I, Ireland
What happens when a triple-A rated sovereign government's credit rating is cut? Quite a lot of unpleasant things really. Sovereign rating transitions - at the top end of the scale - are always extremely messy affairs. Losing a triple-A rating matters much more than losing a double-A rating for any institution.... [more...]
Date: 2009-01-14 10:00:37
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Fed to Lend to Fannie & Freddie
All of our weekend guests finally clear out, we clean up the barbecue remnants. I get a few seconds to sit down to the computer to check email, and THIS is what greets me: &gt ... be at the primary credit rate and collateralized by U.S. government and federal agency securities [more...]
Date: 2008-07-14 02:16:25
Italy Slips Slowly But Steadily Into Its Worst Recession In Over 30 Years
The Italian economy continued to contract sharply in the third quarter of 2008 as exports fell sharply - declining at the fastest rate in three ... and the danger of a credit rating downgrade. The Italian government went to market this week [more...]
Date: 2009-01-16 21:24:37
Bank of Canada lowers bank rate by three quarters of a percent!
The bank of Canada just announced a huge reduction in the prime interest rate ... governments are beginning to encourage credit flows, although it will take some time before conditions ... profile for core inflation than had been projected at the time of the last Monetary Policy Report [more...]
Date: 2008-12-09 15:14:28
Ainda o “downgrade” da S&P (3)
Bloomberg The risk of losses on European government bonds is mounting as the economic slowdown threatens credit ratings in Ireland, Portugal, Spain and Greece. Credit-default swaps tied to the debt of Ireland rose more than seven-fold ... to be threatened with a debt downgrade when Standard & Poor’s said the country’s long-term rating [more...]
Date: 2009-01-14 11:03:02
Greece: Stable Outlook for the Economy
(GREEK NEWS AGENDA) Recently appointed Economy and Finance Minister Yiannis Papathanassiou on Wednesday defended the government’s economic policy, ... of social cohesion in the country. Commenting on a decision by Standard & Poor’s rating agency to downgrade Greece’s credit rating to A-/A-2 with a stable outlook from A-/A-1, the minister said: “ [more...]
Date: 2009-01-16 17:40:11
Italy Slips Slowly But Steadily Into Its Worst Recession In Over 30 Years
By Edward Hugh: Barcelona The Italian economy continued to contract sharply in the third quarter of 2008 as exports fell sharply - declining at the ... of the Italian bond spread and the danger of a credit rating downgrade. The Italian government went [more...]
Date: 2009-01-16 21:58:56
Today in Russian Business - Jan 14th, 2009
The financial crisis is having a dire effect on migrants who depend on money from their employers to support their families back home, ... is trying to encourage residents to buy apartments, saying that reports of anticipated price drops ... had its credit rating lowered to 'junk' by Standard & Poor's. The government wants to counter [more...]
Date: 2009-01-14 11:33:41
Long Beach Mortgage Report: Concern over future loan pricing due to Democratic moves
Long Beach, CA. We are very concerned about this development for future mortgage pricing ... this is at a time when we expect a government agency to support the credit crisis, not curtail their lending. Why has this happened? Apparently the agency faces a credit rating downgrade and must work through a half [more...]
Date: 2009-01-08 18:35:49
Japanese stocks gain on optimistic view of US economy
Japanese stocks gain on optimistic view of US economy Japan stocks continued to gain Tuesday morning as investors become optimistic about a massive U ... , thieves and foreign agents, according to a new report from a panel of leading government ... ' from banks, governments Ad forecaster expects mild recovery in Q3 of 2009 Credit card interest rates [more...]
Date: 2008-12-09 04:42:16
Bank of Canada - Another 0.75% Cut (Prime Now at 3.25%)
Prime rate has been cut by 0.75% by Bank of Canada.Current Prime Rate: 3 ... strained. Measures taken by major governments are beginning to encourage credit flows, although ... of the last Monetary Policy Report in October. Several factors are helping to counterbalance [more...]
Date: 2008-12-09 18:22:00
Banks? Credit Quality Expected to Worsen
Kerry E. Grace reports: Although government support has buoyed U.S ... s bankruptcy caused the credit markets to seize up in September. The ratings agency also expects ... . banks, the industry will likely experience overall credit quality deterioration at least through [more...]
Date: 2009-01-06 09:09:00
N.J. man learns modifying mortgage to cut payments may impair credit rating
by Moe Bedard on September 29, 2009 · 0 commentsin American Nightmare To confuse consumers even more, not all lenders follow the guidelines.That may change on November 1, when lenders can use a new code to report them as a “loan modification under government program.” The code will clarify which borrowers have taken modifications, but because the modification process itself is not streamlined, it won’t be the only worm squiggling out of the can.The bigger impact on credit scores may depend on how [more...]
Date: 2009-09-29 13:48:05
Totally Disconnected: US Government Risk, Ratings, Bonds and Equities
As part of his seemingly ongoing program to remove systemic risks within the financial and corporate matrix, ... ; Poor’s reiterated its “AAA” rating for the United States, credit default swaps spreads for 10-year [more...]
Date: 2009-01-14 06:52:43
Ainda o “downgrade” da S&P (5)
Bloomberg Spain may struggle to sell 1.8 billion euros ($2.4 billion) ... . Standard & Poor’s said Jan. 12 it may lower Spain’s AAA credit rating. “There is a clear risk ... of bonds as the prospect of a credit downgrade and a flood of new issues by European governments [more...]
