Saturday, February 27, 2010
Friday, February 26, 2010
U.K. Exits Recession at Faster Than Estimated Pace (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aehB5l8ESlss&pos=4
Feb. 26 (Bloomberg) -- Britain emerged from recession at a faster pace than previously estimated in the fourth quarter as services output jumped, providing a boost for Prime Minister Gordon Brown as he prepares for a general election within weeks.
Feb. 26 (Bloomberg) -- Britain emerged from recession at a faster pace than previously estimated in the fourth quarter as services output jumped, providing a boost for Prime Minister Gordon Brown as he prepares for a general election within weeks.
Thursday, February 25, 2010
Turkey Risks Worst Currency Slump on Army Arrests, Options Show
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJeqR.xzcjxM&pos=7
Investors are selling Turkish assets after the country weathered the worst global recession since the 1930s better than some European Union members, as Hungary required a bailout and Greece’s and Spain’s borrowing costs soared. Turkey’s dollar bonds rallied 16 percent in the 12 months after the collapse of Lehman Brothers Holdings Inc. in September 2008, the biggest gain among European benchmarks. Turkey’s ISE shares index jumped 31 percent, the world’s fourth-best performing equity gauge for the period, Bloomberg data show.
Investors are selling Turkish assets after the country weathered the worst global recession since the 1930s better than some European Union members, as Hungary required a bailout and Greece’s and Spain’s borrowing costs soared. Turkey’s dollar bonds rallied 16 percent in the 12 months after the collapse of Lehman Brothers Holdings Inc. in September 2008, the biggest gain among European benchmarks. Turkey’s ISE shares index jumped 31 percent, the world’s fourth-best performing equity gauge for the period, Bloomberg data show.
RBS Posts Narrower-Than-Expected Net Loss for 2009 (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeYimtuwWm0w&pos=4
Operating profit at RBS’s investment bank was 6.35 billion pounds compared with a loss of 1.27 billion pounds last year, the bank said.
Operating profit at RBS’s investment bank was 6.35 billion pounds compared with a loss of 1.27 billion pounds last year, the bank said.
Canada Gold Stocks Fail to Tap Metal’s Surge: Chart of the Day
http://www.bloomberg.com/apps/news?pid=20601109&sid=aLLP3cSOQGsw&pos=15
Canada is home to 8 of the world’s 20 biggest gold producers, including the biggest, Barrick Gold Corp. They haven’t taken full advantage of record bullion prices in part because the credit crunch has driven up costs, Vaillancourt said. With credit easing and costs for labor and equipment coming down, he is pushing Franklin Templeton money managers to invest in the stocks this year.
“We have a preference right now for late-stage cyclicals in Canada, and gold stocks are fitting the bill,” he said.
Canada is home to 8 of the world’s 20 biggest gold producers, including the biggest, Barrick Gold Corp. They haven’t taken full advantage of record bullion prices in part because the credit crunch has driven up costs, Vaillancourt said. With credit easing and costs for labor and equipment coming down, he is pushing Franklin Templeton money managers to invest in the stocks this year.
“We have a preference right now for late-stage cyclicals in Canada, and gold stocks are fitting the bill,” he said.
Stocks Advance on Bernanke; 10-Year Treasuries Erase Gain
http://www.bloomberg.com/apps/news?pid=20601087&sid=afEujmxx9faI&pos=1
Dollar Index
The Dollar Index, which gauges the currency against six major U.S. trading partners, slipped less than 0.1 percent to 80.818 after climbing to the highest level since June yesterday.
Dollar Index
The Dollar Index, which gauges the currency against six major U.S. trading partners, slipped less than 0.1 percent to 80.818 after climbing to the highest level since June yesterday.
Wednesday, February 24, 2010
U.S. Stock Slump Fits With Bull-Market Pattern: Chart of Day
http://www.bloomberg.com/apps/news?pid=20601109&sid=aUBuAdAnKGPU&pos=15
The potential volatility also will favor so-called active managers, rather than those who track indexes, the report said. Investors who make their own securities selections can capitalize on “opportunistic-style investments” as markets move, he wrote.
The potential volatility also will favor so-called active managers, rather than those who track indexes, the report said. Investors who make their own securities selections can capitalize on “opportunistic-style investments” as markets move, he wrote.
