On Saturday, leaders of Europe’s four biggest economies — Germany, France, Britain and Italy — decided against a coordinated bank bailout, while vowing to stabilize markets.
But in what would mark a stunning reversal after just a day, Italian Prime Minister Silvio Berlusconi said on Sunday that Italy would revive the idea of a common bank bailout fund at a meeting of finance ministers on Monday.
Statement just out from CBK (emphasis ours): Commerzbank AG / Corporate Action/Acquisition 08.01.2009 Release of a UK Regulatory Announcement, transmitted ... [Link]
Each month the market focuses on the Employment Situation Report. At "A Dash" we have studied this carefully, perhaps more so ...
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Swap spreads are collapsing today. Two year spreads have narrowed by 8 ¼ basis points to 54 ¾. Three year spreads ...
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Many finger the ratings agencies for a portion of our current problems, and to be sure, they deserve blame. Many of ...
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Agencies, yes. But not Treasuries.
Keith Bradsher of the New York Times, citing Ben Simpfendorfer of RBS, argues that China’s ...
[Link]One of the benefits of recession is that it gives everyone an excuse. Rather than face up to the fact ... [Link]
Is trading against the trend worth the risk? (MarketSci Blog)
What now for quants? (Market Movers)
The VIX was ...
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I have had the flu for the last 3 weeks, and now have bronchitis. But do not worry, I will be ...
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As SAR notes, the "longer and deeper recession" meme is "becoming the popular view" -- it's increasingly difficult to find people ...
[Link]Voilà ce qu'il y a dans ma boule de cristal pour l'année qui commence.... [Link]
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October 6th, 2008 at 12:58 am
I think we’re beyond coordinated action at this point. All that mantra means is Germany has to eat everyone else’s losses. I can’t see that flying with them. I’m coming to the point of view that the collapse is inevitable and the one’s who do the least to forestall it will be the winners after — one reason I objected to the $700B bailout.
You have to have cash to play and if you mortgage your country and fail to save the banks anyway you’ve got nothing left. I’m a bit surprised we haven’t seen any articles on what a post meltdown endgame might look like at this point. I guess it would be too much “scare mongering” for some and too hard a reality for others.