Date: 2009-01-15 09:54:11
Friday morning links
TOP STORIES U.S. Payrolls Fell 84,000; Jobless Rate Jumps to 6 ... differ on inflation outlook - MarketWatch Credit Crunch: The Sequel - US News and World Report Fed's ... bank may need government bailout - MarketWatch The Abuse of Credit, And Why You Care - The Market [more...]
Date: 2008-09-05 13:23:00
William O’Donnell and others at financial giant UBS issued a report earlier in the week noting some reluctance by investors to buy government bonds ... the credit crunch, investors have demanded a greater premium on securities backed by mortgages, which means consumer rates are less tied to Treasuries than before. I asked O’Donnell if mortgage rates [more...]
Date: 2009-01-08 17:39:53
Credit Fears Ease
Credit fears ease… Chuck’s thoughts from the road… India cuts rates… China growth slows, but is still 9%… And Now… Today’s Pfennig! Good day…And welcome to what should be another volatile week in the markets. Credit worries eased ... that the credit markets may be calming down a bit after the government moves to shore up the big international [more...]
Date: 2008-10-20 14:34:28
Riding the global economic crisis in Singapore
Author: Shandre Thangavelu, National University of Singapore and ANU Despite an average growth rate of nearly 8 per cent from 2004 to 2007, ... companies to get access to credit facilities, the Singapore government announced a S$2.3 billion loan facility for local companies (including SMEs) through its business financing scheme on 21 November 2008 [more...]
Date: 2009-01-05 04:15:28
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two ... lousy report on home prices, as the S&P/Case-Shiller home price indexes fell to their March 2004 [more...]
Date: 2008-12-30 14:03:40
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two ... lousy report on home prices, as the S&P/Case-Shiller home price indexes fell to their March 2004 [more...]
Date: 2008-12-30 17:03:00
Can the US Survive Obama's Economic Stimulus Plan?
Unemployment rate in the US has risen to 7.2%. Apparently, Obama's stimulus plan will cost between $800 billion to $1.3 trillion ... is already running a record deficit, to increase spending now will further drain available credit ... to the government.The proper course of action is to limit government spending so as to make more credit available [more...]
Date: 2009-01-10 07:17:00
PNG budget goes for growth despite financial crisis
The Papua New Guinea Government handed down a PGK7.6 billion (approx.US$3 billion) budget for 2009 yesterday ... and telecommunications. PNG’s Standard and Poor’s credit rating was upgraded in 2007 to B+ for long-term foreign ... impact on service delivery, with anecdotal reports suggesting many districts were unable even to obtain [more...]
Date: 2008-11-19 05:44:00
What Didn't Cause the Crisis?
Tyler Cowen, contradicting Anna Schwartz, says it was private sector imperfections, not government policy that caused the imperfection ... Funds rate to blame?, by Tyler Cowen: ...I don't side with Austrian Business Cycle Theory in citing ... of that wealth through credit and the desire for additional risk. Note that if an increase in real [more...]
Date: 2008-10-21 22:06:00
What is a US Savings Bond?
A US savings bond is a government debt instrument offered to the public for purchase which provides a fixed rate of interest over a fixed period ... and credit of the United States. Additionally, electronic registration with the Treasury gives extra [more...]
Date: 2009-01-09 17:32:53
Fed’s Bubble Trouble Will Cause Rates to Spike and Spawn Hyperinflation
A few weeks ago, when the U.S. Federal Reserve announced a strategy designed to bring down long-term interest and home mortgage rates through ... of U.S. Treasury bonds rise while their underlying credit quality is deteriorating faster than Bernie Madoff’ ... . Just as the U.S. government issues mountains of new debt to finance the multi-trillion annual de [more...]
Date: 2009-01-14 14:30:03
What To Do To Secure Your Financial Future
If you want to secure your financial future, you must take action ... that there is a government bailout or Wall Street rally right around the corner that will fix everything ... items though. She says that if your credit score is above 720 and your interest rate just shot [more...]
Date: 2009-01-16 19:31:34
Failure to Govern
From Mina Kimes at Fortune: Experts are divided over whether the municipal default rate, which is historically just 0 ... by much, but he argues that the credit stress facing issuers is an overriding concern to investors ... , according to data from Thomson Reuters… The market for municipal credit protection has “quite literally [more...]
Date: 2009-01-09 17:00:30
Rates, Rumors and Reaction
This morning began with rumors of a possible Government take over of Fannie and Freddie which caused the GSEs stocks to further tumble ... occupied with a minimum credit score of 720, “full doc” purchase with a sales price of $500,000 and a loan [more...]
Date: 2008-07-11 21:13:07
Mortgage Rates Fall to Record Lows
Rates are at their lowest level in decades, but mortgages remain elusive for most homeowners and hopeful buyers January 15, 2009, ... that the government would buy up to $500 billion of mortgage-backed securities backed by Fannie Mae, Freddie Mac ... as homeowners with good credit and equity in their homes—an unusual combination these days—rush to lock [more...]
Date: 2009-01-16 13:41:00
Ministers could set loan rates, banks warned
Direct Whitehall control over the lending rates of Britain's high-street banks is among the contingency plans being drawn up by Alistair Darling to ensure that the dearth of lending caused by the credit crunch does not force thousands of small ... to the small business sector had risen in recent months. A Treasury source said the government's [more...]
Date: 2008-11-27 00:10:52
State, county score top credit ratings
The markets are down, the financial sector is a shambles, and yet even facing an economic downturn and declining revenue projections, Washington state government bonds continue to enjoy one of the highest credit ratings ... by these credit rating agencies, our high ratings are largely due to the sound financial management [more...]
Date: 2008-10-15 22:46:16
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