(Reuters) – Europe’s plan to lend money to Spain to heal some of its banks may not work because the government and the country’s lenders will in effect be propping each other up, Nobel Prize-winning economist Joseph Stiglitz said. “The system … is the Spanish government bails out Spanish banks, and Spanish banks bail out…
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Asian stocks jump on Spain bank bailout – Full story
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Euro jumps in Asian trade after Spain bank bailout – Full Story
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Liquidity Trader, Professional Edition
Treasury Yield Uptick Marks and Interesting Turn of Events
by Lee Adler • • 0 Comments
Extended excerpt from the Executive Summary. The Treasury had a very light calendar and easy skating last week, but the calendar will be heavier in the week ahead, with notes and bonds being offered in addition to the regular weekly bill auctions. The notes and bonds will settle on Friday. It’s unusual for them to…
European Crisis, Latest Business Headlines
Eurozone set for emergency talks on Spain bank crisis – Full story
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Spanish Economy Still Struggles – Wall Street Journal
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AFPSpanish Economy Still StrugglesWall Street JournalBy JONATHAN HOUSE And JEFFREY T. LEWIS MADRID—Spain's gross domestic product continued to shrink in the second quarter, Finance Minister Luis de Guindos said Monday, yet more bad news for the c…
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GLOBAL MARKETS: European Stocks Seen Lower On Fitch, Moody’s Downgrades – Wall Street Journal
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AFPGLOBAL MARKETS: European Stocks Seen Lower On Fitch, Moody's DowngradesWall Street JournalBy Michele Maatouk LONDON (Dow Jones)–European stocks were set for a weak opening Friday, with investors likely to flock to the safety of bunds and gilts,…
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Moody’s downgrades 16 Spanish banks – Reuters
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BloombergMoody's downgrades 16 Spanish banksReutersNEW YORK May 17 (Reuters) – Moody's Investor Service carried out a sweeping downgrade of 16 Spanish banks on Thursday, including Banco Santander, the euro zone's largest bank, citing a weak…
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TEXT-Moody’s cuts Spanish banks ratings – Reuters
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Telegraph.co.ukTEXT-Moody's cuts Spanish banks ratingsReutersMay 17 – Moody's Investors Service has today downgraded by one to three notches the long-term debt and deposit ratings for 16 Spanish banks and Santander UK PLC, a UK-domiciled subsid…
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Greeks Pull Cash Out of Banks as Confidence Wanes – ABC News
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Moneycontrol.comGreeks Pull Cash Out of Banks as Confidence WanesABC NewsWorried for the future, Greeks are pulling money out of banks at an increasing rate and either transferring it abroad when they can or hiding it at home. "I know a lot of peo…
