Too Big to Rescue Italy Forces EMU to Crossroads: Euro Credit
By Mark Gilbert and Jesse Westbrook - 2011.11.10 01:51 AM
Italy is forcing Europe to choose between increased bond buying by the European Central Bank or a possible breakup of the euro.
Thursday, November 10, 2011
Tuesday, November 8, 2011
USA Today: Foreclosure backlogs could take decades to clear out
Foreclosure backlogs could take decades to clear out
By Julie Schmit, USA TODAY
2011.11.08 07:14 PM
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.
By Julie Schmit, USA TODAY
2011.11.08 07:14 PM
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.
CNNMoney: Greek debt crisis: Shades of Argentina
Europe's Debt Crisis
Greek debt crisis: Shades of Argentina
By James O'Toole @CNNMoney November 8, 2011: 11:17 AM ET
NEW YORK (CNNMoney) -- Barack Obama, Nicolas Sarkozy and Angela Merkel descended on the G-20 summit last week intent on stabilizing Greece and resolving the European debt crisis. But Athens may instead end up seeking guidance from an unlikely source: Argentina.
Greek debt crisis: Shades of Argentina
By James O'Toole @CNNMoney November 8, 2011: 11:17 AM ET
NEW YORK (CNNMoney) -- Barack Obama, Nicolas Sarkozy and Angela Merkel descended on the G-20 summit last week intent on stabilizing Greece and resolving the European debt crisis. But Athens may instead end up seeking guidance from an unlikely source: Argentina.
USA Today: Mortgage payments show surprising rise in delinquencies
Mortgage payments show surprising rise in delinquencies
By Eileen AJ Connelly, Associated Press
2011.11.08 08:20 AM
NEW YORK – While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners were having a harder time making their mortgage payments.
By Eileen AJ Connelly, Associated Press
2011.11.08 08:20 AM
NEW YORK – While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners were having a harder time making their mortgage payments.
Sunday, November 6, 2011
Bloomberg: Europe Crisis Timeline: Maastricht to Papandreou
Europe Crisis Timeline: Maastricht to Papandreou
By Bloomberg News - 2011.11.06 05:01 PM
Following is a timeline of Europe’s debt crisis from the signing of the Maastricht Treaty to Greece’s agreement to set up a government of national unity.
1992 Feb. 7: Maastricht Treaty signed, setting up an “irrevocable” monetary union without a central finance ministry or a mechanism to leave the euro.
By Bloomberg News - 2011.11.06 05:01 PM
Following is a timeline of Europe’s debt crisis from the signing of the Maastricht Treaty to Greece’s agreement to set up a government of national unity.
1992 Feb. 7: Maastricht Treaty signed, setting up an “irrevocable” monetary union without a central finance ministry or a mechanism to leave the euro.
SG: Global Economic Outlook - Outlook 2012: Euro area will be knocked into recession
Global Economic Outlook - Outlook 2012: Euro area will be knocked into recession
2011.11.06 04:47 PM
■ Outlook 2012: Euro area will be knocked into recession
The bombshell of the announcement of the Greek referendum (now off the agenda) and new twists and turns in Italian politics made the decline in financial stress offered by the euro summit agreement only fleeting. The persistence of this extremely high level of financial stress is the trigger for the downgrade to our global economic outlook, and we now see recession in the euro area. Our full year 2012 forecast now stands at 0% for the euro area, 1.4% for the US and 8.1% for China, which places us below consensus for both 2012 and 2013. Against this backdrop, we expect G4 central banks to pursue an extended period of policy accommodation. The risk to the forecasts remains skewed to the downside with potential for fiscal policy errors, notably in the euro area and the US.
2011.11.06 04:47 PM
■ Outlook 2012: Euro area will be knocked into recession
The bombshell of the announcement of the Greek referendum (now off the agenda) and new twists and turns in Italian politics made the decline in financial stress offered by the euro summit agreement only fleeting. The persistence of this extremely high level of financial stress is the trigger for the downgrade to our global economic outlook, and we now see recession in the euro area. Our full year 2012 forecast now stands at 0% for the euro area, 1.4% for the US and 8.1% for China, which places us below consensus for both 2012 and 2013. Against this backdrop, we expect G4 central banks to pursue an extended period of policy accommodation. The risk to the forecasts remains skewed to the downside with potential for fiscal policy errors, notably in the euro area and the US.
