The day after the rating agency S&P cut most major U.S. bank credit ratings, the Federal Reserve along with five other Central banks lowered the cost of emergency dollar funding for financial institutions. The Fed along with the ECB, Bank of Canada, Bank of England, Bank of Japan and Swiss National Bank, coordinated a move [...]
Friday, forecasters expect the Labor Department to report the economy added only 120,000 jobs in November, after scoring a nonplus 80,000 gain in October. The three month moving average stands at 120,000 jobs, a pace inadequate to much lower unemployment.
We are proud to share with everyone the analysis done by Dixon Fung for SAFE Magazine. [Click to Download PDF] SAFE Magazine is a division of SAFE under the PBOC the Central Bank of People’s Republic of China.
As Italy teeters on insolvency and the euro on collapse, European leaders are desperately seeking amendments to EU treaties that would legally limit national budget deficits. However, a new fiscal discipline would not address fundamental flaws in the euro architecture that caused Mediterranean states to become uncompetitive and borrow too much.
Global equities continued last night’s rally on news of IMF pledging a fund for Italy if needed and strong “Black Friday” retail sales in the United States. European markets gained close to 5 percent and the U.S. S&P rose 2.92 percent today. Dow Jones Industrial finished the day up 291 points. The retirement announcement of [...]
The S&P futures-index is rallying after news that the IMF is preparing a 600 billion Euro loan to Italy in case its debt situation worsens. At the time of this article, the S&P is up 1.8 percent during Tokyo trading hours. Gold Futures also advanced 1 percent to $1,705 and Silver gained 2 percent to [...]
Conditions in Europe are deteriorating at a rapid pace. Today, Germany’s 10-year bond auction was horrible; it failed to receive bids for 35 percent of the German Bonds offered.
The latest report on the missing customer funds from MF Global is twice that of what was first estimated. The trustee that oversees the assets of the bankrupt MF Global said the shortfall of the customers’ money can exceed $1.2 billion.