Union members on company boards? Spain's CEOE says why not
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Markets love inflation
By Luis Arroyo, in Madrid | Look at the USA. In the graph above, left scale, the yields (spreads of Treasuries) of BB corporate bonds (red line), and B (green line). Right scale, blue line, inflationary expectations (type of bond at 10 years minus the same inflation protected). A functional relationship can be detected between the variations in inflation expectations and private bond yields. The higher the expected inflation, the…
In the US, confidence falls but consumption rises: what’s happening?
In the US, confidence falls but consumption rises: what's happening?
Occupy LSE Sunday Quotes’ Fest
We've selected some comments from public remarks published on social websites by demonstrators and observers of this weekend's globalised protests against the financial state of things. @Izaakson: Occupying the London Stock Exchange twitpic.com/70npad #occupy Sophie Payne What books on economics should we read? Mises and Hayek? Are we allowed to educate ourselves by reading Keynes or Galbraith? Or even…Marx? DMReporter PROTEST: Occupy London Stock Exchange protesters vow to give up worldly possessions and close their bank…
Bond markets are (sort of) open to peripheral issuers
Iberdrola and Telecom Italia were on Thursday able to issue debt in the primary market, in bonds for a total amount of €600mn at four years and €750mn at five years, respectively. According to analysts at Banco Santander “issuers took advantage of a perhaps passing opportunity to place debt, long before the critical dates of the European Counci
A very Chinese affair
How To Get Your Ex girlfriend Back From Barclays Capital | China's sovereign-wealth fund stepped in Monday to buy shares of the country's battered banks, which have been caught in a selloff that analysts say reflects a broader loss of trust in the integrity of corporate earnings and government statistics. The skepticism of investors comes as China has become increasingly exposed to global markets, largely through stock listings of its…
Agencies trust Botín more than Spain
From Spain's best-seller newspaper El País | The rating agencies consider Banco Santander's solvency stronger than that of the Spanish state. Until now, the ratings given by credit agencies were slightly higher for the debt issued by the Kingdom of Spain than for the bonds issued by the bank that Emilio Botín presides. But the two step downgrade announced on Monday by Fitch, the third largest agency, tilts the balance…
Merkel & Sarkozy Sunday Quotes’ Fest
Doom: “With the turmoil threatening to spiral into financial meltdown as the value of banks' sovereign bond holdings slide, Merkel and Sarkozy are likely to discuss in Berlin both how to manage Greece, prevent contagion and strengthen lenders.” Gloom: “German Chancellor Angela Merkel will meet French President Nicolas Sarkozy amid signs that some European banks are feeling the strain of the lingering debt crisis which has pushed Greece to the brink…
Merkel & Sarkozy Sunday Quotes' Fest
Doom: “With the turmoil threatening to spiral into financial meltdown as the value of banks' sovereign bond holdings slide, Merkel and Sarkozy are likely to discuss in Berlin both how to manage Greece, prevent contagion and strengthen lenders.” Gloom: “German Chancellor Angela Merkel will meet French President Nicolas Sarkozy amid signs that some European banks are feeling the strain of the lingering debt crisis which has pushed Greece to the brink…