Saturday, November 5, 2011
CNNMoney: Europe: the worst-case scenarios
Europe's Debt Crisis
Europe: the worst-case scenarios
By Steve Hargreaves @CNNMoney November 5, 2011: 9:28 AM ET
NEW YORK (CNNMoney) -- The immediate threat in Greece has passed. But the crisis is far from over.
Europe: the worst-case scenarios
By Steve Hargreaves @CNNMoney November 5, 2011: 9:28 AM ET
NEW YORK (CNNMoney) -- The immediate threat in Greece has passed. But the crisis is far from over.
ZEW/gif Office Market Forecast - Rents For Offices in Prime Locations Strongly Increase
ZEW/gif Office Market Forecast - Rents For Offices in Prime Locations Strongly Increase
Prime rents at the five largest German office real estate markets Berlin, Hamburg, Frankfurt, Düsseldorf and Munich will considerably increase by the end of 2012. At the same time, the vacancy rate will hardly be reduced –with the exception of Düsseldorf and Frankfurt. These are the findings of the second survey among real estate market experts, which was conducted by the gif-Arbeitskreis Marktanalysen und Bedarfsprognosen (gif market analysis and demand forecasting working group) in cooperation with the Centre for European Economic Research (ZEW) in Mannheim.
http://www.zew.de/en/press/1693/zewgif-office-market-forecast---rents-for-offices-in-prime-locations-strongly-increase
Prime rents at the five largest German office real estate markets Berlin, Hamburg, Frankfurt, Düsseldorf and Munich will considerably increase by the end of 2012. At the same time, the vacancy rate will hardly be reduced –with the exception of Düsseldorf and Frankfurt. These are the findings of the second survey among real estate market experts, which was conducted by the gif-Arbeitskreis Marktanalysen und Bedarfsprognosen (gif market analysis and demand forecasting working group) in cooperation with the Centre for European Economic Research (ZEW) in Mannheim.
http://www.zew.de/en/press/1693/zewgif-office-market-forecast---rents-for-offices-in-prime-locations-strongly-increase
Friday, November 4, 2011
SG: Eco Analysis - US Employment Report: Don't be misled by the October prints (B. Jones)
Eco Analysis - US Employment Report: Don't be misled by the October prints (B. Jones)
2011.11.04 06:34 AM
■ October job gains failed to match our forecasts, but revisions placed levels even higher
The Bureau of Labor Statistics (BLS) reported that nonfarm payrolls climbed by 80K in October, or by 104K after adjusting for continued pink-slipping by governmental entities. While last month's payroll gains failed to meet our and the Street's expectations, significant upward revisions to the previously reported figures for August and September actually left the October tallies well above projected levels. August was almost doubled from 57K to 104K, while another 55K jobs were added to the original 103K September estimate. It is worth nothing that this is the second consecutive report that saw the BLS' prior projections boosted about roughly 100K jobs.
2011.11.04 06:34 AM
■ October job gains failed to match our forecasts, but revisions placed levels even higher
The Bureau of Labor Statistics (BLS) reported that nonfarm payrolls climbed by 80K in October, or by 104K after adjusting for continued pink-slipping by governmental entities. While last month's payroll gains failed to meet our and the Street's expectations, significant upward revisions to the previously reported figures for August and September actually left the October tallies well above projected levels. August was almost doubled from 57K to 104K, while another 55K jobs were added to the original 103K September estimate. It is worth nothing that this is the second consecutive report that saw the BLS' prior projections boosted about roughly 100K jobs.
Bloomberg: Bill Gross Rebounds From Bottom Ranking as Riskier Assets Surge
Bill Gross Rebounds From Bottom Ranking as Riskier Assets Surge
By Sree Vidya Bhaktavatsalam - 2011.11.03 09:01 PM
Bill Gross’s Pimco Total Return Bond Fund, which is having its worst run this year since at least 1995, regained its spot among top bond funds last month as investors returned to riskier assets.
By Sree Vidya Bhaktavatsalam - 2011.11.03 09:01 PM
Bill Gross’s Pimco Total Return Bond Fund, which is having its worst run this year since at least 1995, regained its spot among top bond funds last month as investors returned to riskier assets.
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