NEW YORK | Federal Reserve’s chairman Ben Bernanke attended his semi-annual monetary policy report to Congress on Tuesday and Wednesday, insisting that the Fed remains in close contact with European authorities but the alarms of spillover are still on. “I don’t think they [Europe leaders] are close to having a long-term solution that will solve the problem and until they find those long-term solutions, we’re going to continue to see…
By CaixaBank research team, in Barcelona | The worsening climate in peripheral Europe has affected the corporate bond markets. Whereas, during the previous months, this market stood out for its remarkable ability to resist the adversities of the euro area crisis (from the point of view of issuances and the extent of capital flows), in May investor mood and the issuance of corporate bonds had been fully infected. In addition,…
By Tania Suárez, in Madrid | Intermoney chief economist José Carlos Díez considers that a monetary union with stability and credibility will not be possible unless there is a surrender of sovereignty. He adds that it is not only Germany the one that must be flexible in its position, but all member countries alike. Can be the Thursday-to-Friday summit considered as “the definitive” or will it result into a new…
NEW YORK | In the debate over austerity and government spending some throw the question of 'oversized administrations'. Are there too many government workers in Europe? And in the U.S.? Should the numbers be reduced? The Spanish Secretary of State for public administration Antonio Beteta has apologized to the unions for suggesting last week that workers should “forget about having their morning coffee break and reading the newspaper.” It has…
ex gf goexback.com How to win back your ex NEW YORK | Hardly ever a small European country's parliamentary election has arisen that much attention in the U.S. Greece's vote on Sunday made the headlines in most American media, which have been following the european entangled crisis for the last months. The White House appeared to be sighing in relief. The worst case scenario for Washington (a quick and messy…
ex gf http://goexback.com how to get your ex back Global equities are at their most undervalued since August 2011, a BofA Merrill Lynch survey of fund managers showed for June. A net 48 percent of the global panel believes global equities are undervalued, matching the lowest level since the survey began. The reading is up from a net 35 percent in May and a net 22 percent in April. At the same time, a…
By Tania Suárez, in Madrid | Most financial commentators have focused its attention on the comments that the Spanish president Mariano Rajoy made last Saturday. He emphasized the importance of creating a European body whose main objective would be to control of the finances of the different States, i.e. a fiscal integration. According to macroeconomic experts at Morgan Stanley, such measures of fiscal integration should be the aim of Europe…
The International Air Transport Association published this week April data, which confirmed that there has been a certain slowdown on the overall still growth picture. From January to April, world air traffic was up by an accumulated 7.1 percent versus 7.4 percent in January to March. Emerging markets like Latin America, Middle East and Africa registered double-digit growth, while the down trend was worse in the US than in Europe.
NEW YORK | One of the current most visited exhibits at the Museum of Modern Art in New York is not dedicated to pop-art nor surrealistic sculpture but to mortgages. Foreclosed calls the home ownership American dream into question and shows how the suburban development has been not only environmentally aggressive in some states but financially unsound. “Many of the low-income people who bought at the height of the bubble…
NEW YORK | “Cutting alone really doesn’t do it, and that’s why I’m linking the serious budget reductions — real increase to austerity — with a plea to the voters: please increase taxes temporarily on the most affluent and everyone else with a quarter of a cent sales tax,” California governor Jerry Brown said in releasing his $91 billion general fund budget plan this week. These are not easy days for…