Barring a last-minute change, Argentina is almost certainly headed for a technical default of its bond-payment obligations at 12:01 Thursday morning.» Read More
Muni Bond Smackdown! Bill Gross versus Meredith Whitney [Bloomberg] "Bill Gross, who manages the world's biggest bond fund at Pacific Investment Management Co., clashed with Meredith Whitney, the banking analyst, when he said he doubted there would be many local-government bankruptcies."
Bumping our Heads on the Debt Ceiling: And the Folks Don't Like it One Bit [CNBC] "The U.S. public overwhelmingly opposes raising the country's debt limit even though failure to do so could hurt America's international standing and push up borrowing costs, according to a Reuters/Ipsos poll released Wednesday. Some 71 percent of those surveyed oppose increasing the borrowing authority, the focus of a brewing political battle over federal spending. Only 18 percent support an increase."
All things Sarah Palin evoke a passionate response: Her 'Blood Libel' comment is no exception. (Wait: Did Palin really say 'pundent'?)
Data from today's Beige Book suggests that "economic activity continued to expand moderately from November through December."
Here are the highlights:
, analyst Meredith Whitney thinks it should cool down.
Implementing dividend hikes now is short-sighted, said Whitney, who spoke in an interview earlier with CNBC .
While banks have done a good job raising cash, they’d be better off putting it to work on overseas acquisitions that would pay off over the long term rather than stuffing it back into investors’ pockets in the short term, she said.
Welcome to the light.
Credit Suisse has launched a new "lit pool"—in contrast with the "dark pools"—which are periodically vilified for their absence of transparency.
Here's the thumbnail summary.
Although the report from the internal business standards committee at Goldman Sachs begins by acknowledging that the financial crisis had a profound impact on Wall Street, American businesses and households, it falls far short of rising to the challenges created by that impact.
Goldman was driven to initiate a review of its business practices and standards by an irony. The firm had outperformed nearly all of its Wall Street rivals, literally outliving some of them, through the financial crisis. It believes its risk management was so good that the firm, perhaps uniquely, had no need for government aid in 2008. Its traders reacted to the bursting of the housing bubble earlier and with more agility than those at any other big firms.
Looks like all the pay for play professional ladies of the night in Amsterdam will soon have a meeting with the tax man.
According to the AP, a notice printed in Amsterdam's main paper, addressed "to landlords and window prostitutes in Amsterdam," stated that Agents of the Tax Service would be visiting the smaller prostitutes' businesses and reviewing their business administration "...such as prices, staffing, agendas and calenders."
Le sigh. Can't win them all ladies.
I would lend my 401K to a Bowery wino—especially at 7 percent interest—if someone with deep enough pockets promised to take me out at par.
The big news in European sovereign debt markets this morning is Portugal's 'successful' bond auction: Lisbon was able to sell €1.25 billion in debt.
On a yield basis, investors priced the Portuguese 10 year notes at 6.71 percent.
The Financial Times points out that the auction cleared below the critical "7 percent threshold" —above which level, "the government has acknowledged is unsustainable".
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Point72 Asset Management, the revamped firm of the billionaire investor Steven A. Cohen, generated a profit of nearly $1 billion for the first half.
Wall Street on Wednesday gets two reads on the economy, one from the Commerce Department and the other from the Federal Reserve.
It may take a while before investors get a clear picture on just how well—or poorly—the U.S. economy is performing.