Deeper Analysis
The Day After
May 11, 2010
Market movement since the euro area rescue package leave me less than overwhelmed. Writing yesterday in Larry’s Blog, I compared these measures to the November 1, 1978 dollar rescue package. The centerpiece of each of these initiatives was a war chest of resources that would be available to reverse undesirable market moves and then to […] More
New Overnight Developments Abroad - Daily Update
Doubts Return on European Debt
May 11, 2010
Equities have swooned. In a familiar pattern, the EUR 750 billion EU/IMF standby credit for ending the Euroland sovereign debt crisis produced only fleeting hope. One concern is that all governments will not pass laws ratifying the accord. Another is that the deal only postpones defaults. A third is that the ECB’s purchase of bonds […] More
