The German 1 year note fell below zero; a first in history.
Comments »The European Bank to Bank Lending Rate, Euribor, Hits its Highest Levels Since 2009
Europe Pares Early Losses on China Reducing Bank Reserve Ratio
Economics Professor Karl Smith Says Europe is in a Dysfunctional Mode; Settlements and Repo Market Malfunctioning
[youtube://http://www.youtube.com/watch?v=ieuBkWHfCuc 450 300]
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EU Finance Ministers Approve a $10.7 Billion in Rescue Funds to Greece
Britain Admits Austerity is Not Working
MF Global Trustee to Return $2.1 Billion to Customers; Bringing the Total Return to $4.1 Billion
Customer accounts are still missing a whopping 22%. Hopefully that figure will not rise any further.
Comments »U.K. Gilt Makes a Historic Run
The U.K. gilt or bonds are yielding more than Germany at the current moment. Fitch says the U.K. is becoming the second most indebted sovereign behind the U.S.
Comments »Just Out of Brussels: EU Rehashing IMF Help as Leveraging EFSF Will Prove Nearly Impossible
More talks of talks on plans of plans. This will lead to rumors of rumors on plans to plan talks in creating a plan.
Comments »Europe’s Sovereign Debt Crisis Pushes World Into a Near Frozen Banking State
El-Erian: Europe Has Three Choices Including Collapse (video)
“1) “Fragmentation of the euro zone,” in which the 17 member nations would go their own way, which he said would be “incredibly disruptive not just for Europe but also for the global economy.”
2) “Full fiscal union,” in which the nations adopt uniform financial reforms that would be more political in nature.
3) A “middle ground” in which a “smaller but stronger euro zone” emerges where as many as three countries default on their debt and exit the EU.”
Comments »FLASH: GREEK CENTRAL BANK CHIEF SAYS DEPOSIT OUTFLOWS IN SEPT-OCT REACH 13-14 BLN EUROS
Get your bank run hats on.
Comments »Fed Says Leverage at Banks Has Dropped to 7:1
Corzine Gambled $11.5 Billion on Euro Bets; Twice The Amount Disclosed to Investors
Italian Debt Sale Goes Off Well; Euro, Markets, and Futures are Happy With a Twinge of Retard
FLASH: CHINA’S QUARRY, AUSTRALIA, UPGRADED TO AAA by FITCH
Australia is regarded as one of the world’s safest borrowers, after a global ratings agency upgraded the country to the highest possible rating for its overseas borrowings.
Fitch Ratings upgraded Australia’s foreign currency issuer default rating to AAA from AA+, joining Standard & Poor’s and Moody’s in giving Australia the highest possible rating.
Comments »Asian Central Banks Expected to Cut Interest Rates
The Euro sovereign debt crisis has made lending tougher lately; not to mention an anticipated slowdown in global growth.
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