The Bundesbank says Nein again to buying of Spanish and Italian bonds
The odds that the European Central Bank will announce an actual program to buy Spanish and Italian government bonds at its September 6 meeting got worse today. The German Bundesbank today showed no signs of backing off its opposition to bond buying by the European Central Bank.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Markets ride higher on hopes that central banks will move
European stocks have hit a 13-month high today. The U.S. Standard & Poor’s 500 is points away from its 2012 high. Increasing this rally seems fueled by little more than hopes of central bank action in September.
Greece starts its efforts to convince the EuroZone to give it a better bailout deal
Next week Prime Minister Samaras begins a campaign to convince EuroZone leaders to give Greece an extension on its bailout goals. First up on August 24, informal—the Greeks say—talks with German Chancellor Angela Merkel. Then the Greek road show moves to France for talks with Francois Hollande.
The recession in the EuroZone is spreading
Six out of the 17 EuroZone countries are now in recession, as of second quarter data released today. The decline in growth for Italy (down 0.7%), Spain (down 0.4%) and Portugal (down 1.2%) was enough to pull the EuroZone economy as a whole down to a 0.4% decline from the second quarter of 2011.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...It’s tug of war time with a falling euro and rising expectations of stimulus in China pushing markets in opposing directions
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...More bad news is good news this morning–now from China
The bad news from China today has been enough to lift Chinese stocks—Hong Kong’s Hang Seng index closed up 1.1% on the news—but it hasn’t been bad/good enough to do the same for Europe. The French CAC 40 was up 0.54% today but the German DAX Index nudged into negative territory with a 0.02% drop. The Spanish IBEX 35 fell 056% and the Italian FTSE Milan Index was down 0.08%.
Let them eat bookkeeping: The European Central Bank keeps its pledge never to grant Greece a bridge loan by giving Greek banks the extra borrowing power to make the loan
The troika has said it will never give Greece a bridge loan to repay a 3.2 billion euro bond due on August 20. Never. But that hasn’t prevented the European Central Bank from a bookkeeping work around that pushes off the day of reckoning yet again
Buy good stocks in a bad market sounds like a great strategy–but what does it mean?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Will investors and traders continue to see bad economic news as good for the financial markets? Check in for German and Chinese data this week to see
Looking at the expected data from Germany and China that starts to arrive on Wednesday, the big question is will global financial markets see numbers indicating weaker economic growth as a plus or a minus? In the last few days the market seems to have swung back to the view that weaker growth is a plus since it increases the odds for central bank action in China, Europe, and the United States.
