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The European Central Bank loaned banks 131.9 billion euros ($161.4 billion) at its 3-month lending auction Wednesday, below expectations, sending the euro higher against major currencies.
Investors everywhere were stashing whatever money they had into anything that might provide safety. Reflecting on those terrifying days of yore, you might understand why so much buying pressure amid market panic may have driven yields so low, but what about now?
Stocks are dropping over concerns over Spanish bank funding, lower China growth, IMF warning on Austria, SF Fed warning on US states, and strikes in Europe.
The assumption that European governments will never do something like the US allowing Lehman Brothers to fail in September 2008 is trumped by the fiscal reality, Niall Ferguson, Harvard University professor and author, told CNBC Tuesday.
Investors should position their portfolios for a sharp rally in bond prices because stock and commodity markets are heading for a "cliff-edge," Andrew Roberts, head of European rates strategy at RBS, told CNBC Tuesday.
Spanish banks have been lobbying the European Central Bank to act to ease the systemic fallout from the expiry of a 442 billion euros ($542 billion) funding program this week, accusing the central bank of “absurd” behavior in not renewing the scheme.
The credit team at RBS in London are getting very bearish and warning clients to "get ready for the cliff-edge," where prices of stocks and commodities will "collapse." RBS is advising investors to get into maximum long-duration bonds in safe-haven markets. "This means the US, UK and Germany in that order," according to RBS.
As reports resurface that Greece is considering selling leases to some of its islands to pay down debt, fears are growing that the euro zone member could restructure its debt over the summer months. But analysts disagree, saying this would be bad for German banks.
Jerome Kerviel was a pawn in a mind-boggling financial system that pushed him to take risks, lawyer Olivier Metzner argued on the last day of the trial of the former Societe Generale trader.
Is the world going back to a gold standard? Not really. But with central banks around the globe holding more gold in reserve, it certainly has people talking.
Banks in Portugal, Ireland, Greece and Spain account for over two-thirds of the euro area liquidity injections since the middle of 2008, according to new research from RBS Marketplace.
The euro is a very credible currency that has kept its value from its debut and has guaranteed price stability, he said. "A currency that guarantees such stable prices, it's of value in the eyes of domestic and international investors," Trichet said.
The rebound of Europe's single currency may be jeopardized by reports over the weekend that France and Germany are mulling a two-tier euro zone, ING Bank analysts said Monday.
I’ve been warning about for some time about how doing stress tests are great, but there are at least two more steps that need to be taken for reduction of uncertainty over European banks and countries.
Guess what? The funniest thing happened in Europe on Thursday. A new country joined (yes, joined) the euro zone. And the mood here was upbeat. Estonia will begin using the euro on Jan. 1.
The public outcry over national deficits has spurred international fiscal policy makers in some countries to impose austerity measures unnecessarily, Paul McCulley, managing director at Pimco, told CNBC Wednesday.
The Collins amendment, requiring fixed capital ratios for some banks, to the financial regulations reform bill isn’t needed, the Robert Kelly, the CEO and chairman of Bank of New York Mellon , told CNBC Wednesday.
Some German millionaires and billionaires want to give up 10 percent of their income to help fix the budget mess in Europe. Would such a plan ever work in the United States?
Another solid close for European bourses today, with many markets closing at or near session highs.
The euro is barely intact, and rescuing the banks only worsened the financial crisis, Roger Nightingale, strategist at Pointon York, told CNBC on Tuesday.