From the Irish Examiner: The troika warned that a financial “bomb” would go off in Dublin, if Anglo senior bondholders were not repaid, a Government minister has said. He said the troika of EC, ECB and IMF, which is supplying Ireland’s bailout loans, had issued a stark warning to the Government about the consequences of [...]
From yesterday’s Kelly Letter comes the following excerpt from the January Policy Brief from The Peterson Institute for International Economics: Faced with the reality of failing adjustment programs, difficult politics, and rising risks that one or more peripheral nations may rebel, or Germany may rescind its support, investors may simply decide that the cumulative risks [...]
From Sunday’s Kelly Letter: Credit default swap spreads on the debt of large US and European banks climbed on concern that Greece is ready to default. A CDS is insurance against a loan default because it requires the seller of the CDS to pay the buyer of the CDS in the event that the loan [...]
Good morning! ______________________________ OVERVIEW Is June 30 America’s Debt D-Day? | Pimco’s Bill Gross thinks so because it’s when the Fed stops buying Treasuries and we see if anybody else steps forward. The Economy Keeps Improving | The Federal Reserve’s Beige Book reported that economic activity continued expanding in early 2011. Apple Extends Its Lead [...]
The House passed yesterday a stop-gap spending bill to keep the government operating through Mar 18. It would keep most agencies operating at their current funding levels but also enact about $4B in cuts as a down payment of sorts for the GOP package of $60B in spending cuts, which was approved by the House [...]
