Déjà Vu All Over Again: Re-Inflating The Credit Bubble?(Wall Street Journal) As investors suck up debt, yields fall. But has anyone bothered to read the indentures?
Fed Contemplates Further Cash Injection to Push Down Interest Rates at The Longer End of the Yield Curve(New York Times) Speculation is rife that the U.S. Federal reserve will pursue further quantitative easing to hold down long term interest rates.
Goldbugs Rejoice (Financial Times) Global QE means higher Au
Brits Assess Feasibility of Centralized Calculation And Deduction of Withholding Taxes(CNBC) In England, Big Brother may be more than watching: he just might start calculating — and deducting —your taxes. Guess what? There are huge privacy and security risks.
Less Trading, Fewer Underwritings Mean Lower Profits on Wall Street(CNBC)Just when you thought it was safe to go back in the water, the risk of a double dip rises. After increasing headcounts, banks may need to start cutting jobs.
“Troika” of Supranational Agencies Delays Greek Stress Test(CNBC) The International Monetary Fund, European Commission, and European Central Bank have agreed to hold off Greek solvency tests for Greek banks until the end of October. National Bank of Greece, the oldest and largest commercial banking group in the country, will go ahead with its $2.23 billion capital raise as planned.
Two Largest Asian Economies Squabble at Sea(New York Times) China & Japan engage in recriminations, protests after Japanese coast guard arrests Chinese trawler captain. “Highly emotional” territorial issues are at stake, according to the NYT.
Not enough to worry about? (New York Post) NYC’s natural gas infrastructure may be ready to explode, just like in SF. Our aging gas lines are “ready to blow” according to the NY Post.
CNNMoney.com Picks Bank Stocks... (CNN) Paradoxically warns credit crisis not over.
Dollar at 17 Month Low Against The Euro(Bloomberg) Analysts blame the usual suspects: U.S. housing market, weak recovery, and uncertainty at FOMC.
Krugman Rails Against The rich. Again. (New York Times)