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Puerto Rico will miss a payment on debt due August 1, the governor's chief of staff said on Friday, an event that will be considered a default by investors as the commonwealth lurches towards what could be one of the largest US municipal debt restruc
No excuse needed...
I had a very interesting conversation with one my colleAgues yesterday about the markets and the economy. Essentially the discussion centered around the markets remaining near their all-time highs as economic data remained soft.
Back on December 29 of last year, we explained how under the burden of its soaring current account deficit, and its its first primary fiscal deficit since 1998, not to mention numerous corruption scandals and a dysfunctional monetary policy, the Braz
Bubblevision's Scott Wapner nearly split a neck vessel today denouncing the US stock market sell-off. It was completely unwarranted, he thundered, because China don't have nothin' to do with anything.
KINGSTON, NY, 29 July 2015--By any measure, the Chinese equity markets are in turmoil. The Shanghai Index, up 150 percent in a year and down some 30 percent since mid-June, was hit hard again Monday, losing another 8.5 percent -- its second-biggest
Over the course of six painful months of negotitations between Athens and its creditors, one concern lurking in the background was whether the IMF would be on board with a third program for Greece.
Anyone who thought Greece's third bailout program was a done deal or that, at the very least, the market would get a few months of respite before having to grapple with daily Grexit headlines again, got a rude awakening late last week
Puerto Rico Governor Alejandro García Padilla is trying to put a Band-Aid over a gaping fiscal wound.
Total Collapse: Greece Reverts To Barter Economy For First Time Since Nazi Occupation
If yesterday's 3 Year auction was far stronger than expected, then today's 5 Year auction was an absolute whopper...
One week ago, our post "China's Record Dumping Of US Treasuries Leaves Goldman Speechless" which revealed an unexpected plunge in China's foreign exchange reserves...
The Reality Of A Massive Market Crash: "I Have Lost Everything… I Don't Know What To Do… I Trusted the Government Too Much…"
The Reality Of A Massive Market Crash: "I Have Lost Everything… I Don't Know What To Do… I Trusted the Government Too Much…"
Russia's central bank halted purchases of foreign currency to replenish the country's international reserves, a move that may lay the groundwork for a fifth interest-rate cut this year at a meeting on Friday.
You are probably wondering how could any organisation or financial institute make such ridiculous demands? Well, a group of billionaire hedge fund managers requested that Puerto Rico must lay off teachers and close schools so that they can repay thei
In his first major interview since the General Election, George Osborne, the Chancellor, says that the 'central attraction' of EU membership is economic
Supreme court lodges legal case to Greek parliament as "treason" charges escalate against former finance minister
In a recent update I gave six signs of an impending crash. Just today we have a number of those signs starting to hit.
CNN Money's Fear & Greed Index measures the amount of fear in the financial world on a scale from 0 to 100. Last Monday, the index was sitting at a reading of 36. As I write this article, it has fallen to 7.
As expected, Italy has joined the "United States of Europe" parade. And also as expected, some from Germany want no part of it. Let's start with Italy.
Now more than ever, the world is raising serious concerns about the long-term viability of the EMU.
"The 'Silk Road' plan is expected to change the world political and economic landscape through development of countries along the routes, most of which are eager for fresh growth," Xinhua wrote.
Can you feel the panic in the air? CNN Money's Fear & Greed Index measures the amount of fear in the financial world on a scale from 0 to 100. The closer it is to zero, the higher the level of fear.
Nearly 1,800 stocks, over 60% of issues traded on the Shanghai and Shenzhen stock exchanges fell by the daily limit of 10% and were halted according to a Financial Times report.
Argentina's economic activity grew 2.2 percent in May compared with the same month a year earlier, government data showed on Friday, far quicker than economists had expected.
LONDON -- Amid concerns over slower global growth rates, a slump in commodity prices, the ongoing crisis in Greece and worries about the sustainability of China's juiced stock markets, the week ahead is packed full of potentially market-moving new
Late last month in "The Biggest Threat To Chinese Stocks: Shadow Lending Crackdown", we suggested that the pressure on Chinese equities - which at that point had only begun to build - was at least partially attributable to an unwind in the country'
Concerns over China dominated financial markets on Monday, with the biggest fall in Shanghai shares in eight years driving stock markets and prices of major commodities lower across the board.
Chinese shares slid more than 8 percent on Monday as an unprecedented government rescue plan to prop up valuations ran out of steam, throwing Beijing's efforts to stave off a deeper crash into doubt.
