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Markets
Full Text: Moody’s revises rating outlook for Australian mortgage insurers to negative
Below is the press release issued by Moody's in conjunction with the down grade of Australia's mortgage insurers.
Dollar Firmer As European News Stream Remains Negative
US dollar was firmer vs. majors Monday even as euro zone news stream remains negative; Moody's cut Belgium two notches Friday to Aa3 and kept a negative outlook. Euro short positions at record high on IMM; euro zone Finance Ministers to…
Is Finland Really A Closet Member Of The Eurozone Periphery?
The country’s debt dynamics are far from unsustainable at this point, but given the weakening in the country’s export performance and the steady unwinding of the housing boom we can now anticipate I would expect growth to be weaker than…
Europe’s Three No’s in Two Parts: Part II
The ECB is seen to be the key protagonist and the pressure is more acute on it to act. Yet it steadfastly refuses. The other solution that has been advocated is a joint European bond. It is not going to be forthcoming any time soon. Such…
Europe’s Three No’s in Two Parts: Part I
Banks can borrow as much as they want from the central for three years at the refi rate. They are limited only by their desire and collateral. The ECB also liberalized further its definition of acceptable collateral. But expectations of…
Bubble Trouble in the U.S. Heartland?
The “smart money” has been buying up farmland hand over fist for the past few years and you can see how they helped drive up land prices in the U.S. heartland. Some think this is the place to be if the shit really hits the fan. Not gold,…
Chart of the Day: Post-Bubble Performance Comps of U.S. Financials and Techs
The guys over at Bespoke put out a great piece yesterday comparing the post-bubble performance of U.S. financials after the February 2007 top and the technology sector after the dot.com peak in March 2000.
Market Facing Strong Headwinds
All in all, the negative fallout from the EU sovereign debt crisis and the outlook for the U.S. economy are likely to have a strong downward pull on the stock market. Rather than reflecting fear, the market seems unusually complacent as…
The Euro Rollercoaster Shows No Signs of Letting Up After Two Years
Through all of this hand wrangling, the Euro remains fixed at the same value as it started with in January, roughly $1.30. If open interest information from our futures markets are any valid indication, currency speculators, both commercial…
The ABCs of Re-hypothecation in Gold and Securities Markets: What You Need to Know
The downfall of MF Global has exposed yet another patch of the underbelly of the brokerage industry. Practices that are routine and legal – and hitherto largely unknown to most investors – can leave a company vulnerable when abused.