Credit Issues In 2011: What To Expect (00:20:49 min)
In this podcast, Standard & Poor's analysts from our San Francisco office weigh in on what they believe are the biggest issues facing the telecommunications, cable, electric utilities, municipal finance, higher education, and transportation industries in 2011.
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Saturday, January 29, 2011
A Home For The Holidays (S&P)
Economic Update: A Home For The Holidays (00:03:48 min)
Standard & Poor's Senior Economist Beth Ann Bovino notes that households in search of a home found one this December, with surprisingly robust sales figures reported for both existing and new homes. The data add further evidence that the recovery is still in place. But the healthy pace was not enough to change the Fed's decision to stay the course at Wednesday’s policy meeting.
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Standard & Poor's Senior Economist Beth Ann Bovino notes that households in search of a home found one this December, with surprisingly robust sales figures reported for both existing and new homes. The data add further evidence that the recovery is still in place. But the healthy pace was not enough to change the Fed's decision to stay the course at Wednesday’s policy meeting.
Watch
The Start Of A Housing Recovery ... (S&P)
The Start Of A Housing Recovery Could Frame A Stable Year For U.S. Homebuilding And Building Products (00:06:50 min)
In this CreditMatters TV segment, Standard & Poor's Senior Director James Fielding and Director Thomas Nadramia discuss the 2011 industry outlooks for the Homebuilding and Building Products sectors, respectively. Although our economists believe that housing starts will increase continued foreclosures, low employment, and still-falling home prices could extend the housing recovery. Home prices themselves may also decrease due to the elevated amount of existing homes for sale, but adequate to strong liquidity may help companies fund growth.
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In this CreditMatters TV segment, Standard & Poor's Senior Director James Fielding and Director Thomas Nadramia discuss the 2011 industry outlooks for the Homebuilding and Building Products sectors, respectively. Although our economists believe that housing starts will increase continued foreclosures, low employment, and still-falling home prices could extend the housing recovery. Home prices themselves may also decrease due to the elevated amount of existing homes for sale, but adequate to strong liquidity may help companies fund growth.
Watch
Friday, January 28, 2011
Daily Beast: America's Greatest Challenge
The Daily Beast
America's Greatest Challenge
Jan 28, 2011 6:58 AM EST
Legendary geopolitical forecaster George Friedman says that in the next decade America must face the realities of its position as a global empire without losing its republican soul.
America's Greatest Challenge
Jan 28, 2011 6:58 AM EST
Legendary geopolitical forecaster George Friedman says that in the next decade America must face the realities of its position as a global empire without losing its republican soul.
Thursday, January 27, 2011
Brazil talks tough on inflation, urges gov't to help (Reuters)
Brazil talks tough on inflation, urges gov't to help
Thu Jan 27, 2011 4:47pm EST
Brazil's budget deficit, including debt repayments, stood at 14.4 billion reais ($8.6 billion) in November, nearly five times larger than a year earlier.
JOBS, INFLATION SURGING
Neil Shearing, senior emerging markets economist at Capital Economics Ltd in London, said the central bank's minutes "are unequivocally hawkish."
"If there were any lingering doubts as to whether or not (the central bank) would shift priorities under the new governor, Alexandre Tombini, I think they've been well and truly banished now," Shearing said.
(more)
Thu Jan 27, 2011 4:47pm EST
Brazil's budget deficit, including debt repayments, stood at 14.4 billion reais ($8.6 billion) in November, nearly five times larger than a year earlier.
JOBS, INFLATION SURGING
Neil Shearing, senior emerging markets economist at Capital Economics Ltd in London, said the central bank's minutes "are unequivocally hawkish."
"If there were any lingering doubts as to whether or not (the central bank) would shift priorities under the new governor, Alexandre Tombini, I think they've been well and truly banished now," Shearing said.
(more)
Wednesday, January 26, 2011
The Eurozone's Three-Speed Recovery Could Leave Some Members' Competitiveness In The Slow Lane
The Eurozone's Three-Speed Recovery Could Leave Some Members' Competitiveness In The Slow Lane (00:08:57 min)
Various economic indicators confirm our baseline forecast for a three-speed recovery in Western Europe over the next 18 months. The stronger economies are already successfully rebuilding their capital stock, while the slowest economies still need to increase their capital intensity, given the private sector's reluctance to invest in these countries. In this CreditMatters TV segment, Standard & Poor's Chief Economist Jean-Michel Six discusses how uneven recovery across Europe could aggravate structural differences over the long term for countries in the slowest growth track.
