28 novembre 2007
BoJ warns of ‘disease’ in world markets
source: Financial Times
The yen hit a two-and-a-half year high against the dollar on Tuesday as Toshihiko Fukui, governor of the Bank of Japan, expressed strong concern about the turbulence in world markets, comparing it with “a serious disease”.The yen briefly rose to Y107.17 against the dollar, although it fell back to Y108 in Tokyo trading
European Money-Supply Growth Accelerated in October
source: Bloomberg
M3 money supply, which the ECB uses as a gauge of future inflation, grew 12.3 percent from a year earlier, after gaining 11.3 percent in September, the Frankfurt-based bank said today. That's the highest rate since July 1979. Economists expected growth of 11.5 percent, according to the median of 35 forecasts in a Bloomberg News survey.
Liquidity crunch deepens in interbank money markets
source: Reuters
Nervousness and general disorder in the markets is only likely to get more severe into year end, a time when liquidity is sparse at the best of times and, as recent moves in money markets have clearly shown, when demand for funding over the turn is intense," Royal Bank of Scotland said in a note.
Deadbeat Developers Signaled by Property Derivatives
source: Bloomberg
``Commercial real estate is a full-blown bubble that feels
very much at a bursting point,'' said Christian Stracke, an
analyst in London at CreditSights Inc., a fixed-income research
firm. ``There's a fairly toxic mix of factors at work.''
`The commercial real estate market is imploding,'' said
James Ortega, who manages $150 million at Saenz Hofmann Fund
Advisory in Sao Paulo. Ortega has set trades to profit from a
decline in property companies' shares. ``We're about to
experience a very significant correction.''
Howard
Esaki, head of global commercial mortgage securities research at
Morgan Stanley in New York, said U.S. sales may fall 60 percent
to 70 percent next year.
Bank CDO Losses May Reach $77 Billion, JPMorgan Says
source: Bloomberg
CDO sellers including Merrill, Citigroup, UBS AG and Deutsche Bank AG are taking losses on the ``super-senior,'' or safest, pieces of the CDOs, according to JPMorgan. Writedowns on that debt should be between 20 and 80 percent, the analysts wrote.
Housing slump ups chance of recession: Goldman Sachs
source: Reuters
The effect of a U.S. housing market that is "mired in a full-blown vicious cycle" suggests the risk of recession has risen to a range of 40 percent to 45 percent, Goldman said.
Home prices will likely decline by 15 percent from their peak. But if the United States enters a recession -- which Goldman expects the economy to narrowly escape -- home prices could fall as much as 30 percent nationwide, it said.
La crise modifie les profils de postes recherchés dans la finance en France
source: Le Monde
Aux Etats-Unis, la crise a mis 90 000 personnes sur le carreau et 20 000 au Royaume-Uni, souligne Eric Le Touzé, de Michael Page. En France, nous sommes encore à l'abri, mais la crise a des répercussions." Certains salariés licenciés de la City, le quartier d'affaires à Londres, sont "disponibles" pour un poste à Paris et seraient prêts à accepter un salaire de 20 % à 30 % inférieur aux standards anglais.
Le baromètre des prix à zéro en 2008 !
source: Capital
Et si Bernard de Crémiers ne livrait pas là l’analyse de marché la plus
pertinente faite depuis belle lurette ? A l’orée de 2008, les
mégaphones de la peur ont fait leur travail. Le doute s’installe sur un
marché qui semblait il y a peu à l’abri de toute difficulté. Et
maintenant, à quoi s’attendre ?
Il est évident que le marché est gouverné principalement par lapsychologie....
La banque Bear Stearns va supprimer 650 emplois
source: La Tribune
L'inquiétude grandit en Allemagne sur les suites de la crise d'IKB pour KfW
source: Agefi
Les conséquences des difficultés de la banque IKB pour son grand actionnaire KfW créaient mercredi de plus en plus d'inquiétude en Allemagne, un dossier qui est également suivi de près par la Commission européenne.