Death Star Economics

Icon

ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Braced for a week full of numbers

There’s not that much out there today in terms of news or maybe I’m just getting too used to scandals… It seems like there’s a collective hangover causing refrain from doing world-changing things. Fair enough maybe, because the week will be packed with sentiment and inflation indicators, and Ben Bernanke talking monetary policy on Tuesday and Wednesday. In more detail: read article

Or as according to FT markets editor Chris Adams:

Today’s must-know fact: Barclays’ ex-COO, Jerry Del Missier, has a tattoo of his dog on his shoulder.

Alright then… Del Missier is facing the Treasury committee today.

Unless, of course, you hold any senior bonds of Spanish bank debt, in which case you may be a bit agitated today. The European central bank is now backing a value cut for Spanish debt holders higher up in the repayment hierarchy. In effect, agreeing to a haircut for creditors, unlike in the Irish bailout, where this was heavily disputed, will lead to a smaller debt burden for the Spanish citizens in the years to come. WSJ FT Alphaville

Also, earnings continue to disappoint and financial services earnings are likely to be down 0.1% from last year, excluding Bank of America, whose earnings are distorted by a big mortgage settlement, says WSJ.

In terms of speculation regarding quantitative easing in China, we have prime minister Wen Jiabao saying the recovery of China’s economy was “yet to develop momentum” in the right corner, and rising wages, suggesting economic strength, in the left.

Otherwise, the United Arab Emirates and Saudi Arabia have found a way to rob Iran off some of its power over oil supply: a new pipeline will render Iran’s threats to close the Strait of Hormuz and thus cut off supply irrelevant. read article

Hillary Clinton is currently visiting Egypt, where she is talking to effectively all key figures in the Egyptian military. Yet, she’s the enemy in the public eye and her car convoy was attacked with tomatoes and shoes on her way through Alexandria. Interestingly, the latter bit of information is the German angle on the story – the diplomatic mission is the British one..

Finally, Reuter’s Photographer’s Blog features a series on Angela Merkel’s faceread article

So long.

Advertisements

Filed under: news brief, , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: