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The unprecedented action by European politicians and bankers has led to a massive sigh of relief from investors, because the ECB is promising to buy European government debt—in the open market—for the first time ever.
Recall that many global markets and several sectors hit highs in April - before accumulating losses through Friday's trading.
Europe's $1 trillion bailout fund might alleviate some of concerns that its debt problems could spread to the US, Philadelphia Fed President Charles Plosser told CNBC Monday
Twenty-seven European nations and the IMF agreed to a mammoth E750 billion plan to stabilize the financial markets.
With Europe giving the greenlight to a $1 trillion emergency rescue package, has the bull been given the all clear? Will stocks resume their climb higher?
The expected surge in share prices this morning is accompanied by sighs of relief and breathless anticipation of new highs. THIS IS NOT RESILIENCE! This is the effect of a trillion dollar injection. It represents new debt and commitments to support governments that have not lived within their means.
By establishing a 750 billion euro fund to bailout Greece and aid other struggling governments, Germany and other strong European states are chasing a dream—a single European currency and broader European unity—that may have no place in reality.
As the market dropped our team was watching. A car wreck is a much too pleasant analogy. I was at my desk in 1987, 1989, 9/11, 2008, and I’ve never witnessed what I witnessed yesterday.
For the market to plunge 1000 or so points and then rebound a good bit of the way back is rattling.
Despite Thursday's unexplained surge in selling that drove the Dow down 900 points, the stock markets are being driven lower by fears over the global economy and the debt crisis spreading, economist Nouriel Roubini, of RGE Monitor, told CNBC Friday.
The suspected erroneous trades that exacerbated the Wall Street's fall on Thursday should be investigated and solutions must be found if the New York Stock exchange is to maintain its reputation, investor Jim Rogers told CNBC late Thursday.
'Eurocrats' can't see the fanciful construction of the euro is going to collapse, just like the 1930s gold bloc, says this economist.
Panic has gripped stock markets worldwide over the Greek debt crisis and the threat of a debt-deflation contagion through banks in Europe (primarily) and the U.S. that own the bonds of Greece, Portugal, Spain, and so forth. If these bond asset prices collapse totally, lending facilities would be badly crimped for both the short and long term.
Faithful readers of my weekly market commentary know that I value the opinion of PIMCO bond manager Bill Gross. Gross has compiled a terrific record as a fixed-income manager, and he regularly proves to be ahead of the curve on issues affecting the global economy.
A mood of resignation pervaded the crowd outside the Greek parliament building on Thursday, after lawmakers passed far-reaching three-year budget cuts to deal with Greece’s teetering economy.
Lazard has been hired to assist Greece with its finances. The speculation is Lazard has been hired to assist Greece with a restructuring of its debt. That, of course, has been denied. These guys always deny, deny, deny until it's done.
Once passed, the bill will be signed into law and then presented to the Euro Zone meeting on Friday night. There is likely to be a constitutional challenge to the agreement, but this will not impede the flow of money to Greece.
Fear trumped greed on Wednesday with both the S&P and Dow closing in negative territory. Should you buy the weakness or run for the hills?
The ink was barely dry on the $150 billion EU/IMF bailout of Greece when world stock markets tanked on two major fears.
The market is already beginning to ask if the German public and the EU have the stomach for a rescue package for Portugal, Spain, Ireland and even for Italy.