Richard Kelly, head of European rates at TD Securities, says the euro zone is "one global recession away" from being stuck in deflation.» Read More
The central bank reported that it lost 4.2 billion Swiss francs ($4.0 billion) in the second quarter, partly from its bid to check the rise of the Swiss franc against the weakening euro.
The prehistoric monument of Stonehenge stands tall in the British countryside as one of the last remnants of the Neolithic Age. Recently it has also become the latest symbol of another era: the new fiscal austerity. The NYT reports.
Global youth unemployment has hit a record high following the financial crisis and is likely to get worse later this year, the International Labor Organization (ILO) said Thursday.
The flight to safety following the Fed's decision to extend quantitative easing saw the dollar make big gains against the euro and one strategist said the euro's rally may have peaked for now.
The blame for the uncertainty that surrounds Tuesday’s meeting of the Federal Open Market Committee should perhaps be placed on Federal Reserve Chairman Ben Bernanke's leadership style, or lack of it.
If the Fed opts for quantitative easing, it may force the hands of other major central banks to be even more doveish.
The mid-summer rally is over and stocks will begin a downward leg before bottoming in October, as the world economy is in what looks like a Great Depression, Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC Monday.
For weeks, the money market correctly signaled a reduction in worry about the global banking system, continuing to act more like a liquidity market than a credit market ahead of the release of Europe's stress test results a week ago Friday and in its aftermath. If there's one place worries about banks will show up it is in the money market, where inter-bank rates are set.
The governor of the Hungarian Central Bank has it worse than most. Not only has the new government placed the blame on him, among others, for Hungary's stagnant economy, it has slashed his salary by 75 percent. The NYT reports.
The Federal Reserve will create a "final crisis" by continuing to print money because it is underestimating the strength of the economy, Marc Faber, the author of "The Gloom, Boom and Doom Report," told CNBC Tuesday.
We think there are meaningful differences between the US today and Japan during the '90s. High on our list is the difference in wages. A straight forward construct of inflation reveals employee earnings are a primary driver. During the early part of the 1990s wages in Japan were averaging around 2.0%.
The West is only half the way through a 20-year secular downturn that will not end until the children of the US baby boomers begin to flex their financial muscle in about 10 years time, according to Robin Griffiths, a technical strategist at Cazenove Capital.
A week after the authorities released results of stress tests on the largest European banks, market data is starting to provide an indication of whether the exercise had the desired effect on confidence. The answer: sort of. The NYT explains.
Allowing the Bush tax cuts to expire would be a mistake with the economy trying to grow, James Bullard, president of the Federal Reserve Bank of St. Louis, told CNBC Friday.
Fears over a double-dip recession for the global economy are waning, but investors should be more worried about ultra-loose policy from the Federal Reserve, according to Joachim Fels, the co-head of economics at Morgan Stanley.
Europe has chosen the wrong way to cut debt and unfortunately the United States will follow, Dennis Gartman, author and publisher of the Gartman Letter, told CNBC Wednesday.
Does the price action on major banks in Europe tell investors that the continent is now not a threat to risk appetite and that Wall Street can mount a sustained rally without a repeat of May’s negative blow-up?
No way only 7 of 91 European banks could pass a real stress test. No way could only €3.5 billion in new capital be needed. When the US tested 19 banks a little while ago, 10 were found to be deficient, and $75 billion in new capital had to be raised. It's ok if everyone at MIT passes every test.
After a highly anticipated week of leaks and rumors over how many, and which banks, will pass or fail the "stress test", the results are in. Only seven of 91 European banks flunked. Such a surprise... well, not really.
The pan-European stress tests on the banking sector were not tough enough to reflect future worsening conditions for the continent's economy, Nouriel Roubini told CNBC.com.