The news from Spain just gets worse and worser
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...Financial markets rally on belief that the Federal Reserve will move tomorrow
Financial markets have decided that the Federal Reserve’s Open Market Committee will do something on Wednesday afternoon. So today the German DAX index finished up 1.8%, the French CAC 40 was up 1.7%, the Spanish IBEX was 2.7% higher, and the Italian FTSE MIB was ahead 3.4%. As of 1:30 New York time the Standard & Poor’s 500 was ahead 1.1%.
Thanks to the euro debt crisis, the U.S. dollar gets 10 more years as best global currency
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...Greek election rally fails as markets say vote doesn’t solve the euro debt crisis
The relief rally after Sunday’s election results showed that Greece isn’t about to leave the euro tomorrow had pretty much petered out by 11 a.m. in New York. The Standard & Poor’s 500, which had climbed above Friday’s close by 10:52 a.m. had given back all its gains to move back under the Friday close by 11:04 a.m.
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...Of course, no one knows what will happen in Greece on Sunday–which is why stocks and the euro rallied this week
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...Don’t read much into this week’s rally–much/most/all of it is a result of shorts taking their profits before the Greek vote on Sunday
Think of it this way. Right now nobody is long Greece. Nobody has been going long Greece in the last few days. And I think that goes for Spain and Italy and France and Ireland too. But bears that have been short Greece and the other parts (or all) of the EuroZone aren’t piling on more bets on a disastrous Greek vote on Sunday either. Instead their taking profits, which drives up prices of financial assets in the short run
Central banks get ready just in case the Greek election Sunday results in a flight to the U.S. dollar
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...Italian yields surge at auction today as bond buyers say, loudly, that the Spanish bank bailout isn’t enough
Well, at least, European leaders, as they prepare for their end of the month summit, are under no illusion that the proposed bailout for Spain’s banks was enough to hold the crisis at bay. In today’s brutal Italian bond auction yields for one-year government debt hit 3.972%. That’s a six-month high and well above the 2.34% yield at the auction for one-year paper on May 11
A break in the ranks of the leftwing coalition that wants to tear up the bailout deal raises the odds that this Sunday Greece won’t vote to leave the euro
The Greek ban on election polls in the two weeks before the June 17 election means that financial markets have been left in the dark about which party is leading in the Sunday vote that could well determine whether or not Greece leaves the EuroZone. So this morning’s explosive resignation of one of the leading leftwing candidates for parliament is a loud statement echoing in space hungry for news. Is it enough to turn the election against Syriza and keep Greece in the euro?
Yes, the next week is really scary, but if the Greek election on Sunday is a disaster, think about buying these battered European stocks with big China exposure
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