Aug 13 2012 @ 09:03
After any bear run in shares some folks always grab headlines by saying we have seen “The Death of Equities.” Heck, you have lost your shirt it sounds believable. And so when major bond investor Bill Gross proclaimed the Death of Equities on August 1st he grabbed the headlines. Before you rush out to buy […]
Aug 13 2012 @ 05:27
The Governor of the Bank of England Sir Mervyn King has said there is “no obvious end in sight” to the on-going euro crisis, creating a series problem for a UK recovery. Writing in the Mail on Sunday Sir Mervyn argued that “if the rest of the world were growing normally, the rebalancing and recovery […]
Aug 10 2012 @ 05:05
Global economic data released yesterday and this morning seems to confirm Europe is inching ever-closer to the financial abyss. The European Central bank cut its predicted growth rate for next year from one per cent to just 0.6 per cent yesterday, whilst June’s UK trade deficit was confirmed as the largest since records began, £4.3 bn. Trade […]
Aug 08 2012 @ 04:30
Global stocks rose to a three-month high Tuesday, following the ECB’s indication it may start buying government bonds again to east pressure on Spain and Italy. As of this morning at least, leading indices and the euro continued to hold gains. The collapse of Standard Chartered’s share price has been cited as the cause of stopping markets from making […]
Aug 07 2012 @ 09:20
The White House has stated that Spain faces “difficult challenges” following a discussion between President Obama with Spanish Prime Minister Mariano Rajoy. European markets have responded positively and the euro close to a five-year high. President Obama and the Spanish Prime Minister’s talk follows earlier discussions with French President Francois Hollande and Prime Minister Mario […]
Aug 06 2012 @ 03:34
Italian resentment toward Germany is growing, putting the eurozone, and the European Union, at risk of a catastropic break up, Italian prime minister Mario Monti has claimed. Monti told Der Spiegel magazine tensions “bear the traits of a psychological dissolution of Europe”. Asked about a strengthening resentment between southern European states and thriftier northern bloc […]
Aug 03 2012 @ 04:52
Markets fell sharply yesterday after the European Central Bank (ECB) disappointed investors, hoping for quick action to contain the region’s ongoing debt crisis. ECB president Mario Draghi, who last week pledged to do whatever it takes to save the euro, said the central bank would gear up to buy bonds on the open market, but […]
Aug 02 2012 @ 07:06
The average yield on 10-year Spanish bonds has risen to 6.65%, a 0.22% from a bond sale in July. In addition to a yield increase demand for bonds fell from 3.2 times the amount of bonds last month to 2.4. It is expected that the European Central Bank will start buying Spanish and Italian bonds […]
Aug 01 2012 @ 04:48
US treasury secretary Timothy Geithner has argued that Europe has the means and commitment necessary to resolve the continuing euro debt crisis. Arguing that Europe still needed to bring down interest rates Mr Geithner said that European leaders have “signalled they are prepared to move further” than they previously have done to address the crisis […]
Jul 31 2012 @ 03:01
July 2nd ECB executive board member Jörg Asmussen has warned that progress to resolve the Greek financial crisis has “virtually stalled” over the last three months since the last bailout agreement. July 3rd Plans for an EU-wide banking union overseen by the European Central Bank, (ECB,) lack required details to ensure they succeed, credit ratings […]