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

Friday, April 6, 2012

Spanish yields rise as ECB 'sugar rush' burns off

Spanish yields rise as ECB 'sugar rush' burns off - Telegraph: "Spanish borrowing costs have soared to five-month highs, leading to fears that the "sugar rush" of the European Central Bank's (ECB) €1 trillion (£825bn) loan programme has already burned off." 

Euro Zone Heading for Another Hot Summer
Wall Street Journal
By SIMON NIXON Welcome back, euro crisis. Euro-zone bond and equity markets enjoyed a remarkable rally after the European Central Bank agreed to flood the banking system with cheap three-year loans in December. But now that Spanish bond yields are back ...

GLOBAL MARKETS-Euro dips, bonds rise on euro zone worries
Reuters
For US stocks, offsetting some concern about the euro zone was data showing the number of Americans lining up for new jobless benefits fell to the lowest in nearly four years last week. Analysts said the claims data and a report on private-sector jobs ...

US STOCKS-Futures down on euro zone worry; jobless claims in focus
Reuters
Concerns mounted about Spain and its ability to meet budget targets, hitting the euro zoneperipheral indexes. Poor demand at a Spanish bond sale on Wednesday heightened fears about funding difficulties for weaker euro zone countries, with investors ...

GLOBAL MARKETS-Euro, global stocks dip on euro zone concern
Reuters
Offsetting some concern about the euro zone for US stocks was data showing the number of Americans lining up for new jobless benefits fell to the lowest in nearly four years last week. Spain's IBEX 35 index fell 0.1 percent and touched a 7-month low as ...

US STOCKS-Wall St flat as euro-zone concerns weigh
Reuters
That heightened fears about funding difficulties for weaker euro-zone countries, with investors seeing an easing of the effects of the European Central Bank's huge liquidity injections. "The main story today will likely continue to be the situation ...

Suicide rate jumps amid European financial crisis
CBS News
(MoneyWatch) When an elderly Greek man killed himself on a busy Athens street Wednesday, he left a note blaming the nation's financial crisis. Tragic acts like this are increasing across Europe, as worsening economies are causing rising rates of ...

CBS News

US STOCKS-Wall St set for lower open on euro zone concerns
Reuters
Poor demand at a Spanish bond sale on Wednesday heightened fears about funding difficulties for weaker euro zone countries, with investors seeing an easing of the effects of the European Central Bank's huge liquidity injections.

Euro dips, bonds rise on euro zone worries
Reuters
By Caroline Valetkevitch | NEW YORK (Reuters) - The euro hit a three-week low against the dollar and bonds edged higher on Thursday as Spain's debt burden fueled worries about further problems for euro zone economies and curtailed investors' appetite ...

MONEY MARKETS-Spanish bank CDS jumps as contagion risks spread
Reuters
* CDS on debt from Santander, BBVA jump over past month * Spanish sovereign CDS also rises on fiscal concerns * ECB exit strategy seen a way off By Ana Nicolaci da Costa LONDON, April 5 (Reuters) - The cost of insuring debt issued by Spanish banks ...

Spain back in the crosshairs of euro-zone crisis
Washington Post
In the past month, the borrowing costs faced by Spain — the fourth-largest economy in the euro zone — have increased sharply, renewing fear that the European financial crisis could dangerously escalate. An auction of Spanish five-year and 10-year ...

Asian Shares End Mostly Lower On Euro-Zone Woes; Banks Struggle In Hong Kong
Wall Street Journal
By Sarah Turner in Sydney and Nick Godt in Mumbai MUMBAI (MarketWatch)--Asian stock markets ended mostly lower Thursday with Chinese banks struggling in Hong Kong, as European sovereign debt concerns resurfaced after a dismal result from Spanish bond ...

Rising euro zone fears drive US T-notes higher
Reuters
LONDON (Reuters) - Treasuries rallied strongly on Thursday as a flare-up of euro zone debt fears sent investors scurrying for safe havens, overriding expectations for strong US payrolls data. Treasury futures were half a point higher at 129-28/32, ...

