RSS FeedStocks Slump, Euro Drops, Bond Risk Soars on Jobs, Debt Concern ...
The MSCI Asia Pacific Index lost 2.5 percent to 114.73 at 12:33 p.m. in Tokyo, the lowest level in two months, and the euro fell as much as 0.4 percent against the dollar to the lowest level since May. The cost of protecting Australian corporate debt jumped the most in almost six months and emerging market equity funds had their biggest outflow in 24 weeks. Investors are fleeing risk as initial applications for unemployment insurance unexpectedly increased to 480,000 last week and companies from MasterCard Inc. to Monster Worldwide Inc. reported earnings that trailed analyst estimates. Portugal and Greece led a surge in the cost of insuring against losses on sovereign debt to a record on concern that emerging market countries will struggle to curb budget deficits. More than 30 stocks dropped for each one that advanced on the MSCI Asia Pacific Index. Japan's Nikkei 225 Stock Average tumbled 2.6 percent to 10,085.10 and Australia's S&P/ASX 200 Index slumped 2.7 percent even as the nation's central bank raised its economic forecast. Futures on the Standard & Poor's 500 Index added 0.2 percent. The U.S. benchmark sank 3.1 percent yesterday in New York, the most since April. The gains follow jumps by benchmark gauges of corporate credit risk in North America and Europe on mounting concern that governments will fail to close budget gaps. Debt strains in Greece, Portugal and Spain are spreading into markets for corporate debt as investors weigh the potential impact on all asset values if a government funding crisis erupts. Emerging market equity funds lost $1.6 billion in weekly withdrawals, the biggest outflows in 24 weeks, as earnings and Greece's debt woes raised concerns that the global recovery may falter, according to EPFR Global. The Korean won dropped 1.5 percent to 1,168.45 per dollar, near a six-week low, and the Malaysian ringgit weakened 0.6 percent to 3.4385. "This is basically payback time for the rescue of the global economy last year, which was through...
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Treasurys Rally On Euro-zone Fiscal Woes; Ylds Hit Lows For 2010
CBS News"It is a flight-to-quality trade from Europe," said Thomas Roth, executive director in the US government-bond trading group at Mitsubishi UFJ Securities Stocks tumble on worries about jobs, European debtall 1,329 news articles »
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Mayors say no to STAR bond plan The ongoing effort to create sales tax revenue bonds in Illinois will be further reviewed after it was met by opposition from and more » |
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US Small Caps Fall As European Debt, Jobs Raise Fears American depositary shares of UK and Irish banks fell after the Bank of England's Monetary Policy Committee voted against extending its bond-buying program and more » |
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Municipal bond funds look tempting if you can take risk And when taxpayers are worried about keeping their jobs, they don't spend as much, and that hurts sales tax revenues. At the same time, state expenses have |
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Treasuries Gain on Deficits in Europe, Losses in US Payrolls “All the deficit concerns in Europe and fear it will spread to other nations there have driven us higher,” said Martin Mitchell, head government bond trader Treasuries Rise as Stock Losses, Euro Debt Concern Boost Demandall 6 news articles » |