Forum
Posts by "stationdealer"
750 Posts Total by "stationdealer":
84
Posts by Anonymous "stationdealer":
China Freaks Out The World By Announcing Restrictions On Export Of Metals Crucial For National Defense
Three more Spanish savings banks have been mashed together. Caja Grenada, Caja Murcia and Caixa Penedes have agreed to merge, Reuters reports. These are shotgun marriages, so it remains to be seen if they are successful or just postpone the inevitable.
EUR/USD has eased back to the 1.2218 area.
We can see a nice sell opportunity if friday's NFP comes positive.
Bloomberg:
The government received no bids it found acceptable for the 150 million reais ($81 million) of 10 percent notes due in 2021 offered yesterday. Theres 6 billion reais of the securities outstanding, less than 20 percent of the 34 billion-real average for the countrys six other fixed-rate notes, according to data compiled by Bloomberg.
Demand has dried up for less-traded emerging market securities such as these long-term bonds from Brazil...
Foreign investors have disappeared from debt auctions, adding to the Treasurys struggles, said Paribass Donadio and Tony Volpon, Latin America strategist at Nomura Holdings Inc. in New York. International money managers have backed off amid concern Europes debt crisis will spread, said Volpon.
Deputy Treasury Secretary Paulo Valle said volatility in global markets has created a yield premium that Brazil wont sanction. The government doesnt release average yields bid at failed auctions.
...but there's more to it, as the comment above shows. It's another example of bond issuers not believing the ugly yields on offer in the market. Sort of like what is happening in the U.S. as well.
Its not 45bln usd and 45bln gold
and thats yesterdays news no major impact so far!!!
Calls For CRAs To Release Ratings Information, Methodologies
BRUSSELS (MNI) A new Europe-wide supervisor will watch over
credit ratings agencies operating in the region and will recommend
penalties for offenders, the European Commission said on Wednesday as it
announced plans to increase the transparency and the competition in the
ratings market.
The Commission has long argued that the biggest ratings agencies
Standard & Poors, Moodys and Fitch have too much power, with their
decisions sometimes becoming self-fulfilling prophecies. After Greeces
debt rating was lowered earlier this year it found its cost of
financing rose so much in the market that it was almost impossible for
it to finance its debt and was forced to ask for aid.
Under the plans set out on Wednesday, credit ratings agencies would
be required to register before they are allowed to operate in the
European Union, the European Commission said. After registration they
would be required to disclose all the information they use to compile
their ratings decisions, including their methodologies, the Commission
said.
A new body, the European Securities and Markets Authority (ESMA),
would be in charge of the registration and supervision of credit ratings
agencies. If one of the ratings agencies were found to be in breach of
transparency rules or to have a conflict of interest, ESMA could request
that the European Commission impose sanctions on that agency or, in
extreme cases, withdraw the agencys license to operate.
In practise, a Commission source said, withdrawing a license would
be a last resort option. We call this a kind of atomic bomb, the
source said.
The Commissions proposal aims to ensure efficient and centralised
supervision at the European level and to increase transparency so that
all agencies have access to the same information, the EUs executive arm
said in a statement.
The proposal has won the endorsement of a major player in the
rating industry.
The new EU regulations will play an important part alongside the
measures that S&P has taken independently in building market
confidence in the integrity and transparency of ratings, a spokesperson
for Standard & Poors said.
Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
[TOPICS: MT$$$$,M$$FX$,M$$EC$,M$X$$$,M$$CR$,MGX$$$]