Japan’s Export Growth Accelerates on Global Rebound (Update2)
http://www.bloomberg.com/apps/news?pid=20601068&sid=aYo24aA8xmbI
Japan’s construction machinery shipments will likely rise for the first time in three years in fiscal 2010, supported by continued demand in China and other Asian nations, according to the Japan Construction Equipment Manufacturers Association.
Japan’s construction machinery shipments will likely rise for the first time in three years in fiscal 2010, supported by continued demand in China and other Asian nations, according to the Japan Construction Equipment Manufacturers Association.
Pimco Buys High-Yield Bonds in Credit Rating ‘Barbell’ Strategy
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMcIbQ0_TjIk&pos=5
Global high-yield bonds returned an average 61 percent last year compared to 16 percent for investment-grade notes with ratings of Baa3 or higher at Moody’s Investors Service or BBB- and higher at Standard & Poor’s, Bank of America Merrill Lynch indexes show.
Global high-yield bonds returned an average 61 percent last year compared to 16 percent for investment-grade notes with ratings of Baa3 or higher at Moody’s Investors Service or BBB- and higher at Standard & Poor’s, Bank of America Merrill Lynch indexes show.
Tuesday, February 23, 2010
Burma jails Buddhist abbot: opposition
http://news.smh.com.au/breaking-news-world/burma-jails-buddhist-abbot-opposition-20100219-olln.html
Burma's military regime has handed out dozens of tough jail sentences to people involved in the so-called "Saffron Revolution" led by Buddhist monks in 2007.
At least 31 people were killed as security forces cracked down on protesters after the biggest threat to the junta's grip on power in nearly two decades
Burma's military regime has handed out dozens of tough jail sentences to people involved in the so-called "Saffron Revolution" led by Buddhist monks in 2007.
At least 31 people were killed as security forces cracked down on protesters after the biggest threat to the junta's grip on power in nearly two decades
Stocks Fall, Euro Weakens on Surprise Drop in German Confidence
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUC5RON4JcFk&pos=1
The Ifo institute’s business climate index dropped in January as the coldest winter in 14 years hurt retail sales and construction, adding to concern the global economic recovery is faltering. Federal Reserve Bank of San Francisco President Janet Yellen said yesterday the U.S. economy still needs “the support of extraordinarily low rates” as policy makers try to damp speculation that last week’s increase in the Fed’s discount rate signals a rise in borrowing costs.
The Ifo institute’s business climate index dropped in January as the coldest winter in 14 years hurt retail sales and construction, adding to concern the global economic recovery is faltering. Federal Reserve Bank of San Francisco President Janet Yellen said yesterday the U.S. economy still needs “the support of extraordinarily low rates” as policy makers try to damp speculation that last week’s increase in the Fed’s discount rate signals a rise in borrowing costs.
Harvard’s Rogoff Sees ‘Bunch of Sovereign Defaults’ (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAd.sSfnhpTA&pos=5
He said financial markets will eventually drive interest rates higher, and European countries such as Greece and Portugal will “have a lot of troubles.” Global scrutiny of sovereign debt has risen as nations including Greece reveal fiscal deficits that have swollen in the wake of the worst global financial crisis since the Great Depression.
He said financial markets will eventually drive interest rates higher, and European countries such as Greece and Portugal will “have a lot of troubles.” Global scrutiny of sovereign debt has risen as nations including Greece reveal fiscal deficits that have swollen in the wake of the worst global financial crisis since the Great Depression.
Monday, February 22, 2010
Sunday, February 21, 2010
Lockhart Says Discount Move Doesn’t Signal Tightening (Update2)
http://www.bloomberg.com/apps/news?pid=20601068&sid=a7nn11p05b5A
“I would not interpret this action as a tightening of monetary policy or even a sign that a tightening is imminent,” Lockhart said. “Rather, this action should be viewed as a normalization step.” ...
“I would not interpret this action as a tightening of monetary policy or even a sign that a tightening is imminent,” Lockhart said. “Rather, this action should be viewed as a normalization step.” ...
Saturday, February 20, 2010
Core Consumer Prices Show First Drop in 28 Years
http://www.cnbc.com/id/35476268
Stripping out volatile energy and food prices, the closely watched core measure of inflation fell 0.1 percent, the first decline since December 1982. Financial markets had expected a 0.1 percent gain.
Stripping out volatile energy and food prices, the closely watched core measure of inflation fell 0.1 percent, the first decline since December 1982. Financial markets had expected a 0.1 percent gain.
