Credit Default Swaps Banks

BankS&P Lgfr. KreditratingS&P AusblickMOODY's Lgfr. KreditratingCDS 5 Jahre in Basispunkten
DEUTSCHLAND AAA     18,43
HSBC AA-   Aa3 67,02
DZ BANK AA- Stabil A1 86,48
BNP PARIBAS A+ Negativ A1 72,89
RABOBANK A+ Negativ Aa2 63,03
SEB A+ Negativ A1 57,67
BARCLAYS BANK A   A2 68,41
JPMORGAN CHASE A Negativ A3 66,39
ING BANK A Negativ A2 72,48
SOCIETE GENERALE A Negativ A2 83,38
DEUTSCHE BANK A   A3 78,99
NATIXIS A Negativ A2 66,58
UBS A Negativ A2 63,11
MACQUARIE BANK A Stabil A2 87,46
ROYAL BANK OF SCOTLAND HOLDING A-   Baa1 76,33
BANK OF AMERICA A- Negativ Baa2 68,58
ERSTE BANK A-   Baa2 149,14
GOLDMAN SACHS A- Negativ Baa1 88,79
RAIFFEISEN ZENTRALBANK A-   Baa2 157,61
CITIGROUP A- Negativ Baa2 78,52
COMMERZBANK A-   Baa1 87,89
CREDIT SUISSE BBB+ Stabil A2 78,22
BANCO SANTANDER SA BBB+ Stabil Baa1 96,50
NOMURA BBB+ Stabil Baa1 78,84
ROYAL BANK OF SCOTLAND BBB- Stabil Baa2 76,21
UNICREDIT BBB- Stabil Baa2 123,18
NORDDEUTSCHE LANDESBANK NR   A3 120,00
WESTLB NR   Aa1 70,00
LANDESBANK BADEN-WUERTTEMBERG NR   A2 60,00
BAYERISCHE LANDESBANK NR   A3 80,00
HSH NORDBANK NR   Baa3 210,00

 

Euro Bond Yields

 
  2 Jahre 5 Jahre 10 Jahre
Griechenland    24.95 +4.5%    17.39 +4.9%    11.89 +4.4%
Portugal    0.25 -33.5%    1.14 +0.3%    2.51 -3.1%
Irland    -0.05 -2.1%    0.47 -4.5%    1.27 -4.2%
Spanien    0.1 +64.5%    0.75 -12.4%    1.85 +3.7%
Italien    0.14 -54.3%    0.81 +2.9%    1.91 -2.6%
Frankreich    -0.16 -7.5%    0.19 -12.7%    0.87 -4%
Belgien    -0.19 -9.5%    0.19 -10.8%    0.89 -2%
Österreich    -0.14 -6.2%    0.16 -14.1%    0.71 -2.9%
Niederlande    -0.19 -3.9%    0.16 -9.7%    0.77 -2.8%
Finnland    -0.2 -4.3%    0.18 -12.5%    0.72 -4.4%
Deutschland    -0.22 -4.3%    0.05 -35.7%    0.58 -5.3%

Doug Noland - Paying for the Past: Insight from Lindsey, Fisher and Greenspan

``Lindsey: At some point what is going to happen - and this gets to my eight or nine cataclysmic number [on a scale of 1 to 10] - is that we're going to get a series of bad numbers - a little higher inflation, higher average hourly earnings or whatever - and the market is suddenly going to say, "Oh my God, they are so far behind the curve that they will never catch up." And the market is going to force an adjustment on the Fed that will be wrenching''

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China Sets Up $100B Gold Fund For Central Banks

``China is planning to launch "a 100 billion yuan fund led by the SGE, ...which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal... About 60 countries have invested in the fund, which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal, according to the SGE.''

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Borders are closing and banks are in retreat. Is globalisation dead?

Professor Jagdish Bhagwati, an Indian-born economist now at Columbia University in the US and an avowed free trader, says part of globalisation's image problem comes from the assumption that it has to mean unleashing capital flows, which he calls "the weak underbelly of globalisation".

"The freeing-up of capital flows is what led to the East Asian financial crisis [of the late 1990s], and we need to do something about that," he says. He argues that free capital flows are not a necessary part of globalisation. "Did you expect me also to be for free love?" he jokes. "Maybe I am, but not because I'm a free trader!"

Recent research by the International Monetary Fund, highlighted by its managing director Christine Lagarde, suggested that developing countries must be cautious about so-called "financial deepening" -- expanding their banking sectors and opening up their capital markets -- because without tough regulation it can be too risky.''

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Tsipras faces down radicals within SYRIZA over terms of deal

``... as negotiations continue to drag, sources suggest that the likeliest scenario is a two-stage deal despite Tsipras's recent insistence on the need for a "comprehensive agreement." The two-stage deal would comprise an initial agreement that would unlock a portion of rescue loans in exchange for some reforms, most likely tax increases, to keep the country solvent; the second part of the deal would tackle the thorny issues of pension and labor sector reform.''

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Greece Hasn't Got The Money To Make June IMF Repayment, Interior Minister Says

``Greece cannot make debt repayments to the International Monetary Fund (IMF) next month unless it achieves a deal with creditors, its interior minister said on Sunday, the most explicit remarks yet from Athens about the likelihood of default if talks fail... "The four installments for the IMF in June are 1.6 billion euros ($1.8 billion). This money will not be given and is not there to be given," Interior Minister Nikos Voutsis told Greek Mega TV's weekend show.''

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America's disappointing economic recovery

``According to HSBC, average US growth in the seven years from the previous peak was 3.5 per cent after 1981, 3.1 per cent after 1990, 2.1 per cent after 2000 and 1.1 per cent since 2007. The direction is unmistakable. Some economists are even talking of a "great reset" that will require the US to adjust downwards to Japan-style growth. That is probably too gloomy... Yet the growth outlook remains checked by a very un-American sense of pessimism. If, as expected, US growth rebounds in the next two quarters, Ms Yellen may have little choice but to raise rates in September or shortly afterwards. America's troublingly low labour force participation rate gives her little leeway to do otherwise. ''

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CME developing European gold futures contract: sources

``The Chicago Mercantile Exchange (CME) (CME.O) is developing a European gold futures contract to serve customers in London, three sources familiar with matter said, which could present a direct challenge to London's traditional cash market... One senior precious metals trader at a bank said a move onto a cleared platform was inevitable given the greater regulatory scrutiny in the gold market.''

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Barclays facing explosive allegations it engineered computer systems to rig financial markets

``Last night experts said if banks' computer systems were set up to rig Forex rates this would implicate many more people in these organisations... A probe by the European Commission into market manipulation, as well as the wave of lawsuits expected to follow its ruling, is expected to increase the amounts banks are forced to pay out for misdemeanours.''

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