Comment Jim Bianco was interviewed by Charles Biderman of TrimTab Labs discussing the Federal Reserve, Inflation Europe and the debt ceiling. To view the interview click on the images above. To view any of our recent interviews click here.
The Financial Times – Greece to repay €450m bond in full Greece is set to repay fully a €450m bond that matures on Tuesday after failing to reach a deal with holdout investors including private banks and a US-based hedge fund. The expected move marks a significant twist in the restructuring of Greece’s debts. “It… Continue reading Pondering A Greek Exit
The Financial Times – Moody’s cuts ratings for 26 Italian banks Moody’s Investors Service on Monday cut the long-term debt and deposit ratings for 26 Italian banks by one to four notches, highlighting the tough environments in Italy and Europe. The ratings for Italian banks are now among the lowest in advanced European countries, Moody’s… Continue reading Italian Banks Downgraded
<Click on chart for larger image> Northern Funds – Post-Financial Crisis – How do the Major Economic Players Stack Up? The global financial crisis broke out in August 2007 and the U.S. economy plunged into a severe recession in December 2007 and the recovery commenced in June 2009. The financial crisis touched nearly all major… Continue reading Comparing World GDP Since 2008
<Click on chart for larger image> Real Time Economics (WSJ Blog) – Companies Aim to Start Spending Trillions They’re Hoarding Corporations around the globe are finally planning to spend some of the nearly $8 trillion in emergency cash they’ve amassed. According to the latest American Express/CFO Research Global Business & Spending Monitor, released today, 45%… Continue reading Cash On The Sidelines
The Financial Times – Bill Gross: A whale in the waters of negative yields In nature, the mighty whale depends upon the lowly plankton for its survival and the same analogy rightly applies to global developed economies, which have dominated trade and finance at the expense of developing nations. Now the tides may be turning… Continue reading Negative Yields
The Financial Times – Rebuild the pillars of 1930s Wall Street Last Thursday was Groundhog Day, again, in US markets. A large sophisticated institution surprised everyone with a 10-figure loss on derivatives, its stock price crumbled, a few pundits said “I told you so”, and some politicians clamoured for reform. The same happened in 1995… Continue reading Those Who Do Not Learn From History Are Doomed To Repeat It
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The Financial Times – Fear grows of Greece leaving euro Eurozone central bankers have talked publicly for the first time of managing a possible Greek exit from Europe’s monetary union as stalemate in Athens talks on a coalition government raises the prospect that Greece will renege on the terms of its international bailout. The comments… Continue reading Will Greece Leave The Euro?
The Conscience of a Liberal (NYT Blog) – Paul Krugman: Eurodämmerung Some of us have been talking it over, and here’s what we think the end game looks like: 1. Greek euro exit, very possibly next month. 2. Huge withdrawals from Spanish and Italian banks, as depositors try to move their money to Germany. 3a.… Continue reading What Happens If Greece Leaves?
Huffington Post – Janet Tavakoli: Jamie Dimon’s SNAFU: JPMorgan’s Other Derivatives’ Losses At issue is corporate governance at JPMorgan and the ability of its CEO, Jamie Dimon, to manage its risk. It’s reasonable to ask whether any CEO can manage the risks of a bank this size, but the questions surrounding Jamie Dimon’s management are… Continue reading More On J.P. Morgan
Bloomberg.com – William D. Cohan: The One Thing Jamie Dimon Got Right This Week About two-thirds the way through JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon’s stunning May 10 conference call, in which he announced that the hedging strategy originating in the firm’s vaunted “chief investment office” had cost the firm $2… Continue reading Is Jamie Dimon In Trouble?