Euroland orders

German IFO and Moody’s Generate Troubling News

August 24, 2011

Moody’s downgraded Japan’s credit rating to Aa3 from Aa2, citing a big government deficit and rising debt/GDP ratio.  The news hurt Asian stocks. The IFO Institute reported a sharp drop and weaker-than-anticipated German business climate in August.  The overall index tumbled 4.2 points to 108.7, lowest since mid-2010.  The index had been at 114.4 just […] More

Focus Turns from Greek Vote to Bernanke Press Conference

June 22, 2011

Greek Prime Minister Papandreou won a vote of confidence in parliament, getting 155 of 300  votes.  Next step is for the legislature to approve new austerity measures next week so the fifth tranche of the EU/IMF/ECB aid package can be doled out.  Analysts remain under little illusion that a Greek default in the future can […] More