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Various economic indicators confirm our baseline forecast for a three-speed recovery in Western Europe over the next 18 months. The stronger economies are already successfully rebuilding their capital stock, while the slowest economies still need to increase their capital intensity, given the private sector's reluctance to invest in these countries. In this CreditMatters TV segment, Standard & Poor's Chief Economist Jean-Michel Six discusses how uneven recovery across Europe could aggravate structural differences over the long term for countries in the slowest growth track.
Watch
EMEA Oil And Gas Ratings Outlook For 2011
EMEA Oil And Gas Ratings Outlook For 2011 (00:07:28 min)
In this Credit Matters TV segment, Standard & Poor's Director Simon Redmond explains how rising oil prices affect our Europe, Middle East, and Africa oil and gas ratings and discusses why BP PLC still has a negative outlook.
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EMEA Metals And Mining Outlook For 2011 And Beyond (00:05:42 min)
In this Credit Matters TV segment, Standard & Poor's Director Simon Redmond explains how rising oil prices affect our Europe, Middle East, and Africa oil and gas ratings and discusses why BP PLC still has a negative outlook.
Watch
EMEA Metals And Mining Outlook For 2011 And Beyond (00:05:42 min)
Sunday, January 23, 2011
Global Price Fears Mount (WSJ)
EUROPE NEWS | JANUARY 23, 2011, 7:37 P.M. ET
Global Price Fears Mount
As Food, Raw Materials Soar, Europe's Central Bank Head Warns on Inflation
By BRIAN BLACKSTONE And MARCUS WALKER
Inflation fears—fueled by spiraling food, oil and raw material prices—are mounting around the globe, prompting the head of the European Central Bank to signal that it could raise interest rates in the future even though some countries have been weakened by the Continent's debt crisis.
Global Price Fears Mount
As Food, Raw Materials Soar, Europe's Central Bank Head Warns on Inflation
By BRIAN BLACKSTONE And MARCUS WALKER
Inflation fears—fueled by spiraling food, oil and raw material prices—are mounting around the globe, prompting the head of the European Central Bank to signal that it could raise interest rates in the future even though some countries have been weakened by the Continent's debt crisis.
Structured Finance Research Week: CMBS Recovery Model And The Impact Of Revised Counterparty Criteria
Structured Finance Research Week: CMBS Recovery Model And The Impact Of Revised Counterparty Criteria (00:12:20 min)
Howard Esaki, Zachary Wolf, James Manzi, and Erkan Erturk of Standard & Poor's Ratings Services' Global Structured Finance Research group discuss our commercial mortgage-backed securities (CMBS) recovery model, including the economic scenarios used, and how CMBX Index results compare across various industry models.
Howard Esaki, Zachary Wolf, James Manzi, and Erkan Erturk of Standard & Poor's Ratings Services' Global Structured Finance Research group discuss our commercial mortgage-backed securities (CMBS) recovery model, including the economic scenarios used, and how CMBX Index results compare across various industry models.
Tuesday, January 18, 2011
Sponsors' Action Plans Mitigate Number Of CreditWatch Placements In EMEA Structured Finance Due To Updated Counterparty Criteria
Sponsors' Action Plans Mitigate Number Of CreditWatch Placements In EMEA Structured Finance Due To Updated Counterparty Criteria (00:09:26 min)
Updates to Standard & Poor's Ratings Services' methodology for assessing counterparty risk in structured finance became effective on Jan. 18, 2011. As a result, we placed nearly 2,000 Europe, Middle East, and Africa (EMEA) structured finance ratings on CreditWatch negative, affecting 30% of transactions that we rate. However, many other transactions' sponsors provided us with action plans to mitigate any potential rating effect from the criteria update. In this CreditMatters TV segment, Senior Director Andrew South reveals the asset classes in which CreditWatch actions were most widespread, and discusses which sectors had the most action plans from transaction sponsors.
Updates to Standard & Poor's Ratings Services' methodology for assessing counterparty risk in structured finance became effective on Jan. 18, 2011. As a result, we placed nearly 2,000 Europe, Middle East, and Africa (EMEA) structured finance ratings on CreditWatch negative, affecting 30% of transactions that we rate. However, many other transactions' sponsors provided us with action plans to mitigate any potential rating effect from the criteria update. In this CreditMatters TV segment, Senior Director Andrew South reveals the asset classes in which CreditWatch actions were most widespread, and discusses which sectors had the most action plans from transaction sponsors.
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