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News Links: European industry shrinks, Unicredit prepares rights issue, Buffett shuns euro banks
More bad news for eurozone as industrial sector shrinks - Telegraph
The region's woes intensified as official Eurostat figures showed industrial production fell 2pc, more than reversing a 1.4pc increase in August. Portugal and…
New Governments, Same Problems
Markets failed to get a lasting boost from change in EZ governments; dollar broadly higher into open. Italy auction met with decent response, but higher yields nonetheless ; change in governments no panacea in EZ. Japan’s preliminary Q3…
News Links: Down with the Eurozone, It’s not about Berlusconi
Down with the Eurozone - Nouriel Roubini - Project Syndicate
For the last decade, the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) were the eurozone's consumers of first and last resort, spending more than their income…
News Links: Big, Cheap Solution In Europe
There's A Big Solution In Europe, And Actually It's Really Cheap
But there is a solution. The markets seem to think we're about to see the ECB inter into the fray as a lender of last resort to troubled countries. The ECB already…
News Links: Italy’s yields lower but contagion is spreading
Slovenia's bond yields hit 7% | beyondbrics | FT.com
The eurozone storm is spreading fast and Slovenia has become the latest country to be battered by its winds. Its 10 year bond yields have jumped dramatically since the start…
Week that Began with a Bang Ends with a Whimper
The foreign exchange is calmer. Equity markets are generally higher. Global bond markets are also quieter today.
News Links: Goldman says an unlimited ECB commitment would be cheaper
GOLDMAN SACHS: The ECB Should Take A Leaf Out Of The Swiss Book
credible commitments backed up with the threat of unlimited action are likely in general to be much more effective, and cheaper, than vaguer intervention…
Cautious Rebound amid ECB’s Containment Strategy
European stocks, Italian bonds and the euro are rebounding after Italy’s BTP auction and ECB containment strategy. European political uncertainty remains dominant driver; Australia employment better than expected. Bank of Indonesia…
News Links: Everyone’s talking about what the ECB will do about Italy
Will the eurozone crisis send the gold price soaring? - Telegraph
Pressure grows on European Central Bank to start printing money.
tags: ECB gold liquidity
It’s time for you to fire the silver bullet,…
Dancing with Contagion
Markets have shifted back to crisis mode amid uncertainty over Italian economic reforms. Three likely scenarios remain after Berlusconi’s upcoming departure; Italian 10-year above 7%. UK September trade data unexpectedly widened, on…