

Forex - EUR/USD trims losses after euro zone data By Forexpros
By Forexpros
Forexpros - The euro trimmed back losses against the U.S. dollar on Monday, after better-than-forecast euro zone trade data but concerns over high Spanish borrowing costs kept the single currency under pressure. EUR/USD pulled back from ...
Forex Pros RSS News Feed | Forex News

Romney's Lead Economist Urges Policies that will Cause the Next ...
By William K Black PhD
Romney's Lead Economist Urges Policies that will Cause the Next Financial Crisis. By William K Black PhD04/16/2012. Print. Presidential nominees of either U.S. party can secure economic advice from any economist in the world. This makes ...
Financial Sense

Kenya shilling slips vs dollar, euro zone woes weigh | All Kenya News
By allkenyanews
NAIROBI, April 16 (Reuters) – The Kenyan shilling weakened against the dollar on Monday as the greenback firmed on global markets on the back of renewed euro zone worries, traders said. Market players said expectations that the dollar ...
All Kenya News

Spain Jolts Euro Zone Back on Alert - NYTimes.com
After a disappointing Spanish bond auction, the European Central Bank cited concerns about a slowdown in the economy and a possible resurgence of the ...
www.nytimes.com/.../european-central-bank-leaves-interest-rat...

Bernanke defends Fed response to financial crisis - Yahoo! News
From Yahoo! News: Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the largest U.S. ...
news.yahoo.com/bernanke-defends-fed-response-financial-cris...

Financial Crisis Response In Charts
Page Content. The U.S. Department of the Treasury released its latest cost estimates for the Troubled Asset Relief Program (TARP), which was only one part of ...
www.treasury.gov/.../Financial-Crisis-Response-In-Charts.aspx

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