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

Thursday, September 27, 2012

Stocks slide on renewed Europe debt fears, Spain yields jump


Sept. 26 (Bloomberg) -- On today's "Street Fighter," Citigroup Institutional Clients Group's VP Carlos Gutierrez, TF Market Advisors' Founder Peter Tchir and Scout Investments' Portfolio manager Michael Stack talks about the impact of the European debt crisis on the markets. They speak on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Stocks slide on renewed Europe debt fears, Spain yields jump
Reuters
NEW YORK (Reuters) - World shares fell sharply and the euro slipped to a two-week low on Wednesday as growing opposition in Europe to measures aimed at resolving the euro zone's debt crisis unnerved investors already skittish about the weak outlook for ...

FTSE 100 loses £23.2bn as Spain fears rock European markets - Telegraph: "The FTSE 100 lost £23.2bn on Wednesday as mounting concerns over Spain and fresh strike action in Greece sent European investors heading for the exit."

Spain's crisis flares again as AAA club scuppers bank rescue deal - Telegraph: "Spain's debt crisis has returned with a vengeance after Germany, Holland and Finland reneged on a crucial summit deal and scuppered hopes of direct eurozone help for Spanish banks."

Not even the great economists of history can get us out of this fix - Telegraph: "To think that central bank money-printing offers a largely pain-free way out of our economic difficulties is sadly deluded. Carried to extremes, it ends in hyper-inflation, and in any case, in an era of low growth and the progressive loss of Western employment to technology and foreign competition, it does nothing for living standards. Wages may lag prices for years to come. Friedman offers some plausible solutions, but even he cannot magic away the consequences of years spent living high on the hog. One way or another, a price has to be paid." 

Greek general strike and debt crisis - as it happened, September 26, 2012 - Telegraph: "European markets slump as protesters take to the streets of Greece in a general strike and Spanish yields hit 6pc over austerity protests."

PRECIOUS-Gold inches up on stimulus support; euro zone weighs
Reuters
Euro zone debt crisis returns to spotlight; euro sluggish * Gold investment interest boosts; SPDR holdings hit record * Coming up: U.S. new home sales; 1400 GMT (Adds comments, details; updates prices) By Rujun Shen SINGAPORE, Sept 26 (Reuters) ...

Debt crisis: Spanish GDP falling at 'significant pace' - Telegraph: "Spain's recession is deepening with economic output sliding at a "significant pace" in the third quarter of this year, the Bank of Spain warned on Wednesday."

Reuters
If a way is not found to break the link between sovereigns and their banks, the euro zone will forever be in an uphill struggle to get on top of the crisis since government finances will always be saddled with vast amounts of bad banking debt ...

ECB will not fill Greek budget gaps, says Bundesbank president - Telegraph: "The European Central Bank will not fill potential financing gaps in Greece's budget, Governing Council member Jens Weidmann said on Wednesday."

Oil falls below $110 on euro zone crisis
CNBC.com
Text Size. LONDON (Reuters) - Brent crude oil fell more than $1 per barrel to below $110 on Wednesday, weighed down by a stronger dollar, worries over growth and the euro zone debt crisisas Greece faced its biggest anti-austerity strike for months.

European lawmakers warn of banking union split
Reuters
BRUSSELS (Reuters) - Creation of a banking union to help resolve the euro zone debt crisis could lead to a split within the wider European Union, lawmakers in the European Parliament warned during a debate that laid bare the extent of tensions in the ...

EMERGING MARKETS-Latam currencies weaken on euro zone fears
Reuters
... for Prime Minister Mariano Rajoy to request international financial aid -- a condition for Spain to receive support from the European Central Bank. Investors fear that a delay in the ECB bond-buying program would further complicate the euro-zone ...

Euro extends decline, how far could it go?
NASDAQ
FXstreet.com (Córdoba) - The euro fell to a 2-week low against the dollar on Wednesday, as worries over the euro zone debt crisis persist and markets are back to trading at the rhythm of European headlines. With Spain in the eye of the storm, the ...

TREASURIES-Prices rise as euro zone fears resurface
Reuters
"This is the first small crack we've seen in the EU bond market since the beginning of August," said Jim Vogel, interest rate strategist at FTN Financial in Memphis, Tennessee. The yield on ... With Spain's borrowing costs rising again and a key region ...

Wall Street lower on euro zone fears but off session lows
Reuters
Meanwhile, Greece faced its biggest anti-austerity protest in more than a year as international lenders admitted to difficulty in working out how to solve Athens' debt crisis. "There is still a real risk that Europe has to make some decisions that ...

Europe Factors to Watch-Stocks set to drop at open
Reuters
European stocks have risen sharply since early June - with the euro zone's blue chip Euro STOXX 50 index gaining 25 percent - boosted by bold action from the European Central Bank and the U.S. Federal Reserve to fight the euro zone debt crisis and ...

The continuing euro zone sovereign debt crisis | East Asia Forum
Author: Quentin Grafton, BREE and ANU The financial troubles in the euro zone are an on-going series of sovereign debt crises that originated in countries.
www.eastasiaforum.org/.../the-continuing-euro-zone-sovereig...

Oil falls below $110 on euro zone crisis Latest News - Editorial ...
Brent crude oil fell more than $1 per barrel to below $110 on Wednesday, weighed down by a stronger dollar, worries over growth and the euro zone debt crisis ...
www.cattlenetwork.com/.../Oil-falls-below-110-on-euro-zone-...

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