Eurozone woes lead to market downturn
Examiner.com
Eurozone markets have opened low today on the news of Spanish debt and tensions in Greece. In Syntagma square in Greece a 77 year old protestor and pharmacist shot himself to death in the Square, leaving a suicide note. The suicide has sparked more ...

Treasuries Rise 2nd Day on Speculation Euro Crisis Is Worsening
San Francisco Chronicle
'With a Vengeance' "The second quarter was always going to bring back euro- zone risk with a vengeance," said Marc Ostwald, a fixed-income strategist at Monument Securities Ltd. in London. "The diminishing prospects for more US quantitative easing, ...

CANADA FX DEBT-C$ softens on euro zone fears; eyes jobs data
Reuters
... April 5 (Reuters) - Canada's dollar softened slightly against its US counterpart on Thursday, weighed down by worries about the financial stability of the euro zone, while investors also awaited the release of domestic and US jobs data.

Detroit union leaders say workers are scapegoats in city's financial crisis
Detroit Free Press
By Matt Helms and Kathleen Gray Leaders of Detroit's powerful municipal unions said Wednesday that their workers are being made the scapegoats of the city's financial crisis and will take the brunt of the punishment of a consent deal that almost ...

Stock futures down on euro zone worry; jobless claims in focus
WXEL
By Angela Moon NEW YORK (Reuters) - Stock index futures fell on Thursday as a rise in Spanish bond yields renewed concerns about the euro zone's financial health, and as investors awaited report on jobless claims. Concerns mounted about Spain and its ...

Wall Street flat as euro-zone concerns weigh
Economic Times
NEW YORK: US stocks were little changed on Thursday despite data showing ongoing improvement in the US labor market, as a rise in Spanish bond yields renewed concerns about the euro zone's financial health. The number of Americans submitting claims for ...

France borrowing costs rise as eurozone debt nerves return
Economic Times
PARIS: France raised 8.4 billion euros ($11 billion) in an auction of medium and long-term debt on Thursday, paying higher rates as eurozone debt concerns pressured weaker members such as Spain. The French debt management agency said it had to pay ...

Euro Eyes 1.3000 Amid Contagion Threats, Sterling To Maintain Trend
TheStreet.com
Indeed, the yield tied to Spain's 10-Year debt rose to the highest level since the European Central Bank conducted its first Long Term Refinancing Operation in December, and the threat of contagion is likely to put increased pressure on the Governing ...

Asian Markets Trade Lower On Renewed Eurozone Worries
NASDAQ
(RTTNews.com) - Asian stock markets are mostly trading lower on Thursday, extending losses from the previous session, on renewed concerns about the Eurozone debt crisis following a weak Spanish bond auction. Investor sentiment was also dampened, ...

TEXT-Fitch: Euro banks say no tanks to US MMF, project finance
Reuters
(The following statement was released by the rating agency) April 5 - Fitch Ratings' research has shown that US prime money market funds (MMF) have moderately increased their exposure to Eurozone banks over the past few months after significantly ...

WORLD FOREX: SNB Euro Floor Breached As Euro-Zone Jitters Resurface
Wall Street Journal
LONDON (Dow Jones)--The euro sank in European trading Thursday, touching multi-week lows against other major currencies and briefly breaching the Swiss National Bank's floor at CHF1.20 for the first time since its introduction last September.

Policy Clarity Should Hurt Euro Now
Wall Street Journal (blog)
But as yield expectations between the US and the euro zone diverge in weeks to come, the single currency could find support slipping away. The ECB president's refusal to rule out more monetary easing was fairly predictable. Weak euro zone data, ...

Spain becomes focus as euro debt fears return
Huffington Post
A Spanish bailout would be far more difficult for the country's partners in the 17-country eurozoneas its economy is twice the size of the three countries that have already needed a financial rescue. These fears have pushed up the cost at which Spain ...

