The Wall Street Journal – Germany Turns Up Pressure on ECB Growing more confident that the acute phase of the euro-zone debt crisis may be passing, Germany is beginning to put pressure on the European Central Bank to start mopping up the extra cash that it has flooded into European markets to stem the spread… Continue reading Germany Wants The ECB To Start Its Exit Strategy
The Independent (UK) – Deficit target won’t be hit but new cuts should be avoided, says bank THE Government is unlikely to meet its deficit target this year but further budget cuts should be avoided to prevent a further deterioration in business and consumer sentiment, Ulster Bank says in a report. The bank reckons that… Continue reading Ireland
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The Financial Times – Draghi kicks recovery ball back into states’ court Mario Draghi has trumpeted the European Central Bank’s success in restoring confidence in Europe’s monetary union, making clear that responsibility for further action lies with governments and banks – while the ECB fretted about oil price-driven inflation risks. Two ECB offers of unlimited,… Continue reading Is Draghi Done?
Bloomberg.com – Greek Debt Swap at 95% After Bondholders Forced to Join Attention now shifts to euro-region finance ministers, who brought forward a planned conference call to 12:30 p.m. Brussels time. They must decide whether the swap warrants proceeding with a 130 billion-euro second bailout package designed to prevent a collapse of the Greek economy.… Continue reading Greece Gets A Deal
The Economist – The world economy: Another oil shock? The right and wrong ways to deal with dearer oil TWICE in the past four years surges in the price of oil have walloped the world economy. In 2008 the cost of a barrel of Brent crude soared to $147, enfeebling global growth even before the… Continue reading Are Oil Prices Too High?
The Economist – Buttonwood: Pausing for breath The rally in risk assets is running out of steam Furthermore, the markets are starting to lose a key source of support. As the global economy emerged from recession in 2009, profit margins surged thanks to falls in borrowing costs and weak wage growth. But European profits are… Continue reading Is The Risk Rally Almost Over?
The Financial Times – US corporate bond sales rise to $39.1bn Hewlett-Packard, Mississippi Power and CenturyLink – an internet, television and voice services provider – were among investment-grade companies that sold debt this week, pushing total issuance to $39.1bn as of Thursday. That is the highest weekly level since companies sold $42.9bn of debt in… Continue reading Is Bond Issuance Booming Again?
The Wall Street Journal – China Inflation Slows Sharply On Food Prices Inflation slowed sharply in China in February, due partly to seasonal effects as food prices fell. The country’s consumer price index rose 3.2% from a year earlier in February, down from a 4.5% increase in January and below economists’ expectations of a 3.4%… Continue reading China’s Inflation
Reuters – Greek Q4 GDP shrinks 7.5 pct y/y Greece’s gross domestic product (GDP) contracted by 7.5 percent year-on-year in the fourth quarter of 2011, the country’s statistics office said on Friday based on seasonally unadjusted provisional estimates. Reuters – Over half of Greek youth unemployed Greek unemployment hit another record high in December and… Continue reading Now That Greece Has Restructured …
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