The $6.6 billion bailout of Portugal’s largest bank poses a warning on exposure to “fragile” emerging markets, analysts have cautioned.» Read More
With dramatic headlines of Greek troubles spreading and the euro hitting fresh lows against the dollar, the situation grows more critical each day. But today's news only highlights a part of the problem.
But that’s no reason to sell stocks, he says. Here’s how you survive the debt tsunami crossing the Atlantic.
Stocks ended higher after the Fed left interest rates unchanged and kept the "extended period" language in its statement. Financials were the day's best performers, with JPMorgan and Bank of America leading the Dow.
Stocks advanced Wednesday, with banks rebounding after a sharp selloff in the previous session after both Greece and Portugal had their debt ratings downgraded. Bank of America and JPMorgan were among the early leaders on the Dow. Dell skidded.
U.S. stock index futures pointed to a lower open Wednesday in the wake of a sharp selloff in the previous session caused by another Greek debt downgrade, but comments from the Federal Reserve could change momentum later.
Plus, get calls on the banks, autos, retail and more.
With Greek debt continuing to soar at record levels, there is growing concern in some European markets that they too will soon face the same problems.
Portugal and Spain provide as good as an example as The Netherlands. In both countries, the drug is illegal, but you'd never know it based on some quirky technicalities. The general trend is about prevention, not punishment.
Speculators have begun to zero in on another small member of Europe’s troubled monetary zone, the New York Times reported, highlighting the same economic flaw that brought Greece to the verge of insolvency.
The risk of default for Greek debt is priced much higher than that of Eastern European countries like Romania or Turkey. But Greece is rated investment grade while the two Black Sea countries are rated below investment grade.
abstract for story goes here
Greece's mounting fiscal problems remain in focus, with investors today eyeing a possible bailout plan led by Germany and France. Closing Bell kicks shines the spotlight on the PIIGS (Portugal, Ireland, Italy, Greece & Spain) of Europe and discusses where the biggest risks are.
The Greek government's second bond auction of the year will be one of the key drivers of global markets over the coming days. While no date is yet set, Athens must raise significant funds via bond sales or face the prospect of default.
Much as I am sick of bailout nation, and bailout global nation, the European rescue of Greece was probably necessary to stop a total euro currency meltdown that might have triggered a worldwide debt deflation downward spiral.
I’m trying hard to remain optimistic about economic recovery here in America — and for that matter, around the world.
Apparently, the Greek government has called in the big hitters to help them with their fiscal dilemma.
The rise in Greek yields is a clear warning markets are in the mood to 'punish any country that takes creditors for granted. '
Amid fears that go-it-alone moves such as President Barack Obama's plan to break up big banks will further hamper the fledging economic recovery, finance ministers and central bankers from the Group of Seven major industrial countries meet.
Portuguese authorities' favorite expression is: Portugal is not Greece. Everybody, from the country's central bank governor to economists in private banks, says this.
Why would you ever want to be President? Everyone who comes to the job does so with some vision and dream and quickly has to learn how to dance the dance if anything is to be done. It's harder now than ever with the accumulated debt we have built up.