Posts from Friday Jul 27 2012

Winning over Buba

Joseph joined FT Alphaville way back in March 2010. He likes all the politically and legally fiddly bits of finance. He also likes credit, rates, global macro, tail risk, and all that stuff. (You should email him story ideas. He’ll take anything.)

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| Jul 27 2012 19:45 | Comment |

This’ll surely liven up next Thursday’s ECB meeting…

Via Bloomberg late on Friday (which was citing two central bank officials): Read more

Bail-ins, an exit consent challenge

Joseph joined FT Alphaville way back in March 2010. He likes all the politically and legally fiddly bits of finance. He also likes credit, rates, global macro, tail risk, and all that stuff. (You should email him story ideas. He’ll take anything.)

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| Jul 27 2012 16:52 | Comment |

On this quiet, Olympics Friday — some bank bail-in reading, courtesy of a judgement by the High Court of England and Wales.

It’s come down surprisingly hard on a small, but very important, weapon in the armoury of bailing-in bank bondholders: exit consents. Read more

Can Draghi bluff as well as Trichet?

Masa joined the FT in 2009 and has worked on a number of desks across the paper, including Companies, Markets and Comment. She spent much of 2010 in New York covering the US equity markets. But earlier this year she finally saw the light and moved to Alphaville.

She started her career in the investment banking division at Lehman Brothers in the summer of 2007, timing it perfectly with the beginning of the credit crunch.

She studied philosophy, politics and economics at Oxford University.

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| Jul 27 2012 16:37 | Comment |

“Such a speculation [on whether Greece will default] would be a sure-fire way of losing money given the decisions taken last Thursday.”

- Jean-Claude Trichet, in an interview Le Point on 22 July 2011 (published 27 July). Read more

The structure of EU debt and bonus pop quiz!

Masa joined the FT in 2009 and has worked on a number of desks across the paper, including Companies, Markets and Comment. She spent much of 2010 in New York covering the US equity markets. But earlier this year she finally saw the light and moved to Alphaville.

She started her career in the investment banking division at Lehman Brothers in the summer of 2007, timing it perfectly with the beginning of the credit crunch.

She studied philosophy, politics and economics at Oxford University.

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| Jul 27 2012 13:22 | Comment |

Get ready to pretend to look surprised… Government debt in Europe increased last year.

Obviously you are shocked! Ahem. Read more

Why the Olympics might let Draghi stay at the beach

David joined the FT in 2011 as a Marjorie Deane fellow. He covered emerging markets, equities and currencies before making the jump over to FT Alphaville in May 2012.

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| Jul 27 2012 12:24 | Comment |

Summer time! When:

+  +  = Read more

The world is better off: from fridges to mobiles in EM countries

Lisa joined FT Alphaville in September 2011 after a tour of duty through the guts of the financial industry, having worked as an analyst at a bank and for a financial data company.

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| Jul 27 2012 11:16 | Comment |

Consumer and business confidence in Europe and the US is down. Even McDonald’s, the fastfood eatery that ensures students can afford meat for dinner, is worried about the impact of the gloom on its profits. It’s ugly out there.

However, let’s take a moment to reflect on the longer term, and more global, picture. Also we need to meet our quota of one positive news story per week. Courtesy of UBS, here’s how consumption of certain white goods generally evolves as the GDP per capital for a country increases (using data from Euromonitor as well as their own): Read more

Markets Live transcript 27 Jul 2012

Paul Murphy is the founding editor of FT Alphaville.

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| Jul 27 2012 11:01 | Comment |
This is a Markets Live transcript. Read more

Live markets commentary from FT.com 

What’s the ECB going to do next?

Masa joined the FT in 2009 and has worked on a number of desks across the paper, including Companies, Markets and Comment. She spent much of 2010 in New York covering the US equity markets. But earlier this year she finally saw the light and moved to Alphaville.

She started her career in the investment banking division at Lehman Brothers in the summer of 2007, timing it perfectly with the beginning of the credit crunch.

She studied philosophy, politics and economics at Oxford University.

Learn more

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| Jul 27 2012 10:54 | Comment |

Recent comments from Mario Draghi and Ewald Nowotny have got the markets all aflutter and struggling to understand how policymakers are going to keep the eurozone together in the next weeks and months.

JPM’s David Mackie has complied a list of possible actions, in descending order of likelihood as he sees it: Read more

The (early) Lunch Wrap

David joined the FT in 2011 as a Marjorie Deane fellow. He covered emerging markets, equities and currencies before making the jump over to FT Alphaville in May 2012.

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| Jul 27 2012 10:48 | Comment |

Good morning, New York…

FT ALPHAVILLE Read more

Barclays records earnings beat (and apology)

David joined the FT in 2011 as a Marjorie Deane fellow. He covered emerging markets, equities and currencies before making the jump over to FT Alphaville in May 2012.

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| Jul 27 2012 08:48 | Comment |

The bank beat expectations with an adjusted profit before tax of £4.2bn, cut its eurozone exposures, set aside £450m to compensate small and medium-sized businesses that were mis-sold interest rate hedging products and said sorry again… which was nice.

From the statement: Read more

Premia, there and everywhere

Joseph joined FT Alphaville way back in March 2010. He likes all the politically and legally fiddly bits of finance. He also likes credit, rates, global macro, tail risk, and all that stuff. (You should email him story ideas. He’ll take anything.)

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| Jul 27 2012 08:25 | Comment |

Who went back and read Mario Draghi’s full, market-moving remarks in London on Thursday — beyond the “whatever it takes” and “yields” bits?

Here they are. Read more

Further reading

| Jul 27 2012 08:10 | Comment |

Elsewhere on Friday,

– Optimism about the eurozone: someone’s gotta do it. Read more

The 6am Cut London

Kate is FT AV’s Asia Correspondent. She joined FT Alphaville in mid-2011 after carrying out various roles in the FT’s London office since 2005: interactive editor, companies reporter, and founding editor of the FT’s Energy Source blog.

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| Jul 27 2012 05:31 | Comment |

Asian stocks rose for a second day and the MCSI Asia Pacific index headed for its biggest gain in four weeks after ECB president Mario Draghi said the central bank would do whatever is needed to preserve the euro (Bloomberg).

Facebook shares reached a new low after its first quarterly earnings as a public company showed slowing advertising growth and narrowing margins. The shares fell more than 10% in after-house trading to $23.84, compared with the issue price of $38 in the company’s IPO (Financial Times). Operating margins were 43% compared to 53% a year earlier, and revenue growth of 32% was the slowest the company has recorded (Bloomberg). Read more