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Friday, 18 May 2012 11:32 |
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Moody's Investors Service has today downgraded by one to three notches the long-term debt and deposit ratings for 16 Spanish banks and Santander UK PLC, a UK-domiciled subsidiary of Banco Santander (Spain) SA. The rating downgrades primarily reflect the concurrent downgrades of most of these banks' standalone credit assessments, and in five cases also Moody's assessment that the Spanish government's ability to provide support to the banks has reduced.
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Thursday, 17 May 2012 10:49 |
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From Goldman Sachs:
The Greek adjustment programme is likely to soon come to a premature end, given the highly unstable political situation in Greece. With payments from the troika suspended as a result, Greece will neither be able to finance its primary deficit nor meet its debt servicing obligations.
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Thursday, 17 May 2012 08:05 |
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The secular bear market in stocks that began during the autumn of 2000 is at an end; at least, that’s the verdict of the uber-bulls, who argue that a sustained multi-year upswing in equity prices is now underway. Unfortunately, the bullish thesis is predicated on suspect assumptions; perhaps none more so than the argument that the individual investor – following four consecutive years of net outflows – is set to embrace the stock market once again. This view is not supported by the historical evidence however, and displays an almost complete ignorance of individual investor behaviour amid a protracted period of sub-par returns.
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Monday, 14 May 2012 18:15 |
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From www.marctomarket.com:
There has been much buzz in the markets that Germany is on the verge of its most important shift since the crisis began. Two official comments have captured some imaginations. The first is that Jens Ulbrich, the head of the Bundesbank's economics department, told parliament's finance committee that going forward, Germany may have inflation rates "somewhat above the average within the euro area". The second is that Finance Minister Schaeuble, who is most likely to replace Juncker as the head of the Eurogroup of euro zone finance ministers, backed wages demands to help reduce imbalances.
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Monday, 14 May 2012 10:51 |
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From David Schawel at Economic Musings:
A number of hours per week for me are spent reading through various pieces of sell-side & independent economic and macro research. The merits of such a practice can be debated, but it no question provides me a “consensus” view of current economic views. Over the last week or two the sell-side has increasingly raised the likelihood of a Greek exit from the Euro. Take for instance:
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