Newsclips
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December 7, 2011
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<Click on chart for larger image> The Wall Street Journal – Downgrade Threat Damps Euro Markets The threat of a collective downgrade of the euro-zone’s credit spread a chill over European markets Tuesday, damping the enthusiasm that greeted the announcement by France and Germany on Monday of plans for a radical solution to the debt… Continue reading S&P Lets Europe Know What Is At Stake If A Deal Is Not Reached
The Financial Times – France and Germany agree new rules France and Germany have reached a “comprehensive” agreement on new fiscal rules for the beleaguered eurozone, as a package of measures designed to save the single currency begins to take shape. The proposals, which include a commitment not to force private sector bondholders to take… Continue reading The Summit To End All Summits
<Click on chart for larger image> The Wall Street Journal – ECB Deposits Hit New High Euro-zone banks’ overnight deposits with the European Central Bank hit yet another fresh 2011 high Friday ahead of a week that many observers regard as key to solving the euro zone’s sovereign-debt crisis. Banks deposited €332.705 billion ($445.49 billion)… Continue reading European Banks Remain Reluctant To Deposit Funds With One Another
<Click on chart for larger image> Bloomberg.com – No Lost Decade for S&P 500 as Market Value Bias Masks Rally Even with the Standard & Poor’s 500 Index down 19 percent since the bursting of the technology bubble in 2000, it’s been no lost decade for stocks. The benchmark gauge for American common equity climbed… Continue reading No Lost Decade In An Equal-Weight World
The Wall Street Journal – Corzine Rebuffed Internal Warnings on Risks MF Global Holdings Ltd.’s executive in charge of controlling risks raised serious concerns several times last year to directors at the securities firm about the growing bet on European bonds by his boss, Jon S. Corzine, people familiar with the matter said. The board… Continue reading The Jon Corzine Drama Continues
Business Insider – Did You Hear About The Time Germany Broke All The Eurozone Debt Rules And Then Begged For A Rule Change? Just a little perspective from Dan Greenhaus at BTIG, who talks about the stability pact and anti-deficit rules contained within the original Eurozone treaty.: If you woke up today, you would think… Continue reading Do As I Say, Not As I Do
Smart Money – The ’12 Days of Xmas,’ Itemized Inflation doesn’t stop for true love. Or even one measly partridge, according to a new survey of the list of goodies named in the song, “The 12 Days of Christmas.” For the first time, the cost for the items on that list tops $100,000, according to… Continue reading The Holiday Version Of An Inflation Index
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Comment In our conference call last week titled “What’s Next For Europe And The Economy” (handout, audio) we discussed many of the issues highlighted below. We should publish a transcript of the call later today. Business Insider – Why This Next Week Is Going To Massive For Europe If you haven’t been paying close attention… Continue reading Is This Week The Biggest Week In The Euro’s History?
<Click on chart for larger image> Financial Sense – ECRI Recession Watch Growth Index Reverses Trend and Declines Further The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) posted -7.8 in its latest reading, data through November 25. The latest public data point is more negative than last week’s downwardly… Continue reading ECRI Sticks With Its Recession Call
Real Time Economics – Why Did the Unemployment Rate Drop? The U.S. added 120,000 jobs in November, but the unemployment rate posted a huge drop to 8.6% from 9% and a broader unemployment rate fell even more to 15.6% from 16.2%. Why? The number of jobs added comes from a survey of establishment payrolls. The… Continue reading A Look At Employment In Pictures