#1 The yield on 10 year Italian bonds has now risen to more than 6 percent.
#2 The yield on 10 year Spanish bonds has now risen to more than 7 percent. This is considered to be an unsustainable level.
#3 Citigroup Chief Economist Willem Buiter says that both Italy and Spain are going to need major bailouts.
#4 The Spanish banking crisis continues to get worse. The following is from a CNN article that was posted on Monday….
But the depth [...]
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President Barack Obama and presumptive Republican nominee Mitt Romney may be tied in general election matchup polls, but a new survey shows Obama’s popularity is growing among global investors.
According to a new poll of more than 1,000 Bloomberg customers, Obama is viewed in a positive light by 56 percent of global investors compared to only 40 percent who favor Romney. In the U.S. however, [...]
(CNN) – Two European elections, in France and Greece, have thrust the radical fringe into the spotlight.
In Greece, voters disillusioned by a brutal austerity program pushed through by the two mainstream parties have turned instead to parties on the far left and far right.
As a result, a leftist coalition opposed to austerity is seeking to form a government, and Golden Dawn — an ultranationalist party linked to street violence and neo-Nazism [...]
The results of the elections in France and Greece have made it abundantly clear that there is a tremendous backlash against the austerity approach that Germany has been pushing. All over Europe, prominent politicians and incumbent political parties are being voted out. In fact, Nicolas Sarkozy has become the 11th leader of a European nation to be defeated in an election since 2008. We have seen governments fall in [...]
Gold’s London AM fix this morning was USD 1,627.00, EUR 1,250.77, and GBP 1,008.99 per ounce. Friday’s AM fix was USD 1,629.50, EUR 1,240.20 and GBP 1,007.54 per ounce.
Silver is trading at $29.74/oz, €22.91/oz and £18.47/oz. Platinum is trading at $1,525.50/oz, palladium at $635.40/oz and rhodium at $1,350/oz.
Gold fell $3.70 or 0.23% in New York yesterday and closed at $1,638.70/oz. Gold started out sideways in Asia then gradually dropped lower [...]
Published on May 2, 2012 by CapitalAccount
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Welcome to Capital Account. Nicolas Sarkozy and challenger Francois Hollande face off today in a live French election TV debate. This is reportedly being seen as the climax of the campaign. With elections in France and Greece this weekend, the results have the potential to send shockwaves across theEuropean debt-landscape. We speak with former diplomat and investment banker, and founder of creditwritedowns.com, Edward Harrison [...]
Gold’s London AM fix this morning was USD 1,661.25, EUR 1,253.02, and GBP 1,024.70 per ounce. Yesterday’s AM fix was USD 1,662.50, EUR 1,256.61 and GBP 1,021.44 per ounce.
Silver is trading at $30.85/oz, €23.37/oz and £19.10/oz. Platinum is trading at $1,570.00/oz, palladium at $677.60/oz and rhodium at $1,350/oz.
Gold rose $3.80 or 0.23% in New York yesterday and closed at $1,666.10/oz. However, there were more peculiar goings on in the gold [...]