Market Comment: February 23

By / February 23, 2012

Good morning, Markets are quiet this morning with no major news, economic or otherwise, to report.  Likely the most important, the European Commission slashed 2012 EU GDP to -0.3% from 0.5% as a recession is now expected to hit Europe sooner than later.  Major European banks are beginning to take massive write-downs on Greek debt… Read more

Market Comment: February 22

By / February 22, 2012

Good morning, Markets are mixed following the opening bell, primarily on disappointing economic data in Europe while the nuclear threat in Iran heats up.  European PMI unexpectedly fell below 50.0, indicating a contracting economy as firms slash jobs to manage costs, led lower by Germany. Greece has announced salary cutbacks for contract workers in the… Read more

Market Comment: February 21

By / February 21, 2012

Good morning, Markets are pointing higher following the announcement of an approved bailout deal for Greece, saving the country from imminent default in March.  Euro-group finance ministers have approved a €130b bailout package while private bond-holders have agreed to a 53% haircut in a bond swap. Although an almost immediate default has been avoided, the… Read more

Market Comment: February 17

By / February 17, 2012

Good morning, Markets are trading higher this morning after rising 1% yesterday as European leaders announced their optimism that a Greek bailout deal will be reached on Monday.  Equity markets across the globe are being led by Financials. With that said, Credit Suisse is not falling for the bait and is choosing to ignore the… Read more

Market Comment: February 16

By / February 16, 2012

Good morning, Concerns over Greece are weighing down markets today; equities, commodities and commodity currencies are down across the board as the USD trades higher on risk aversion. Moody’s has warned that they are preparing to downgrade 17 major banks across the globe, citing “more fragile funding conditions, wider credit spreads, increased regulatory burdens and… Read more

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