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November 25
Which of the "Rich Four" Countries Will Default First?
By Martin Hutchinson
Contributing Editor
Money Morning
Volume in the credit default swap market for rich countries has soared and so have credit spreads, according to a recent Financial Times story, while volume in emerging markets CDS has stagnated. In other words, traders are betting against the governments with high budget deficits, like Britain and the United States, as well as against those with high debt levels, like Japan and Italy.
So is there really a substantial chance of a big rich-country default, and what would it look like if it happened?
It's not obvious which of the "Rich Four" countries would go first.
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The Next 750- Point "Up" Day Has Already Been Scripted…
It's been given a date and a time. So has the next 1,000-point "down" day in the markets. Most investors have a gut feeling - they know the markets are manipulated. It's time to listen to your gut. A Syndicate of traders are scripting the market gains. Get in their way and you'll likely get crushed. The renowned Jon Markman reveals the true story - and shows you how you could trade along with the Syndicate to make enormous gains - before New Year's Eve. Just go here.
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Hot Stocks: IBM Simplifying and Succeeding While Oracle is Struggling
By Jason Simpkins
Managing Editor
Money Morning
While its chief competitor Oracle Corp. (Nasdaq: ORCL) is laboring to smooth out the wrinkles in its merger with Sun Microsystems Inc. (Nasdaq: JAVA), International Business Machines Corp. (NYSE: IBM) is streamlining its core business and fulfilling its mandate for innovation.
IBM – which had itself attempted to by Sun but balked at the hefty price tag – has been spared the regulatory scrutiny that comes with trying to merge to large global businesses. And instead of complicating its business, IBM is getting back to its roots in mainframes and virtualization – which means focusing on storing and processing data.
In fact, IBM recently announced the release of 10 new software products all designed to improve the performance and increase the cost efficiency of its System Z mainframe...
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Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world.
GM May Keep Saab After Deal Falls Apart; Third Quarter GDP Revised Down; Home Prices Rise for Fourth Straight Month; European Commission Drops Qualcomm Antitrust Inquiry; Fitch Downgrades Mexico; Bank Rossi Takes Action - General Motors Co.'s board will decide the future of its bankrupt Saab unit, and may shut it after Koenigsegg Group AB canceled a planned acquisition of the Swedish company, a person familiar with the matter told Bloomberg News. GM's board will review Saab's future at a Dec. 1 meeting and directors could opt to keep Saab, as they did when deciding earlier this month to cancel a sale of the Opel brand in Germany. The pullout by Koenigsegg, which said it ran out of time to complete a deal, is the third brand sale to falter since GM's July 10 bankruptcy exit. GM backed out of the Opel sale to a group led by Magna International Inc. (NYSE: MGA), and Penske Automotive Group Inc. (NYSE: PAG) withdrew from a plan to buy Saturn in September.
- The U.S. economy grew at a rate of 2.9% in the third quarter, down from the initial estimate of 3.5% the Commerce Department said yesterday (Tuesday). But most analysts said the revised data signaled the anemic economic recovery was intact, noting it was still the fastest pace since the third quarter of 2007. "We are still on the right path and a double-dip (recession) is not on the cards," said Jonathan Basile, an economist at Credit Suisse Group AG (NYSE: CS) told Reuters. The return to growth in the July-September period, after four straight quarters of declining output, probably ended the most painful U.S. recession in 70 years. The economy contracted at a 0.7% rate in the April-June period.
- The S&P/Case-Shiller home-price index of 20 U.S. cities showed home prices rose for a fifth straight month in September, pointing to improvement in real estate that's helping the economy emerge from recession. The index rose 0.27% from the month prior on a seasonally adjusted basis, after a 1.13% rise in August. The gauge fell 9.36% from September 2008, more than forecast. Still, it was the smallest year-over-year decline since the end of 2007. Rising home sales have helped stem the slump in property values that precipitated the worst recession since the 1930s. "The reduction of inventories we have seen has helped stabilize prices," said Michael Gregory, a senior economist at BMO Capital Markets in Toronto.
- The European Commission shut down antitrust proceedings against Qualcomm Inc. (Nasdaq: QCOM) as big technology companies dropped their four-year old complaints against the U.S. mobile chip supplier. The Commission's decision came as Telefonaktiebolaget LM Ericsson (ADR Nasdaq: ERIC), the world's biggest mobile network equipment maker, and Texas Instruments Inc. (NYSE: TXN), Qualcomm's biggest wireless chip rival, both announced that they were withdrawing their complaints. The move marks the end of the case, which began in October 2005 when six large companies lodged complaints about Qualcomm's licensing practices. The closing of the case means Qualcomm could be in a better position to return more cash to shareholders through share buybacks or a dividend increase. "We believe there was some overhanging concern that the EU could fine Qual comm," UBS AG USA (NYSE: UBS) analyst Maynard Um told Reuters.
- Fitch Ratings Inc. yesterday (Tuesday) downgraded Mexico because of concern over the country's medium-term fiscal outlook and growth potential. Fitch dropped Mexico's rating to triple-B, two notches above non-investment grade, or "junk" status.
- Russia's central bank, Bank Rossii, cut its refinancing rate to 9% from 9.5% and reduced the repurchase rate charged on central bank loans to 8% from 8.5%, effective today (Wednesday). It last lowered them by half a percentage point on Oct. 30. "The narrower difference between the levels of domestic and external rates will help stem the ruble's strengthening," the central bank said in a statement.
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Why Is Wall Street Buying this Tiny Oil Stock - But Not Telling Investors?
Goldman Sachs and Barclays are building huge positions in a tiny oil company right now. But they won't disclose the details of their investment to the media - or even their own clients! Why? Their target is a microcap company that's discovered 40 billion barrels of oil, worth $2.8 trillion!
It's just days away from bringing this mother lode to market. By investing ahead of the event, these banks could pocket 46 times their money. This report reveals what they're up to. It also shows you how you could join them - very discreetly - to make just as much. Please go here for details.
11/24/2009
As Bank Failures Grow, FDIC Options Narrow
11/23/2009
U.S. Economy Will Grow Faster Than Expected, Jobs to Return to Growth Next Year, Economists Say
11/23/2009
Markman on the Markets: Is it Time to Buy Monsanto?
Feature
How You Can Profit from the New Global Economy
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November 23
| Existing Home Sales (10/09) | November 24
| Third Quarter GDP (Revised) | | November 25 | Durable goods orders (10/09) |
| Personal income and spending (10/09) | | | Jobless claims (week ending 11/20) |
| Consumer sentiment (10/09) | | | New home sales (10/09) | November 26
| Markets closed for Thanksgiving holiday | | November 27 | Markets close early | Worth Considering
The Just-Released Formula for Predicting High-Yield Winners
Buy, Sell, or Hold?
by Horacio Márquez
Insights on Income
by Martin Hutchinson
Inside Wall Street?
by Shah Gilani
When and How the U.S. Economy
Will Recover
Three Big Reasons Oil Prices Will
Rally Back Big Time
Alternative Energy
Asia
Commodities
Europe
Global Markets
Gold/Precious Metals
Oil
Real Estate
Technology
U.S. Economy
|
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