Markets are looking ahead to Friday's June employment report, and there is little optimism the number will show anything more than a slight gain.
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.
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.
Even with the EU bailout, giving Greece 3-years of breathing room, the market is saying something is not right and that Greece will not be able to avoid some sort of debt restructuring.
Greece is preparing a make-or-break return to the financial markets next month as it plans to raise about 4 billion euros ($4.96 billion) in its first borrowing attempt since last month's bailout, the Financial Times reports.
The move by China to allow a more flexible exchange rate for its currency shows that the danger of a double-dip recession is remote, Bob Doll, BlackRock vice chairman, told CNBC Monday.
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.
The 10 yr German-Spanish debt spread has widened to 218 pts after a reports have circulated regarding Spanish banks massive borrowing from the ECB and the potential for an IMF, EU and US led $250 billion loan to the country (later denied).
The stock market wants to go higher though. It is sloughing off bad news. Be it a headline in the Wall Street Journal that says Spain is in trouble financially, Greece being downgraded by a rating agency or German sentiment taking a downturn, the market forges ahead. I guess bad news is just the formula for a rising market.
The argument is widely heard in Europe and elsewhere: If only Greece and other struggling euro-zone countries could let their currency depreciate, as other collapsing economies have done when hit by debt crises – in Asia and Latin America, for example.
Herman Van Rompuy, president of the European Union, has blamed the strength of the euro in recent years for blinding the eurozone to its underlying fiscal problems. The Financial Times reports.
Rising regulation and economic austerity could produce a toxic mix in 2011. That was the view of many of the bankers that I spoke to last week at the International Institute of Finance spring meeting in Vienna.
Many of the European Union's biggest banks passed Moody's 'stress test' designed to gauge exposure to debt in Greece, Portugal, Spain and Ireland, the rating agency said in a statement Friday.
Portugal raised about 1.5 billion euros yesterday and Spain 3.9 billion euros today in auctions that were surprisingly oversubscribed.
For years, almost nobody paid attention to the sky-is-falling alarms of Edward Hugh, a gregarious British blogger and self-taught economist who repeatedly predicted that the euro zone could not survive. The NYT reports.
Don’t trust a move higher, Cramer says, until these six problems are solved.
Eurozone nations on Monday started setting up a massive bailout fund that could rescue any member of Europe's currency union from default, aiming to soothe market jitters that have sent the euro to a new four-month low against the dollar.
Many of the G20 nations are supportive of a tax on banks and details of the levy should be hammered out over the next few weeks despite growing doubts over the prospects for a multinational agreement, French Finance Minister Christine Lagarde told CNBC Monday.