Risks to euro zone remain, warns ECB's Draghi
Business Day
THE European Central Bank (ECB) warned yesterday there was a risk economic stabilisation in the euro zone could falter, while prices were not likely to fall below the 2% inflation target until next year. "The economic outlook remains subject to ...

Nikkei hits 4-week low on renewed euro zone worries
Reuters
On Wednesday, Spanish borrowing costs jumped at a bond auction, raising fears that the euro zone debt crisis may flare up again and suggesting that the effects of a liquidity injection that has bolstered risk assets so far this year may be waning.

April 5, 2012: New Eurozone fears weigh on markets
By mike.yamamoto@optionmonster.com
A strong dollar is pressuring U.S. equity futures for the second day in a row, again because weakness in Spanish bonds is sparking fears that the Eurozone crisis is still not contained.
optionMONSTER News

Fossil Fuels Still Attractive Despite Financial Crisis - MarineLink
New York - Demand for oil and natural gas continues to grow, despite the current economic downturn, indicating a positive future.
Maritime News - Maritime & Shipbuildi...

A divorce settlement for the Eurozone
By Jim
By Arnab Das and Nouriel Roubini 2 April 2012. The European Central Bank has averted disaster, sparking a powerful relief rally – but nothing fundamental has been resolved. Greece may need another debt restructuring; Portugal and ...
Desdemona Despair

Dollar mixed vs. rivals, focus on euro zone By Forexpros
By Forexpros
Forexpros - The U.S. dollar was mixed against its major counterparts on Thursday, as risk sentiment waned amid sustained debt concerns in the euro zone while the greenback remained supported by lower expectations for monetary easing ...
Forex Pros RSS News Feed | Forex News

EuroView: Can Single ECB Policy Work In A Diverging Eurozone ...
By Market News International
By Jack Duffy PARIS (MNI) - The European Central Bank's one-size-fits-all monetary policy is not fitting the Eurozone too well these days.
ForexLive

MONEY MARKETS-Spanish bank CDS jumps as contagion risks - XE
The cost of insuring debt issued by Spanish banks against default has risen sharply over the past month, as a tough budget this week did little to soothe concerns over the country's deteriorating fiscal situation.
XE Forex News

Eurozone is in recession
LONDON — Eurozone businesses floundered in March and growth among Asian firms cooled, but data on Wednesday portrayed a resilient US jobs market last month, underscoring widening fault lines in the global economy.
Khaleej Times : Business News

FTSE 100 falls on euro zone jitters - Proactiveinvestors (UK)
UK stocks fell this morning as traders turned attention back to the euro zone debt crisis. The blue chip FTSE 100 index stood at 5676 at midday, down 27 points (0.5 percent) from Wednesday's close.
Proactiveinvestors United Kingdom...

NAICU - Student loan debt may be next financial crisis
Student loan debt may be next financial crisis. Scripps Howard News Service - Editorial. April 5, 2012. The average student loan debt is $25000, up 25 percent in 10 years, and more than 80 percent of those loans are government guaranteed, ...
NAICU News Room

EU CRISIS: MARIO MONTI BLAMES GERMANY & FRANCE FOR ...
By John Ward
Eurozone Chumpions Knockout Cup. Italy 1 Frankmany 0. From the safety of Japan, Italian Prime Minister Mario Monti yesterday told the media there that because the eurozone's two largest players –Germany and France – broke all the fiscal ...
The Slog

Euro zone unemployment reaches near 15-year high - Yahoo! News
From Yahoo! News: BRUSSELS (Reuters) - Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million ...
news.yahoo.com/euro-zone-unemployment-reaches-near-15-h...

Economist's View: "The Global Financial Crisis – What Caused the ...
What caused the financial crisis, low interest rate policies of central banks or global imbalances, i.e. the savings glut? This research finds that central banks are ...
economistsview.typepad.com/.../the-global-financial-crisis-wh...

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