One would think it’s all rumours and half-baked drafts more akin to belong to a neverending script than to the global finances’ reality, but that doesn’t prevent financial institutions from making a serious effort to analyse possible and probable results of their implementation. JP Morgan says “The possibility that any important news/measure comes out of some of the many meetings/summits that are planned for the next week and a half,…
From Banco Santander, a briefing on yesterday’s events to enlighten our Wednesday: “It could not be otherwise, the euro zone (EZ) was trying to build a firewall for well-known reasons. And it is not only to stop the markets’ downturn, it is also associated with an attempt to cut the cost of the bailout for the taxpayer. “Late on Tuesday the Financial Times (FT) revealed, by quoting sources within the…
From Banco Santander, a briefing on yesterday’s events to enlighten our Wednesday: “It could not be otherwise, the euro zone (EZ) was trying to build a firewall for well-known reasons. And it is not only to stop the markets’ downturn, it is also associated with an attempt to cut the cost of the bailout for the taxpayer. “Late on Tuesday the Financial Times (FT) revealed, by quoting sources within the…
From Citigroup analysts : “Ultimately, the decision taken by the Fed was in line or even went beyond what was expected. The reinvestment of MBS debt by more than $20bn per month was good news for the real estate market, which still shows no clear signs of recovery. The IMF itself has already included in its financial stability report the possibility of going ahead with haircuts in the agencies’ debt…
A Banco Santander note on Thursday addressing the misled general belief that it is Finland’s government that poses the tallest barrier in the Greek bailout’s way: “Positive news from Greece. The government announced aggressive additional measures necessary to reduce the deficit and thus gain access to the next €8bn tranche of aid. In any case, the risk of implementation is very high so it is expected that December (coming quarterly…
A Banco Santander note on Thursday addressing the misled general belief that it is Finland’s government that poses the tallest barrier in the Greek bailout’s way: “Positive news from Greece. The government announced aggressive additional measures necessary to reduce the deficit and thus gain access to the next €8bn tranche of aid. In any case, the risk of implementation is very high so it is expected that December (coming quarterly…
JP Morgan on Wednesday made a few hopeful remarks on EU banks’ financing needs by 2012 (not as dire as everyone believes) that our readers may want to savour. A couple of truths for a start, though: “Ideally, banks should use as little as possible repo windows such as the recent three months-dollar one because it would restore confidence, despite delivering in the short term a fix for dollar-funding problems…