Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jul 21, 2011

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Jul 21, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jul 21, 2011


Sovereign Crisis Erases 75% Junk Bond Gains as Losses Spread: Euro Credit
Bloomberg
“Given that high yield is a riskier asset class, the debt crisis and associated economic concerns have a greater impact than on investment-grade bonds,” said Vasant Mehta, a credit strategist at Royal Bank of Scotland Group Plc in London. ...
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Analysis: Funds embrace commodities after Q2 exodus
Reuters
The bulk of that money came in the week to July 13, when the euro zone debt crisisescalated. It was the largest cumulative flow as a percentage of fund group assets of all the sectors -- beating bonds, equities and money market funds. ...
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Reuters
Unheeded Lessons: What Did We Fail to Learn from the Financial Crisis?
Knowledge@Wharton
"People are trying to wrestle with the question of wrong incentives in banks and institutions that are too large, but it can't be done quickly. It may well be that the geography of the next financial crisis is slightly different, which wouldn't be ...
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Knowledge@Wharton
China's Stocks Slump to One-Week Low on Interest-Rate Concerns
Bloomberg
China's benchmark money-market rate will remain at about a record high this quarter as the centralbank drains cash from the financial system to damp inflation, according to a survey of bondanalysts. The seven-day repurchase rate, ...
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2 ETFs to Play During the Financials' Fizzle
Seeking Alpha
The sector's poor performance over recent months has been troubling, to say the least, as many analysts say that a convincing economic and investment recovery cannot be sustained withoutfinancial sector participation. However, this all-important ...
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Supply, Demand & the USDollar
Gold Seek
The analysis has become interwoven with crisis events that have turned into the norm. The global money war is also called the competing currency war, but it is much bigger since a revolt is underway to survive the financial crisis. ...
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Gold rush
Galway Independent
While now may seem like the ideal time to invest in gold, Dr Heaslip says that “there are pitfalls, like any investment” and advises that both financial advisors and the general public fully research theirinvestment before committing. ...
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Newspaper Briefing, including 'Shares rally but questions remain for Murdochs ...
Proactive Investors UK
BofA and Goldman: When Japans real estate bubble popped in 1990 its banks were left treading water for more than a decade. The US financial crisis also began with plunging property prices. Could US banks be showing signs that a Japanese-style future is ...
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Because the Past is the Present, and the Future too.
History News Network
According to author Kevin Phillips, who popularized this notion, financialization is “a process wherebyfinancial services, broadly construed, take over the dominant economic, cultural and political role in a national economy.”. ...
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EUROPEAN OPENING NEWS INCLUDING: French president, Sarkozy, and German ...
Proactive Investors UK
(RTRS) According to US Treasury Secretary, Geithner, the US financial system is in much stronger shape, not just relative to the depth of the crisis but also relative to conditions that prevailed before it hit. (Sources) The most likely scenario, ...
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WAM Capital expects rates to fall
InvestorDaily.com
"Consumer sentiment in Australia has recently declined to levels not seen since the global financial crisis on the back of uncertainty resulting from the European and United States debt worries and confusion about the impact of the proposed carbon tax ...
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Frugal Canucks shop around, delay big purchases: RBC
CTV.ca
Banking stocks are getting slaughtered right now. European bond yields are absolutely soaring. Major corporations are announcing huge layoffs. The entire global financialsystem appears to be racing toward another major crisis..... potentially we will ...
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CTV.ca
Eurozone debt crisis summit: live
Telegraph.co.uk
But Juncker insisted that the euro was "not in danger" after weeks of market turbulence fuelled by fears that the Greek debt crisis will spread to Italy and Spain and across the global financial sector. 11.02 Leaders are arriving at the summit now, ...
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Telegraph.co.uk
Deals, earnings push stocks higher
MSN Money
Analysts anticipate profits of 58 cents a share and 8 cents a share, respectively. (Microsoft is the publisher of MSN Money.) Global stocks erased earlier losses as details of Europe's plan to halt the debt crisis emerged. ...
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Erdogan Boom Under Threat as Greek Crisis Exposes Turkey's Financing Risk
Bloomberg
It's mostly financed by short-term inflows to buy stocks and bonds, so-called “hot money,” not longer-term investments. More than half of the $7.8 billion gap in May was financed by inflows that the central bank can't exactly classify and lists only as ...
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Debt Crisis Implications
Council on Foreign Relations
Many of the financial officials have been, you know, rather upbeat about the ability of the United States to figure out the problem. Many have commented on the reality that there aren't obvious alternatives to the dollar as an investment vehicle or ...
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Citadel Pushes E*Trade to Sell
Wall Street Journal
It managed nearly $20 billion before the 2008-09 financial crisis, but losses from a range of investments helped shrink assets by $8 billion. Citadel lost money as holdings such as high-yield debt and convertible bonds tumbled in value and became hard ...
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Morgan Stanley's trading revenue up; stock soars
San Antonio Express
Mitsubishi UFJ Financial Group helped rescue Morgan Stanley during the 2008 financial crisis with an investment of $9 billion. The quarterly loss was equivalent to 38 cents per share, much less than the 61-cent loss analysts were expecting. ...
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Investors Flee Safe Havens
Wall Street Journal
One possible move would be tapping the €440 billion ($624 billion) European Financial Stability Facility, the region's bailout mechanism, to buy Greek government bonds from the secondary market. Another option would be levying taxes on banks as a way ...
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Bold Investors Make Bullish Bets on Euro
Wall Street Journal
Euro-zone officials are holding an emergency summit Thursday to try tackling Greece's financial crisis and prevent contagion to larger countries. "People are so focused on the details that they miss the elephant charging in the background," said Pierre ...
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Tim Price: The surgery was a success, but the patient died - Fullermoney
Proactive Investors UK
However the post-financial crisis experience in a number of regions (Japan twenty years ago, and more recently the US and Europe) cautions that book value tends to impart a gravitational pull onstock prices in the aftermath of a bubble. ...
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America's Permanent Deficit Problems: On the Road to Armageddon
Seeking Alpha
With Sarbanes-Oxley fully functioning for several years, the 2008 financial crisis happened, and it was premised on the kind of accounting fraud the act was supposed to avert. Banks placed mortgage backed securities in offshore structured investment ...
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Opinion: Direction for Futures Traders is Coming, One Way or Another
Hedgeworld (subscription)
In the end, Volcker knew what he was doing because for the next 20 years, bonds and stocksrallied, inflation remained tame and real estate prices skyrocketed. Only one recession—the savings and loan crisis of the late 1980s—interrupted the run of ...
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Turkey's Fitch Upgrade Uncertain on Deficit; Stocks Plunge
BusinessWeek
The deficit is the biggest risk to Turkey's financial stability, according to a central bank report in May. Turks should save their money because “dark clouds are gathering over the global economy,” potentially leading to a global crisis that will hurt ...
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Morgan Stanley reports pickup in trading revenue
Atlanta Journal Constitution
The New York investment bank did better than its rivals in the key area of executing trades for its clients in bonds, stocks, commodities and other financial instruments. While most other Wall Street banks reported declines in the second quarter, ...
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Thursday Newspaper Review - Irish Business News and International Stories ...
FinFacts Ireland
US response to financial crisis under pressure - - Democrats from New York, led by senator Charles Schumer, joined Republican colleagues in writing to regulators to argue that the non-US arms of Wall Street banks like JPMorgan and Goldman Sachs should ...
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FinFacts Ireland

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