Portugal: What Standard & Poor's Downgrade Means For The Country's Banks (00:20:59 min)
Since March 28th, 2011, we have downgraded, by several notches, the five Portuguese banks that we rate to 'BBB-'. We have also lowered the short-term ratings to 'A-3'. The outlooks on four of the five banks are negative. One bank still remains on CreditWatch negative. What prompted our rating actions on the banks? In this podcast, Director Elena Iparraguirre explains our rationale, why we feel sovereign risk and banks' ratings are so tighthly correlated, and our main expectations for the Portuguese financial system.
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Wednesday, April 6, 2011
S&P: Why Municipal Risk Is Low For Rated U.S. Banks
Why Municipal Risk Is Low For Rated U.S. Banks (00:06:06 min)
There has been market debate about the outlook for municipal risk and U.S. banks' potential exposure to it, particularly in their loan portfolios and securities holdings. However, Standard & Poor’s believes the banks it rates aren't really facing significant exposure to municipal risk. In this CreditMatters TV segment, Managing Director Rodrigo Quintanilla explains why and discusses our findings.
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There has been market debate about the outlook for municipal risk and U.S. banks' potential exposure to it, particularly in their loan portfolios and securities holdings. However, Standard & Poor’s believes the banks it rates aren't really facing significant exposure to municipal risk. In this CreditMatters TV segment, Managing Director Rodrigo Quintanilla explains why and discusses our findings.
Watch | Download
Tuesday, April 5, 2011
WSJ: RBI's Gokarn: High Inflation Can't Be New Normal
ECONOMY|APRIL 5, 2011, 5:12 A.M. ET
RBI's Gokarn: High Inflation Can't Be New Normal
By SOURAV MISHRA, BIJOU GEORGE and SUBHADIP SIRCAR
MUMBAI—India cannot risk accepting high inflation as the "new normal," nor can the central bank be a bystander, a deputy governor of the Reserve Bank of India said Tuesday.
RBI's Gokarn: High Inflation Can't Be New Normal
By SOURAV MISHRA, BIJOU GEORGE and SUBHADIP SIRCAR
MUMBAI—India cannot risk accepting high inflation as the "new normal," nor can the central bank be a bystander, a deputy governor of the Reserve Bank of India said Tuesday.
WSJ: OECD Frets Over Inflation
EUROPE NEWS|APRIL 5, 2011, 5:21 A.M. ET
OECD Frets Over Inflation
By GABRIELE PARUSSINI
PARIS—Economic growth in the world's richest countries outside disaster-stricken Japan is gaining strength, the Organization for Economic Cooperation and Development said Tuesday in an upbeat interim assessment, but warned that a rise in commodity prices may push up inflation expectations.
OECD Frets Over Inflation
By GABRIELE PARUSSINI
PARIS—Economic growth in the world's richest countries outside disaster-stricken Japan is gaining strength, the Organization for Economic Cooperation and Development said Tuesday in an upbeat interim assessment, but warned that a rise in commodity prices may push up inflation expectations.
Bloomberg: Bernanke Says Fed Must Monitor Inflation ‘Extremely Closely’
Related News: Economy · U.S. · Currencies · Germany
Bernanke Says Fed Must Monitor Inflation ‘Extremely Closely’
By Scott Lanman and Steve Matthews - Apr 5, 2011 1:00 PM GMT+0900
Federal Reserve Chairman Ben S. Bernanke said policy makers must watch inflation “extremely closely” for evidence that rising commodity costs are having more than a temporary impact on consumer prices.
Bernanke Says Fed Must Monitor Inflation ‘Extremely Closely’
By Scott Lanman and Steve Matthews - Apr 5, 2011 1:00 PM GMT+0900
Federal Reserve Chairman Ben S. Bernanke said policy makers must watch inflation “extremely closely” for evidence that rising commodity costs are having more than a temporary impact on consumer prices.
WSJ: IMF Chief: 'Black Swans' Still Haunt Global Finance
BUSINESS|APRIL 4, 2011, 8:46 P.M. ET
IMF Chief: 'Black Swans' Still Haunt Global Finance
By IAN TALLEY
WASHINGTON—The global economic recovery is still fragile, uneven and "beset by great uncertainty," the head of the International Monetary Fund said late Monday.
IMF Chief: 'Black Swans' Still Haunt Global Finance
By IAN TALLEY
WASHINGTON—The global economic recovery is still fragile, uneven and "beset by great uncertainty," the head of the International Monetary Fund said late Monday.
Monday, April 4, 2011
Bloomberg: Geithner Says U.S. To Reach Debt Limit No Later Than May 16
Related News: Economy
Geithner Says U.S. To Reach Debt Limit No Later Than May 16
By Rebecca Christie and Phil Mattingly - Apr 5, 2011 6:34 AM GMT+0900
The U.S. will reach its $14.29 trillion legal debt limit no later than May 16 unless Congress acts before then, Treasury Secretary Timothy F. Geithner said today, and he warned of “severe hardship” for Americans if lawmakers fail to act.
Geithner Says U.S. To Reach Debt Limit No Later Than May 16
By Rebecca Christie and Phil Mattingly - Apr 5, 2011 6:34 AM GMT+0900
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| Treasury Secretary Timothy F. Geithner |
Sunday, April 3, 2011
Bloomberg: U.S. Service Industries Probably Grew at Close to Fastest Pace Since 2005
Related News: Economy · U.S.
U.S. Service Industries Probably Grew at Close to Fastest Pace Since 2005
By Timothy R. Homan - Apr 3, 2011 1:00 PM GMT+0900
Service industries probably expanded in March at close to the fastest pace since 2005, a sign the U.S. economic expansion is broadening beyond manufacturing, economists said ahead of a report this week.
U.S. Service Industries Probably Grew at Close to Fastest Pace Since 2005
By Timothy R. Homan - Apr 3, 2011 1:00 PM GMT+0900
Service industries probably expanded in March at close to the fastest pace since 2005, a sign the U.S. economic expansion is broadening beyond manufacturing, economists said ahead of a report this week.
Thursday, March 31, 2011
Bloomberg: Drop in U.S. Jobless Claims, Rising Consumer Confidence Point to Recovery
Related News: U.S. · Economy · Retail
Drop in U.S. Jobless Claims, Rising Consumer Confidence Point to Recovery
By Timothy R. Homan and Alex Kowalski - Apr 1, 2011 5:28 AM GMT+0900
Fewer Americans filed claims for jobless benefits last week and consumer confidence stabilized, a sign the world’s largest economy is weathering the jump in commodity prices heading into the second quarter.
Drop in U.S. Jobless Claims, Rising Consumer Confidence Point to Recovery
By Timothy R. Homan and Alex Kowalski - Apr 1, 2011 5:28 AM GMT+0900
Fewer Americans filed claims for jobless benefits last week and consumer confidence stabilized, a sign the world’s largest economy is weathering the jump in commodity prices heading into the second quarter.
Bloomberg: Business Activity in U.S. Expands Faster Than Forecast in Chicago Survey
Related News: Economy · U.S.
Business Activity in U.S. Expands Faster Than Forecast in Chicago Survey
By Shobhana Chandra - Mar 31, 2011 11:25 PM GMT+0900
Business activity in the U.S. expanded at a faster pace than forecast in March, signaling manufacturing remains a driver of growth in the world’s largest economy.
Business Activity in U.S. Expands Faster Than Forecast in Chicago Survey
By Shobhana Chandra - Mar 31, 2011 11:25 PM GMT+0900
Business activity in the U.S. expanded at a faster pace than forecast in March, signaling manufacturing remains a driver of growth in the world’s largest economy.
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