January 13, 2011 | Daily JAM, Morning Briefing |
Today, January 13, Spain sold almost $4 billion in bonds and Italy sold $8 billion in their first debt auctions of 2011. The high demand for the offerings was an encouraging sign that Spain and Italy aren’t about to go the way of Greece and Ireland. At least not yet.
January 12, 2011 | Daily JAM, Videos |
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January 12, 2011 | Daily JAM, Morning Briefing |
Today’s auction of $780 million of 10-year Portuguese government bonds saw plenty of demand and an interest rate far lower at 6.716% than projected by the worst-case scenario. Last Friday, January 7, yields on the Portuguese 10-year bond hit 7.14%, an interest rate that Portuguese officials called unsustainable.
January 10, 2011 | Daily JAM, Morning Briefing |
The MSCI Emerging Markets Index was down another 1% as of 1:40 in London today. Leading losers—all down more than 1%– include Indonesia, Thailand, the Philippines, the Czech Republic, and Poland.
January 8, 2011 | Uncategorized |
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January 5, 2011 | Daily JAM |
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December 22, 2010 | Daily JAM, Morning Briefing |
The euro fell yesterday to $1.3070 on news that Fitch Ratings has put Greek debt on review for possible downgrade to junk bond status.
December 17, 2010 | Daily JAM |
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December 17, 2010 | Daily JAM, Morning Briefing |
The euro initially climbed to $1.336 on news that the European summit had reached agreement on a permanent mechanism to back up governments suffering from a debt crisis. And then the currency gave back all its gain, sinking to $1.3148, as markets realized that the “agreement” contained no progress on the issues that have divided the Eurozone.
December 16, 2010 | Daily JAM |
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December 16, 2010 | Daily JAM |
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December 15, 2010 | Daily JAM, Morning Briefing |
The euro debt crisis takes another bite at Spain and expands to Belgium. But German opposition to a bigger bailout fund leaves the European Central Bank to fight the problem alone.