financial news

Highlights The US dollar remains largely on the defensive despite the recovery in North America yesterday.  The euro slipped to almost $1.3380 in Asia, but has recovered smartly in Europe, but It is sterling that is the stand out…

Note: I now post these stories and other breaking news on my twitter feed. Follow me at twitter.com/edwardnh to receive updates in real-time. Paul Volcker: Do The Right Economic Thing « The Baseline Scenario FT.com / Columnists / Martin…

Highlights The US dollar has continued the decline that began before the weekend on news of the EU/IMF deal over Greece.  However, after testing resistance near $1.3550 in Asia, the euro surrendered its latest gain as the market is…

Fitch downgrades Illinois ratings, may cut again | Reuters The Last Temptation of Risk – Barry Eichengreen Economic Principals – Bloggers and Journalists New Economic Perspectives: The Chinese Are Coming! The Chinese Are Coming! Oh…

Highlights The US dollar is beginning the new week as it finished last week, with a heavy tone.  Position adjusting in the wake of the European/IMF deal and ahead of month end is the main driver.   Also prompting some…

The first link is interesting. And too bad it is in Spanish for those of you who don't speak English. It is an important piece about what happens when a central bank is not independent.  The opinion piece from Argentine daily "La…

I am publishing a lot more links at my twitter feed. Follow my tweets here - and be sure to re-tweet my posts as that helps me immensely in reaching a wider audience. Who Will Tell The President? Paul Volcker « The Baseline Scenario…

Bank failure watch FDIC Pares Aid for Bank Buyers – WSJ.com New York Community Bank, Westbury, New York, Assumes All of the Deposits of Desert Hills Bank, Phoenix, Arizona Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the…

Greek Sovereign Debt Crisis From A Greek Debt Crisis To A Eurozone Structural One? Europe puts the loaded gun on the table but no bailout Figaro: France will accept the IMF for Greek bailout Germany: First the penalties, then the…

Highlights The US dollar is broadly lower, though mostly within yesterday’s trading ranges, as the market adjusts positions in light of the European agreement on support for Greece.  This is the main market development.  However,…