Monday, 06 July, 2015
(Bloomberg) — Greece voted against yielding to further austerity demanded by creditors, leaving Europe’s leaders to determine if the nation can remain in the euro. Sixty-one percent of voters backed Prime Minister Alexis Tsipras’s rejection of further spending cuts and tax increases in an unprecedented referendum that’s also taken the country to the brink of financial collapse. Outspoken Greek Finance Minister Yanis Varoufakis resigned after the Sunday vote, giving Greece a chance to lower the […] Read More
Wednesday, 01 July, 2015
(Bloomberg) — European stocks rose with U.S. equity-index futures as Greek Prime Minister Alexis Tsipras signaled he was ready to compromise to end a standoff over a bailout. German bunds and Treasuries declined, while oil dropped amid signs a global glut will persist. The Stoxx Europe 600 Index added 1.7 percent by 7 a.m. in New York, while Standard & Poor’s 500 Index futures advanced 0.8 percent following the index’s first three-month drop in 10 […] Read More
Tuesday, 30 June, 2015
(Bloomberg) — Asian stocks rose with U.S. index futures in the wake of a $1.5 trillion global rout Monday, while the euro pared a quarterly advance as investors watch developments in Greece. Chinese shares reversed losses as the government stepped up efforts to buoy sentiment amid a bear market. The MSCI Asia Pacific Index added 0.9 percent by 2:48 p.m. in Tokyo, while Standard & Poor’s 500 Index futures rose 0.3 percent. The MSCI All […] Read More
Monday, 29 June, 2015
From AFR Contributing Editor Christopher Joye Global traders are up in arms that Greece, a country with only 11 million residents and annual GDP less than that of Israel or Chile, is giving them yet another bout of whip-lash. While there is deep anxiety as to how this chaotic Greek drama plays out, there may be counter-intuitive grounds for optimism. First, there’s a very good chance that the 5 July referendum called by the Greek Prime […] Read More
Monday, 29 June, 2015
WSJ- Greece Orders Banks Closed, Imposes Capital Controls to Stem Deposit Flight – Greece shut down its banking system, ordering lenders to stay closed for six days starting Monday, and its central bank moved to impose controls to prevent money from flooding out of the country.The steps, a fateful climax to five years of debt crisis, puts Greece closer than it ever has been to an exit from the euro and pushes the common currency […] Read More
Monday, 29 June, 2015
FT- Whatever the outcome, the result will most likely be deadlock. According to the – Beyond the cost, though, there is the problem that this poll has no real objective. The bailout proposal was not final and it has already been recalled.Voting on a non-existing proposal is surreal and only serves to highlight that the referendum is really about the standing of Greece in Europe.According to the Greek government, a No vote will pressure the […] Read More
Monday, 29 June, 2015
German, Dutch banks ‘well-prepared’ for Greek financial ructions – German and Dutch banks said on Sunday said they were fortified against possible financial turmoil in Greece this week after the country announced it would keep banks closed on Monday and would introduce capital controls…"We are very well-prepared because we’ve been anticipating a situation like this for a long time," said a spokesman for Germany’s second biggest lender, Commerzbank. The Athens stock exchange will also be […] Read More
Thursday, 25 June, 2015
(Bloomberg) — Household spending climbed in May by the most in almost six years, buoyed by gains in incomes as the U.S. job market strengthened. Purchases increased 0.9 percent, the biggest gain since August 2009, after rising 0.1 percent in April, Commerce Department figures showed Thursday in Washington. The median forecast of 75 economists in a Bloomberg survey called for a 0.7 percent advance. Incomes rose 0.5 percent for a second month. Consumers may finally […] Read More
Thursday, 25 June, 2015
(Bloomberg) — French President Francois Hollande held out hope of a deal for Greece even as German Chancellor Angela Merkel said negotiations looked to be going backward. The differing tones from the heads of Europe’s two biggest economies reflected the frustration among leaders and finance ministers after days of talks in Brussels that have failed to yield a breakthrough. With finance chiefs meeting for their fourth session on Greece in a week, “we don’t […] Read More
Tuesday, 23 June, 2015
(Bloomberg) — The dollar strengthened and Treasuries fell as a Federal Reserve official suggested interest rates may rise as soon as September amid data showing a gain in orders for business equipment. European stocks rallied on optimism a deal on Greece is near. The Bloomberg Dollar Spot Index jumped 0.9 percent at 9:31 a.m. in New York. The yield on 10-year Treasury notes climbed five basis points to 2.43 percent. The Standard & Poor’s 500 […] Read More
