Aug 9th, 2011
Does anybody still think we actually need less transactional regulation in the markets? Unfortunately, they probably do. However, Zachary Karabell notes:
"None of the reforms passed in the wake of the financial crisis create any breakers against synchronous global financial panic. Yes, there is less leverage and more capital in financial institutions, which is a vital difference between now and then and augurs against a repeat of what happened two years ago, but there are no circuit breakers that prevent the rolling flash-crash of the past week."
In particular, we have to roll back the "reforms" from 2006 that are allowing massive, computerized short-sells.
Showing posts with label asian markets. Show all posts
Showing posts with label asian markets. Show all posts
Tuesday, August 9, 2011
Monday, August 8, 2011
Another Black Monday? ctd...
Aug 8th, 2011
Not necessarily... but it's going to be a volatile day. AP is reporting that the Asian drops were actually expected to be worse and shines a light on some countervailing forces that might lessen the blows. With just over 4 hours to go before the opening bell in NY, its a nail-biter.
Via AP:
"Most European markets rose and Spain and Italy's borrowing costs dipped to more manageable levels on Monday after the European Central Bank said it would buy the two countries' bonds in order to help them avoid devastating defaults.
Asian markets traded lower but their retreat was not as bad as many had feared over the weekend after a downgrade of U.S. debt. Japan's Nikkei 225 stock average closed 2.2 percent lower at 9,097.56."
Not necessarily... but it's going to be a volatile day. AP is reporting that the Asian drops were actually expected to be worse and shines a light on some countervailing forces that might lessen the blows. With just over 4 hours to go before the opening bell in NY, its a nail-biter.
Via AP:
"Most European markets rose and Spain and Italy's borrowing costs dipped to more manageable levels on Monday after the European Central Bank said it would buy the two countries' bonds in order to help them avoid devastating defaults.
Asian markets traded lower but their retreat was not as bad as many had feared over the weekend after a downgrade of U.S. debt. Japan's Nikkei 225 stock average closed 2.2 percent lower at 9,097.56."
Another Black Monday?
August 8th, 2011
Following Friday's dramatic S&P downgrade of the United States' credit rating,
the virtues of which I'll get into later today, it appears that Asian markets are reacting badly. Again, I think everyone who wants to participate in the discussion ought to read the entire actual S&P statement before continuing to trade in competing analyses.
From ABC:
"Tokyo's Nikkei stock market opened down 1.4 percent and then made slight gains, but Japan's finance minister reportedly said the country has not lost faith in the dollar or U.S. Treasury bonds even after the U.S. credit rating was downgraded for the first time in history.
The news in other Asian markets was not so promising. Hong Kong's Hang Seng fell 4 percent to 20,100.20 and South Korea's Kospi slipped 6.7 percent to 1,814.100.
Australia's S&P/ASX-200 index lost almost 2 percent in early trading and indexes in New Zealand fell more than 3 percent.
The mixed reports likely won't do much to quell growing concerns that Standard & Poor's downgrade of the U.S. credit rating from AAA to AA+could rock global financial markets."
the virtues of which I'll get into later today, it appears that Asian markets are reacting badly. Again, I think everyone who wants to participate in the discussion ought to read the entire actual S&P statement before continuing to trade in competing analyses.
From ABC:
"Tokyo's Nikkei stock market opened down 1.4 percent and then made slight gains, but Japan's finance minister reportedly said the country has not lost faith in the dollar or U.S. Treasury bonds even after the U.S. credit rating was downgraded for the first time in history.
The news in other Asian markets was not so promising. Hong Kong's Hang Seng fell 4 percent to 20,100.20 and South Korea's Kospi slipped 6.7 percent to 1,814.100.
Australia's S&P/ASX-200 index lost almost 2 percent in early trading and indexes in New Zealand fell more than 3 percent.
The mixed reports likely won't do much to quell growing concerns that Standard & Poor's downgrade of the U.S. credit rating from AAA to AA+could rock global financial markets."
Video via RT:
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