Niger junta names platoon commander as its leader
http://news.yahoo.com/s/ap/20100219/ap_on_re_af/af_niger
Former colonial ruler France and the African Union both condemned Thursday's coup, when armed soldiers stormed the presidential palace in a hail of gunfire during broad daylight and kidnapped the country's strongman leader. The whereabouts of President Mamadou Tandja remained unknown Friday.
Former colonial ruler France and the African Union both condemned Thursday's coup, when armed soldiers stormed the presidential palace in a hail of gunfire during broad daylight and kidnapped the country's strongman leader. The whereabouts of President Mamadou Tandja remained unknown Friday.
Friday, February 19, 2010
Greece May Have to Pay More Than 7% to Sell Bonds (Update1)
http://www.bloomberg.com/apps/news?pid=20601110&sid=a0y00QbKxfpg
Greek 10-year notes currently yield about 330 basis points more than the benchmark. The nation can expect to offer a premium of about 30 basis points to that, based on its sale of five-year notes, plus another 40 or 50 basis points to compensate for the risk of another plunge in price, Gisdakis estimated. Adding 80 basis points to current 10-year yields of about 6.55 percent, is equivalent to more than 7.3 percent.
Greek 10-year notes currently yield about 330 basis points more than the benchmark. The nation can expect to offer a premium of about 30 basis points to that, based on its sale of five-year notes, plus another 40 or 50 basis points to compensate for the risk of another plunge in price, Gisdakis estimated. Adding 80 basis points to current 10-year yields of about 6.55 percent, is equivalent to more than 7.3 percent.
Niger Military Suspends Constitution After Overthrowing Tandja
http://www.bloomberg.com/apps/news?pid=20601087&sid=aq5ny21GF7UU&pos=8
The African Union said earlier that it would condemn any military takeover.
“There is not a good or a bad coup, all of them are bad,” the AU’s peace and security commissioner, Ramtane Lamamra, told reporters in Addis Ababa, the Ethiopian capital. “Once they happen you have to condemn them with the same energy and same strength.”
The African Union said earlier that it would condemn any military takeover.
“There is not a good or a bad coup, all of them are bad,” the AU’s peace and security commissioner, Ramtane Lamamra, told reporters in Addis Ababa, the Ethiopian capital. “Once they happen you have to condemn them with the same energy and same strength.”
Two Chinese Schools Linked to Google Attacks
http://www.cnbc.com/id/35471822
Jiaotong has one of China’s top computer science programs. Just a few weeks ago its students won an international computer programming competition organized by I.B.M. — the “Battle of the Brains” — beating out Stanford and other top-flight universities.
Jiaotong has one of China’s top computer science programs. Just a few weeks ago its students won an international computer programming competition organized by I.B.M. — the “Battle of the Brains” — beating out Stanford and other top-flight universities.
Jobless Claims, Inflation Jump as Economy Wobbles
http://www.cnbc.com/id/35457298
"When you have PPI moving up and still no progress in the jobs situation, that doesn't bode well for continued improvement in equity prices," said Alan Lancz, president at Alan B. Lancz & Associates in Toledo, Ohio.
"When you have PPI moving up and still no progress in the jobs situation, that doesn't bode well for continued improvement in equity prices," said Alan Lancz, president at Alan B. Lancz & Associates in Toledo, Ohio.
Dr Doom: China Will Drag Down US Stocks By 20%
http://www.cnbc.com/id/35444726
Faber expects to see the Dow and S&P “fall 20% from the January highs” in the near-term and perhaps more than that as developments unfold.
Faber expects to see the Dow and S&P “fall 20% from the January highs” in the near-term and perhaps more than that as developments unfold.
Fed Raises Discount Rate to 0.75% From 0.50%
http://www.cnbc.com/id/35465481
“I'm shocked. Completely shocked,” Todd Schoenberger, managing director of LandColt Trading said of the Fed’s move to raise the discount rate. “It makes me wonder if the CPI number coming out tomorrow is going to be just absolutely horrible—maybe they got wind of something,” he said.
The Fed also said that as of March 18 the maximum maturity for primary credit loans will be shortened to overnight. It also said it was raising the minimum bid rate for its term auction facility program from 0.25 percent to 0.50 percent and that the final TAF auction will be on March 8.
“I'm shocked. Completely shocked,” Todd Schoenberger, managing director of LandColt Trading said of the Fed’s move to raise the discount rate. “It makes me wonder if the CPI number coming out tomorrow is going to be just absolutely horrible—maybe they got wind of something,” he said.
