The Financial Crisis Goes Global

By: Francis Cianfrocca (Diary)  |  October 9th at 04:01 AM  | 

The news background is relatively benign this morning. Stock markets in Asia and Europe are stronger, after five days of relentless and at times violent selling. Credit markets are just as dysfunctional as ever, but not much worse. There are several things to watch over the next several days: corporate earnings, global countermeasures to the crisis, and further aggressive actions by the Fed and Treasury. | Read More »

The Credit Markets Are Worried

By: Francis Cianfrocca (Diary)  |  October 2nd at 06:47 AM  | 

Yesterday’s somewhat anticlimactic news from Capitol Hill was that the Senate passed a new (and disgustingly pork-laden) version of the Paulson rescue proposal. Asian stock markets fell on the news, although overnight-dollar interest rates also fell somewhat. The action moves back to the House of Representatives, which is expected to vote on the new draft on Friday. In failing to pass the previous version the | Read More »