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European Bond Update

November 04, 2009
There are three main stories to be aware of in the European bond market today.
First, Fitch cut its Irish bond rating of AA+ to AA-, citing widening fiscal shortfall and the rising cost of the financial support programs. S&P and Moody's had reduced Ireland's sovereign rating earlier this year, but the Fitch move puts its rating one not…
European Bond Update European Bond Update Reviewed by magonomics on November 04, 2009 Rating: 5
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New EC Forecasts--a bit more optimistic than the IMF

November 03, 2009
The European Commission released new forecasts earlier today that generally upgrade its outlook, the first time in two years. On Thursday the ECB staff will provide updated forecasts as well.
The EC now expects the euro zone economy to expand by 0.7% next year. Previously it though the region's economy would contract by 0.1%. The IMF is less s…
New EC Forecasts--a bit more optimistic than the IMF New EC Forecasts--a bit more optimistic than the IMF Reviewed by magonomics on November 03, 2009 Rating: 5
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Q4 US Borrowing Slashed

November 02, 2009
Late yesterday the US Treasury announced a dramatic cut in its anticipated borrowing requirements for this quarter. The net borrowing is expected to now be near $276 bln. This is down by almost half (43%) from the previous estimate of $486 bln.
Q4 US Borrowing Slashed Q4 US Borrowing Slashed Reviewed by magonomics on November 02, 2009 Rating: 5
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RBA Kicks Off Central Bank Meetings

November 02, 2009
The Reserve Bank of Australia is widely expected to hike rates early Tuesday. This would be the second move in the cycle. A Bloomberg survey found 18 of 22 expect a 25 bp hike while the remaining four expect a 50 bp move. We are inclined to be part of the majority here, believing that fragility of the global recovery and strength of the Australian…
RBA Kicks Off Central Bank Meetings RBA Kicks Off Central Bank Meetings Reviewed by magonomics on November 02, 2009 Rating: 5
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Iceland Scales Back Capital Controls

November 02, 2009
Effective today, Iceland lifted restrictions on capital outflows. New investors can now exchange their holdings for foreign currencies, provided the transactions are duly registered.
Iceland Scales Back Capital Controls Iceland Scales Back Capital Controls Reviewed by magonomics on November 02, 2009 Rating: 5
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