The Fed also said that as of March 18 the maximum maturity for primary credit loans will be shortened to overnight. It also said it was raising the minimum bid rate for its term auction facility program from 0.25 percent to 0.50 percent and that the final TAF auction will be on March 8.
Thursday, February 18, 2010
BlueGold’s Jen Says China May Revalue Yuan By 5% (Update2)
http://www.bloomberg.com/apps/news?pid=20601068&sid=a0QGpwWawL_c
Jen, who worked for 11 years at Morgan Stanley before joining BlueGold in May, developed in 2001 the “dollar-smile” theory, which predicts gains for the U.S. currency during times when the economy is either in a deep slump or growing strongly, and underperformance at times of moderate growth.
Jen, who worked for 11 years at Morgan Stanley before joining BlueGold in May, developed in 2001 the “dollar-smile” theory, which predicts gains for the U.S. currency during times when the economy is either in a deep slump or growing strongly, and underperformance at times of moderate growth.
Wednesday, February 17, 2010
France Does Not Believe Iran's Nuclear Claim
Foreign Minister: France Doesn't Believe Iran's Claim It Can Enrich Uranium To 80 Percent
Iran's Opposition Searches for a New Strategy
http://www.time.com/time/world/article/0,8599,1964483,00.html
"Time is on our side," says Sazegara. "We just have to survive. They have to run a country."
"Time is on our side," says Sazegara. "We just have to survive. They have to run a country."
Iran says the world 'will regret' sanctions
http://news.bbc.co.uk/2/hi/8517723.stm
"If anyone does anything against Iran, then our response won't be the same as in the past. No, we will definitely react and make them regretful," the president told a televised press conference.
Iran resumes nuclear weapon work, U.S. report expected to sayBy Pam Benson, CNN National Security Producer
"If anyone does anything against Iran, then our response won't be the same as in the past. No, we will definitely react and make them regretful," the president told a televised press conference.
Iran resumes nuclear weapon work, U.S. report expected to sayBy Pam Benson, CNN National Security Producer
Tuesday, February 16, 2010
US Recovery to Accelerate: Barclays' Bob Diamond
http://www.cnbc.com/id/35417338
"We see very strong signs of an accelerated recovery as 2010 goes on" and a "material improvement" in US employment is likely to occur, he added.
"We see very strong signs of an accelerated recovery as 2010 goes on" and a "material improvement" in US employment is likely to occur, he added.
Australia to Gradually Hike Rates, Eyes Europe, US Risk
http://www.cnbc.com/id/35413319
"The RBA has clearly signaled further rate rises if economic conditions evolve broadly as expected," said Andrew Hanlan, a senior economist at Westpac.
"But it's keeping its options open on timing -- entirely understandable given global uncertainties."
Investors were less certain, having been badly burned by the RBA's decision not to hike at the February meeting. Markets were implying around a one-in-three chance of a move on March 2, compared to one-in-two last week after the jobs data.
"The RBA has clearly signaled further rate rises if economic conditions evolve broadly as expected," said Andrew Hanlan, a senior economist at Westpac.
"But it's keeping its options open on timing -- entirely understandable given global uncertainties."
Investors were less certain, having been badly burned by the RBA's decision not to hike at the February meeting. Markets were implying around a one-in-three chance of a move on March 2, compared to one-in-two last week after the jobs data.
Euro Plunging on Greece Gives Export Edge to Renault, Zodiac
http://www.bloomberg.com/apps/news?pid=20601087&sid=ah4MmI197xUY&pos=6
“If in coming years the euro is a bit lower against the dollar, all the better for us,” said Jean-Dominique Senard, managing director at Clermont Ferrand, France-based Michelin, the world’s second-largest tiremaker.
“If in coming years the euro is a bit lower against the dollar, all the better for us,” said Jean-Dominique Senard, managing director at Clermont Ferrand, France-based Michelin, the world’s second-largest tiremaker.
Monday, February 15, 2010
Sunday, February 14, 2010
Friday, February 12, 2010
International broadcasters condemn Iran over 'jamming'
http://news.bbc.co.uk/2/hi/middle_east/8511921.stm
The BBC, Deutsche Welle and Voice of America said the jamming began on Thursday as Iran marked the 31st anniversary of the Islamic Revolution.
They said Iran was broadcasting freely around the world while denying its own people programmes coming from outside.
The BBC, Deutsche Welle and Voice of America said the jamming began on Thursday as Iran marked the 31st anniversary of the Islamic Revolution.
