3 July, 2015 by The TZ Newswire Staff Comments Off on Greek Banks Considering 30% Haircut On Deposits Over €8,000: FT
Greek Banks Considering 30% Haircut On Deposits Over €8,000: FT
Last week in “For Greeks, The Nightmare Is Just Beginning: Here Come The Depositor Haircuts,” we warned that a Cyprus-style bail-in of Greek depositors may be imminent given the acute cash crunch that has brought the Greek banking sector to its knees and forced the Greek government to implement capital controls in a futile attempt to stem the flow.
3 July, 2015 by The TZ Newswire Staff Comments Off on Barack Obama Tells Another Whopper – He Did Not Create 12.8 Million Jobs
Barack Obama Tells Another Whopper – He Did Not Create 12.8 Million Jobs
Submitted by David Stockman via Contra Corner blog,
America is better off when President Obama is out on the stump bloviating and boasting rather than in Washington actively doing harm. But the whoppers he just told the students at the University of Wisconsin are beyond the pale. Said our spinmeister-in-chief:
3 July, 2015 by The TZ Newswire Staff Comments Off on Home Construction ETF Leads and Holds Breakout
Home Construction ETF Leads and Holds Breakout
The mixed performance of ten key industry group ETFs reflects the flat performance in the S&P 500 since early May. Note that the S&P 500 is virtually unchanged since April 30. As the PerfChart below shows, six of the industry group ETFs are up and four are down. The Biotech SPDR (XBI) is the clear leader with a 21% gain in two months, but I am most interested in the Retail SPDR (XRT), Home Construction iShares (ITB) and Regional Bank SPDR (KRE). These three are up and showing leadership recently. ITB is the third best performer with a 6+ percent gain.
3 July, 2015 by The TZ Newswire Staff Comments Off on The Wall Street Journal: Iran Minister: ‘We have never been closer’ to nuclear accord
The Wall Street Journal: Iran Minister: ‘We have never been closer’ to nuclear accord
Iranian Foreign Minister Javad Zarif said Friday Iran and six major powers are closing in on a final nuclear agreement and urged his negotiating partners to complete the agreement and turn their attention to the “common threat” of violent extremism.
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3 July, 2015 by The TZ Newswire Staff Comments Off on The Margin: North Korea’s new airport terminal is swanky… and probably empty
The Margin: North Korea’s new airport terminal is swanky… and probably empty
North Korea recently opened a new terminal building at Pyongyang’s international airport, which lacks for nothing except perhaps travelers.
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3 July, 2015 by The TZ Newswire Staff Comments Off on Fearing Spillover, ECB Moves To Shield Neighboring Banks From Greek Meltdown
Fearing Spillover, ECB Moves To Shield Neighboring Banks From Greek Meltdown
On Monday, in “Beggar Thy Neighbor? Greece’s Battered Banks Beget Balkan Jitters,” we took an in depth look at the potential for the Greek banking crisis to infect Bulgaria, Romania, and Serbia, where Greek banks control a substantial percentage of total banking assets.
3 July, 2015 by The TZ Newswire Staff Comments Off on US Pushed For IMF Greek Haircut Study Release After Euro ‘Allies’ Tried To Block
US Pushed For IMF Greek Haircut Study Release After Euro ‘Allies’ Tried To Block
The timing of the release of The IMF’s ‘Greece needs a debt haircut no matter what’ report this week was odd to say the least. Being as it confirmed everything the Greek government has been saying and provided the perfect ammunition for Tsipras to spin Sunday’s Greferendum as a Yes/No to debt haircuts – something everyone can understand (and get behind).