The New York Times – In Europe, Looking for Patient Bond Buyers As Europe slouches toward a monetary union that aims to force euro area governments to cede control over their banks and budgets, a crucial question remains unanswered: how to persuade investors to buy, and hold for the long term, the bonds of at-risk… Continue reading Europe Looks For Bond Buyers
The Wall Street Journal – Money Funds Buck Euro-Zone Retreat At a time when many money-market mutual funds are piling out of Europe, some are looking for more of it in their quest for higher returns. Eight of the 20 money funds with the most exposure to Europe, as measured by total assets at the… Continue reading Money Market Funds Like Europe
The Wall Street Journal – Matthew Will: Merkel: Just Say Nein to Eurobonds If Germany pays for the financial profligacy of other nations, Europe’s government bubble will only grow. Meanwhile, money managers have waged their own campaign to get Mrs. Merkel on board. Financier George Soros has predicted dire consequences for Europe if Germany does… Continue reading Eurobonds
Telegraph (UK) – Europe’s bad debts ‘will bite in 2013’ Banks’ balance sheets will contract by a record margin in 2012, further constraining the supply of credit to businesses and consumers, according to Ernst & Young, but the “real impact” of Europe’s debt crisis will not arrive until 2013.The accountancy firm said banks will shrink… Continue reading Europe’s Bad Debts
The Wall Street Journal – Euro-Zone Data Show No Sign of Improvement Activity at euro-zone factories continued to fall sharply in June, while the currency area’s unemployment rate rose to a record high in May, suggesting the region’s economy ended the second quarter on a poor footing and has little momentum for a recovery later… Continue reading Recovery In Europe Is Nowhere In Sight
Barron’s – JONATHAN R. LAING: Falling Star The Chinese economy is slowing and is likely to slow a lot more. Get ready for a hard landing. After three decades of annual growth averaging 10%, China’s bullet-train economy is slowing markedly. Economic problems in Europe and the U.S. are stunting export growth, long the primary driver… Continue reading China’s Economy
Bloomberg.com – Funds Win With Bull Bets Before Biggest Rally Since ’09 Hedge funds lifted their bullish commodity bets for a third week, just before a European agreement to contain the region’s debt crisis spurred the biggest rally in raw-material prices in three years. Money managers increased their combined net-long positions across 18 U.S. futures… Continue reading Hedge Fund Performance
The New York Times – In Caymans, It’s Simple to Fill a Hedge Fund Board Just off the tarmac at the Grand Cayman International Airport, visitors were recently greeted by colorful banners advertising the Caribbean island’s sunny offerings: waterfront seafood restaurants, tax-free shopping — and hedge fund directors for hire. In the last decade, as… Continue reading The Caymans And Hedge Funds
The New York Times – Financial Giants Are Moving Jobs Off Wall Street New York’s biggest investment houses are shifting jobs out of the area and expanding in cheaper locales in the United States, threatening the vast middle tier of positions that form the backbone of employment on Wall Street. The shift comes even as… Continue reading Financial Jobs Are Moving Off Wall Street
The Wall Street Journal – Barclays Chairman to Step Down The chairman of Barclays, Marcus Agius, will step down amid fallout from the bank’s $453 million settlement of an interest-rate manipulation probe, according to three people close to the bank. Political and investor pressure has mounted on the management of U.K.-based Barclays since the settlement… Continue reading Interest Rate Manipulation Probe Causes Barclays Chairman To Step Down
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