They said Iran was broadcasting freely around the world while denying its own people programmes coming from outside.
Thursday, February 11, 2010
Oil rises as US targets Iran with sanctions
http://www.smh.com.au/business/markets/oil-rises-as-us-targets-iran-with-sanctions-20100211-nsrp.html
The US has been trying to rally reluctant countries, especially China, to sanction Iran as the government in Tehran resists pressure to scale back its uranium enrichment work. Secretary of State Hillary Clinton has signaled the US wants to target the Revolutionary Guard, an elite military branch with extensive business interests.
The US has been trying to rally reluctant countries, especially China, to sanction Iran as the government in Tehran resists pressure to scale back its uranium enrichment work. Secretary of State Hillary Clinton has signaled the US wants to target the Revolutionary Guard, an elite military branch with extensive business interests.
U.S. Stocks Drop, Dollar Gains, Treasuries Fall on Fed Plans
http://www.bloomberg.com/apps/news?pid=20601087&sid=axO1FjlT2Vcs&pos=3
“The Fed is not taking the punch bowl away, but it’s making the cup smaller,” said Dan Veru, who helps oversee $3 billion at Palisade Capital Management in Fort Lee, New Jersey. “It’s not raising rates quickly because that would put the recovery in jeopardy. But it would be draining liquidity. In addition to that, we’re still hostage to the troubled economies in Europe waiting for a solution. We’re trying to read what that all means.”
“The Fed is not taking the punch bowl away, but it’s making the cup smaller,” said Dan Veru, who helps oversee $3 billion at Palisade Capital Management in Fort Lee, New Jersey. “It’s not raising rates quickly because that would put the recovery in jeopardy. But it would be draining liquidity. In addition to that, we’re still hostage to the troubled economies in Europe waiting for a solution. We’re trying to read what that all means.”
Wednesday, February 10, 2010
Roubini: Greece Aid Is Step in Right Direction
http://www.cnbc.com/id/35318271
European officials' consideration to assist Greece is a "step in the right direction," but a loan from the International Monetary Fund would be more beneficial in the long run, economist Nouriel Roubini told Reuters Insider television on Tuesday.
"IMF lending is based on conditionality of achieving certain fiscal and structural goals. In the case of loan guarantees, it's very hard to make those loan guarantees conditional...you either give them—or don't give them."
European officials' consideration to assist Greece is a "step in the right direction," but a loan from the International Monetary Fund would be more beneficial in the long run, economist Nouriel Roubini told Reuters Insider television on Tuesday.
"IMF lending is based on conditionality of achieving certain fiscal and structural goals. In the case of loan guarantees, it's very hard to make those loan guarantees conditional...you either give them—or don't give them."
Stocks, Commodities, Won Rise on Greek Aid, China Growth Signs
Won, Peso
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQED8XlQW6EQ&pos=1
The won climbed to 1,155.7 per dollar after South Korea’s Vice Finance Minister Hur Kyung Wook said yesterday the impact from Greece’s fiscal woes on his nation will be “limited.” The Philippine peso gained 0.1 percent to 46.32 after a report showed exports increased 23.6 percent from a year earlier in December. The Indonesian rupiah strengthened 0.4 percent to 9,335.
The won climbed to 1,155.7 per dollar after South Korea’s Vice Finance Minister Hur Kyung Wook said yesterday the impact from Greece’s fiscal woes on his nation will be “limited.” The Philippine peso gained 0.1 percent to 46.32 after a report showed exports increased 23.6 percent from a year earlier in December. The Indonesian rupiah strengthened 0.4 percent to 9,335.
Tuesday, February 9, 2010
China’s Loan Growth, Inflation Probably Accelerated (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aKiRF7gdMg_4&pos=5
China’s banks probably made more new loans in January than the previous three months combined as lenders anticipated a credit clampdown by policy makers seeking to stem rising inflation pressures.
China’s banks probably made more new loans in January than the previous three months combined as lenders anticipated a credit clampdown by policy makers seeking to stem rising inflation pressures.
Gates Shores Up War Allies, Urges Pressure on Iran (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=axzCu9EVE4CQ&pos=8
“We must act swiftly to increase the impact of the forces now headed to the theater for this pivotal year,” Gates said.
“We must act swiftly to increase the impact of the forces now headed to the theater for this pivotal year,” Gates said.
