Mar 282015
 
 March 28, 2015  Posted by at 11:59 am Finance Tagged with: , , , , , , ,  No Responses »
Debt Rattle March 28 2015

• Yellen Sees Gradual Pace of Rate Increases Starting This Year (Bloomberg) • Housing Contribution To US GDP Lowest In Post-War Era (Zero Hedge) • The Bottom’s Not In – This Market Is Dumber Than A Mule (David Stockman) • Greek Crisis Nears A Turning Point (MarketWatch) • Austerity Is Greece’s Only Hope (Hans-Werner Sinn) • Varoufakis Denies Resignation, Greeks Accused Of “Gambling” Away Trust (Teleg.) • Alternate Greek FinMin Tsakalotos Says Athens ‘Prepared For Rift’ (Kathimerini) • Greece Submits

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Mar 272015
 
 March 27, 2015  Posted by at 10:52 pm Finance Tagged with: , , , ,  4 Responses »
Greece Prepares To Leave

Speculation and expert comments are thrown around once more – or still – like candy on Halloween. Let me therefore retrace what I’ve said before. Because I think it’s really awfully simple, once you got the underlying factors in place. But first, if one thing has become obvious after Syriza was elected to form a Greek government on January 25, it’s that the party is not ‘radical’ or ‘extremist’. Those monikers can now be swept off all editorial desks across

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Mar 272015
 
 March 27, 2015  Posted by at 8:09 am Finance Tagged with: , , , , , , , , ,  4 Responses »
Debt Rattle March 27 2015

• For Most American Families, Wealth Has Vanished (Yahoo!) • Fed Officials Say Rate Hike Plan Intact Despite Weak US Data (Reuters) • China Stocks May Be In Serious Bubble (MarketWatch) • You’re Playing Liar’s Poker at the Wall Street Casino (Paul B. Farrell) • European Central Bank QE Is Masking Eurozone Struggles (MM) • No, Greece Is NOT The Most Unhelpful Country Ever, IMF Says (MarketWatch) • Greek Bank Deposits Plunge to 10-Year Low (Bloomberg) • Charting Greece’s Draining

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Mar 262015
 
 March 26, 2015  Posted by at 11:19 pm Finance Tagged with: , , , , , ,  4 Responses »
Kiev, Moscow, Bonds and Haircuts

When money managers talk outside their narrow field, nonsense is guaranteed to ensue. No better example than this Bloomberg piece on Ukraine’s ‘debt restructuring’ plans, which are as much a political tool as they are anything else at all. Ukraine’s American Finance Minister has announced a broad restructuring plan with a wide range of severe haircuts for creditors, and she – well, obviously – wishes to include Russia in the group of creditors who are about to get their heads

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Mar 262015
 
 March 26, 2015  Posted by at 8:25 am Finance Tagged with: , , , , , , , , , , ,  3 Responses »
Debt Rattle March 26 2015

• US Economy Heads Toward Zero Growth in Q1 (WolfStreet) • US Home Prices Are Surging 13 Times Faster Than Wages (Bloomberg) • UK Household Debt Soars By 9% To Hit A Record £239bn (Independent) • ECB Bond Buying To Continue Till Inflation Reaches 2%: Draghi (WSJ) • Europe Blocks Desperate Greek Attempt To Stay Afloat (Telegraph) • Eurozone Said to Give Greece Five Days to Deliver Plan (Bloomberg) • Greek Central Bank Governor Stournaras Says Grexit Isn’t An Option

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Mar 252015
 
 March 25, 2015  Posted by at 10:41 pm Finance Tagged with: , , , , , ,  3 Responses »
The Oil Price Crash and Economic Slow Down in China

This is another essay from friend and regular contributor of The Automatic Earth, Euan Mearns at Energy Matters. One comment on my part: Euan says ‘This has lead to speculation that weak global demand, stemming from masked economic woes, may also be playing a key role.‘ I don’t think the use of the term ‘speculation’ is appropriate here, because it seems overly obvious that China’s economic slowdown has played a major role in the oil price crash (and continues to

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Mar 252015
 
 March 25, 2015  Posted by at 7:39 am Finance Tagged with: , , , , , , , , ,  No Responses »
Debt Rattle March 25 2015

• The Long-Distance Relationship Between Americans and Jobs (WSJ) • American Cash Is Flooding Into European Stocks (CNN) • Bank of Canada, Government and Others Face Lawsuit for IMF Conspiracy (Epoch T.) • ECB Said to Limit Greek Lenders’ Treasury-Bill Holdings (Bloomberg) • Greeks Celebrate Independence as EU Creditors Discuss Their Fate (Bloomberg) • Next Task For Tsipras Is To Convince His Party (Kathimerini) • Greece: Fascists At The Gate (Hallinan) • China’s Influence Poised To Climb In Revamp Of

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Mar 242015
 
 March 24, 2015  Posted by at 10:02 am Finance Tagged with: , , , , , , ,  9 Responses »
Short Term Gains And Long Term Disaster

About a month ago, Japan’s giant GPIF pension fund announced it had started doing in Q4 2014, what PM Abe had long asked it to: shift a large(r) portion of its investment portfolio from bonds to stocks. No more safe assets for the world’s largest pension fund, or a lot less at least, but risky ones. For Abe this promises the advantage of an economy that looks healthier than it actually is, while for the fund it means that the

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Mar 242015
 
 March 24, 2015  Posted by at 7:27 am Finance Tagged with: , , , , , , ,  4 Responses »
Debt Rattle March 24 2015

• The World’s Next Credit Crunch Could Make 2008 Look Like A Hiccup (Telegraph) • No Risk Too Big as Bond Traders Plot Escape From Negative Yields (Bloomberg) • Fed’s Fischer Says Rate Rise Probably Warranted by End-2015 (Bloomberg) • Shadow Banking System Shows Signs of Stabilizing After Collapse (Bloomberg) • The Unbearable Exuberance of China’s Markets (Pesek) • Oil Majors Pile On Record Debt To Plug Cash Shortfalls (FT) • Pension Funds Shun Bonds Just as Southeast Asia Needs

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Mar 232015
 
 March 23, 2015  Posted by at 8:49 am Finance Tagged with: , , , , , , , ,  7 Responses »
Debt Rattle March 23 2015

• World Faces 40% Water Shortfall In 15 Years: UN (MarketWatch) • Liquidity Crisis Could Spark The Next Financial Crash (Telegraph) • Strong Dollar Hammers Profits at US Multinationals (WSJ) • How Europe And US Stumbled Into Spat Over China-Led Bank (CNBC) • Lagarde Says IMF ‘Delighted’ To Co-operate With China-Led AIIB Bank (BBC) • US to Seek Collaboration With China-Led Investment Bank (WSJ) • France Is Europe’s ‘Big Problem’, Warns Mario Monti (Telegraph) • Draghi Cheerleads for Economy as

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