AP – European markets responded calmly to Standard & Poor’s decision to cut the credit ratings of a number of euro countries as France managed to tap bond market investors Monday despite the loss of its cherished triple-A rating.
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Reuters – Stocks held firm near recent five-month highs on Wednesday as investors awaited key bond market tests for Europe in the next two days that could determine the direction of the euro zone crisis.
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Read More »AP – The bond market is said to be populated with worried, glass-half-empty types. And Pimco, the world’s largest bond fund manager, is never shy about making the big picture look pretty bleak. The thing is, they keep getting it right.
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Read More »U.S. stocks dropped, sending the Standard & Poor’s 500 Index to a fourth straight weekly loss, as a deeper-than-estimated slide in consumer confidence added to concern the economic recovery will be delayed.
CIT Group Inc., the century-old lender that trades in the bond market as if it may fail, slid 18 percent on concern the Federal Deposit Insurance Corp. won’t guarantee its bond sales. Chevron Corp. helped lead the Dow Jones Industrial Average lower as oil completed its worst weekly drop since January and the company said the weaker dollar was slashing profit. Technology shares rose, limiting the market’s slide, following analyst upgrades of Yahoo! Inc. and MEMC Electronic Materials Inc.
Source: bloomberg.com
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