Monday, February 8, 2010
Sunday, February 7, 2010
Iran's leader orders higher enrichment of uranium
http://news.yahoo.com/s/ap/20100207/ap_on_re_us/iran_nuclear
International concerns include Iran's refusal to heed U.N. Security Council demands that it freeze its enrichment program; fears that it may be hiding more nuclear facilities after its belated revelations that it was building a secret fortified enrichment plant, and its stonewalling of an IAEA probe of alleged programs geared to developing nuclear arms.
International concerns include Iran's refusal to heed U.N. Security Council demands that it freeze its enrichment program; fears that it may be hiding more nuclear facilities after its belated revelations that it was building a secret fortified enrichment plant, and its stonewalling of an IAEA probe of alleged programs geared to developing nuclear arms.
N Korea role in Myanmar N-plot?
http://indiatoday.intoday.in/site/Story/82557/World/N+Korea+role+in+Myanmar+N-plot.html
The summit will provide an opportunity to discuss practical ways to block illicit trade in nuclear materials. New Delhi is concerned over nuclear proliferation by neighbouring Pakistan as well as North Korea and Iran.
The summit will provide an opportunity to discuss practical ways to block illicit trade in nuclear materials. New Delhi is concerned over nuclear proliferation by neighbouring Pakistan as well as North Korea and Iran.
Saturday, February 6, 2010
France: le déficit commercial reste lourd
http://info.france2.fr/economie/France:-le-déficit-commercial-reste-lourd-60861535.html
Pourtant, excepté le déficit record enregistré en 2008, il s'agit de la plus mauvaise performance hexagonale de ces dernières années. Et cette tendance ne devrait pas s'inverser: le gouvernement, qui tablait sur un déficit de 42,4 milliards pour 2009, pense qu'il se creusera à nouveau, à 45 milliards, en 2010.
Pourtant, excepté le déficit record enregistré en 2008, il s'agit de la plus mauvaise performance hexagonale de ces dernières années. Et cette tendance ne devrait pas s'inverser: le gouvernement, qui tablait sur un déficit de 42,4 milliards pour 2009, pense qu'il se creusera à nouveau, à 45 milliards, en 2010.
Friday, February 5, 2010
Sovereign Debt Fears to Keep Markets Under Pressure: Gross
http://www.cnbc.com/id/35241298
“The magnitude is not the same as the subprime crisis, but to a certain extent, they're similar,” Gross said in a live interview.
Gross said he believes Greece's sovereign debt problems will eventually be solved.
“We don’t sense that Greece is a risk from the standpoint of actual default—it will be resolved," he said.
“The magnitude is not the same as the subprime crisis, but to a certain extent, they're similar,” Gross said in a live interview.
Gross said he believes Greece's sovereign debt problems will eventually be solved.
“We don’t sense that Greece is a risk from the standpoint of actual default—it will be resolved," he said.
Stocks, Commodities Plunge, Dollar Gains on U.S. Jobless Claims
Feb. 5 (Bloomberg) -- Australian and Japanese stocks plunged, following the MSCI World Index’s biggest decline in nine months, and commodities slid after an unexpected increase in U.S. jobless claims. The dollar rose to an eight-month high against the euro.
“Anxiety about Europe is heightening as deficit problems are starting to look contagious,” said Toshiya Yamauchi, manager of foreign-exchange margin trading at Ueda Harlow in Tokyo. “This is weighing heavily on prospects for the euro, causing buying of safe-haven currencies.”
“Anxiety about Europe is heightening as deficit problems are starting to look contagious,” said Toshiya Yamauchi, manager of foreign-exchange margin trading at Ueda Harlow in Tokyo. “This is weighing heavily on prospects for the euro, causing buying of safe-haven currencies.”
Thursday, February 4, 2010
Wednesday, February 3, 2010
Tuesday, February 2, 2010
Monday, February 1, 2010
Obama Seeks Permanent, Expanded Build America Bond Program
http://www.bloomberg.com/apps/news?pid=20601087&sid=auaS48wgLD4I&pos=6
Build America Bonds “were successful in helping to repair a severely damaged municipal finance market, making much needed credit available at lower borrowing costs for infrastructure projects that create jobs,” Treasury Secretary Timothy Geithner said in an e-mailed statement released by his office.
Build America Bonds “were successful in helping to repair a severely damaged municipal finance market, making much needed credit available at lower borrowing costs for infrastructure projects that create jobs,” Treasury Secretary Timothy Geithner said in an e-mailed statement released by his office.
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