Credit Writedowns

Michael Pettis predicts a hard landing in China. How much will growth slow? The World Bank report apparently doesn’t say, but the consensus has been slowly moving down towards 5-6% annual growth over the next few years. That’s better than…

Appraisers are pursuing class action suits against banks, asserting they were blacklisted if they refused to engage in fraudulent appraisals. The problem is that if they win, they are then subject to suit by homeowners (who are losing their…

This is a bronze level post. These are the links with my daily commentary for 9 Mar 2012 on the Greek PSI deal and the renewed urgency this makes for Spain and Portugal.

Here is a video of my latest appearance on Capital Account with Lauren Lyster. We spoke specifically about the situation in Europe; and that means Greece in the first instance. We also talked a lot about the ECB's LTRO program which I see…

This is a gold level post. So we've got a deal on the Greek restructuring. Everyone is talking about it. Here are the things to pay attention to.

This is a gold level post. According to the US Bureau of labor Statistics, nonfarm payroll employment rose by 227,000 in February, and the unemployment rate was unchanged at 8.3 percent. Here are my thoughts on what this signals about the…

The Greek government said PSI went through with a 95.7% participation rate after CACs were activated. Before the CACs, however, that rate was only 85.8%. ISDA’s determinations committee will decide today at 08:00 EST whether a credit event…

If and when the demand for credit increases, so too will the money supply.

This will be a bronze level post. We see a number of data points in today's links that point to economic growth and employment dynamics that vary widely across the developed economies.

The dollar is weaker against most major and EM currencies with Greece still the major focus. The euro broke above 1.32 against the dollar in the European morning as it becomes evident that the Greek PSI deal will likely go through, as we…