The Traderszone Network

Submitted by Raul Ilargi Meijer via The Automatic Earth blog,

I have plenty to say on the topic of this essay. But the most important thing I think is that I know the EU is blowing up itself by trying to exert far too much influence on the very member nations that made its existence possible. Brussels is a blind city. To see it blowing itself to smithereens makes me very happy.

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When the moment comes for Greece to leave the euro, the Greeks will be fine.

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The announcement by Gov. Alejandro García Padilla of Puerto Rico that the commonwealth may seek to delay debt payments has thrown hedge funds’ strategies into turmoil.

In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction. “It was an unexpected bonus,” JPMorgan Chief Executive Jamie Dimon told Reuters in an interview, adding that the apartment lending business is the single most valuable asset that JPMorgan acquired in the auction. Washington Mutual’s apartment lending business was the biggest of its kind in the United States and Dimon has made it even bigger.

Growth in China’s services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia’s largest economies despite sluggish factory growth. Wednesday’s data fueled expectations that the wobbly global economy may start leveling out in the second half of the year, but the outlook remains murky, with fears that Greece’s debt crisis could splinter the euro zone and worries about whether China can avoid a stock market crash keeping investors on edge.

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Brazilian state-run oil company Petroleo Brasileiro SA’s long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt. The company’s $90 billion cut on Monday from planned investment over five years and 30 percent reduction to its 2020 oil and natural gas output forecast mark the first major retrenchment by Petrobras, as it is known, since the discovery of giant offshore oil reserves south of Rio de Janeiro was announced in late 2007.

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The last six months have been frustrating for currency traders, who once believed unbridled dollar strength would lead to easy profits in 2015.
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