giovedì 11 marzo 2010

Hot News dalla Top-Blogosfera made in U.S.

Nouriel Roubini: Poor Economic Data Suggests A Double-Dip Recession Is Coming

A slew of poor economic data over the past two weeks suggests that the U.S. economy is headed for a U-shaped recovery--at best--in 2010.

The macro news, including data on consumer confidence, home sales, construction and employment, actually suggests a significant downside risk even to the anemic levels of growth which I forecast for H1 (the first half of the year).


Greek 2 Year Yields Spike On Talk Of New 3 Year Offering, Speculators Not Blamed Yet

After just 5 days of relative quiet, a rumor of a Greek 3 Year bond issue is pushing GGB spreads higher over in Greece. 2 Year yields have jumped by 22 basis points to 4.91%, with concerns about the short-end of the curve are pushing the long-end wider as well, with the 10 year drifting wider.
Selling in bonds has caused CDS spread to also widen, meaning that the latest round of CDS scapegoating is expected to commence in a few short minutes.


Feldstein: Forget The Euro, I'm Nervous About The Dollar

Earlier on Bloomberg TV, Harvard University professor Martin Feldstein claims that "panic selling" is the reason behind the euro's 10% decline since November. He also gives a strong claim to hold concern over the dollar in the coming years:

"If I wanted to be nervous about the future of a currency over the next, say, five years, there is more reason to worry given the size of the U.S. budget deficits and given the size, even more importantly, of our trade and current account deficits."