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

Friday, September 14, 2012

Wall Street Loves Quantitative Easing

Why Wall Street Loves Quantitative Easing - Rick Newman (usnews.com): "Wall Street honchos, like people nearly everywhere, have also become cynical about Congress or any other part of the government doing anything soon to resolve Washington's huge debt problem, improve the business environment, or otherwise aid the economy. "Policymarkers are not going to get serious about solving these problems until the economy and the public feels some pain," said David Greenlaw, chief U.S. fixed income economist for Morgan Stanley, at the Stern event."

Debt crisis: Greece will need a third bail-out - Telegraph: "Greece will need a third bail-out if it is to avoid running out of cash, according to the country's representative at troika negotiations, as he revealed that only 22pc of the country's planned austerity cuts were implemented last year."

G20: growth in world's most powerful economies slows - Telegraph: "Economic growth in the top G20 countries slowed to 0.6pc in the second quarter of 2012 from 0.7pc in the first quarter, with slow and weak growth set to continue, the OECD said on Thursday."

ECB pledge pushes Italy yields down at auction
Reuters
MILAN (Reuters) - Italian three-year borrowing costs fell to their lowest in almost two years at an auction on Thursday, adding to signs the euro zone's debt crisis has been tempered by bold action by the European Central Bank. The Treasury also paid ...

Debt crisis: as it happened - September 13, 2012 - Telegraph: "Federal Reserve chairman Ben Bernanke has announced a third round of quantitative easing in a bid to help America's weakening economy, as the IMF warns that Greece will need a third bail-out."

German Court's Backing Bailout Fund to Test EU Resolve
Businessweek
German backing for Europe's bailout fund quickened the bargaining over a bond-buying program for Spain, testing the resolve of government leaders and the European Central Bank to conquer the debt crisis. ... After yesterday's “Super Wednesday” in ...

German Court's Backing Bailout Fund to Test EU Resolve on Crisis
San Francisco Chronicle
After yesterday's “Super Wednesday” in crisis politics marked by relief over the German supreme court's endorsement of the 500 billion-euro ($645 billion) rescue fund, the question of a credit line or full loan program for Spain is set to dominate a ...

IMF's Shinohara: Europe debt crisis still biggest risk
Reuters
TOKYO (Reuters) - A senior IMF official said on Thursday that the euro-zone sovereign debt crisis remains the biggest risk to the global economy, but he does not expect China's economy to suffer a hard landing. IMF Deputy Managing Director Naoyuki ...

SNB sticks firm to franc cap, cuts growth outlook
Reuters
ZURICH (Reuters) - The Swiss National Bank cut its growth and inflation forecasts on Thursday and gave little sign of any faith that the euro zone's debt crisis had eased enough to let its franc currency float freely again against the euro. After its ...

ECB's Demetriades Says OMT Program Is Decisive Step Forward
Bloomberg
European Central Bank Governing Council member Panicos Demetriades comments on the sovereigndebt crisis, the ECB's new bond-buying program and the euro-area economy. Demetriades, who heads the Central Bank of Cyprus, spoke in an interview ...

Forex options less optimistic on dollar as Fed looms
Reuters
NEW YORK (Reuters) - Expectations for more U.S. stimulus and diminished fears of the euro zone debt crisis has options investors souring on the dollar in favor of the euro. The euro hit a four-month high against the greenback on Wednesday, bolstered by ...

Dutch PM wins election, tough fiscal stance likely
Chicago Tribune
AMSTERDAM (Reuters) - Dutch Prime Minister Mark Rutte, one of the few European leaders to survive an election during the euro zone crisis, is expected to form a coalition with his close rival, Labour, and stay committed to a policy of fiscal discipline ...

Forex Trading: Euro Extends Gains Following Court Ruling
Daily Markets (blog)
Euro Extends Gains Following Court Ruling. The euro shot up to a fresh four-month high against the US dollar yesterday, following a German constitutional court ruling that supported the ECB's plans to combat the euro-zone debt crisis. The court ruling ...

Video: Euro Zone Steers Debt Crisis Obstacles - NASDAQ.com
Euro Zone Steers Debt Crisis Obstacles. European Union chiefs can breathe a sigh of relief - another obstacle to their plan for tackling the debt crisis has been ...
www.nasdaq.com/video/video.aspx?vid=Euro-Zone...

U.S. money funds add euro zone debt in August: JPMorgan ...
... money market funds added to their holdings of euro zone bank debt in August with some reduced worries about contagion from the debt crisis in the euro zone ...
www.chicagotribune.com/.../sns-rt-us-markets-usa-moneyfund...

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