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
