Early in Europe, equity markets are mixed to lower following a mixed Far East close. U.S. Futures are lower. Prices in Fixed income markets are lower. The EUR is mostly up on its crosses while the USD is mixed.
Winter is here in the NORTH - by the time it leaves the UK and US, winners in the 2016 Change Sweepstakes, will have a pretty good idea of the payoff amount - USD and GBP have responded differently but that can change as well
In the US the new Administration will have thrown a new Supreme Court Justice into the political mix, one or two new members of the Federal Reserve into the economy and a hint of whether Change is real or scam
Unlike every other market FX is political because currency is the creature of government -- 2017 is the Year of the New World Order so stable governments should yield best FX results
Mixed Risk indeed!
Mtl JP 12:36:21 GMT - 12/22/2016
No anchor investor has expressed interest in buying stock
Government prepares 20 billion-euro package for lenders
Italian banks are holding nearly a third of the 990 billion euros ($1.05 trillion) of unpaid loans at top euro zone lenders, European Central Bank data showed on Tuesday ... .. ... The ECB report showed the epicentre of the problem is in Italy, where 14 large banks sit on 286 billion euros of so-called "non-performing exposure" - loans, debt securities and off-balance sheet items that aren't being repaid
Jp - my understranding of the collateralized NPL problem in Italy is the bankruptcy laws that make seizure difficult -fix that and save the 20 bio bailout?
Mtl JP 13:25:46 GMT - 12/22/2016
nh thk u but I am not sure I would be joining your Hammer and Crowbar Collection agency.
In the meantime hope u r getting filthy rich on my BoD usdcad hectoring (my facilitation of your x-mass wish for a pony *-)
LONDON SFH 13:38:11 GMT - 12/22/2016
The whole definition of a NPL is a loan that is close to being in default....so even seizure of capital would not repay the missed interest payments and even more so given most collateral is clearly not worth the same as the loan
Mtl JP 13:42:56 GMT - 12/22/2016
so with that I nominate the loan and credit risk officers for a Nobel prize in banking. got some names I can submit SFH ?
LONDON SFH 13:45:25 GMT - 12/22/2016
Do you know any banks WITHOUT NPLs?....And since when did a Nobel prize exist for banking numbNuts?
Mtl JP 13:56:02 GMT - 12/22/2016
SFH surely "990 billion euros ($1.05 trillion) of unpaid loans at top euro zone lenders" is deserving of some sort of recognition.
If not a Nobel prize maybe names engraving on Mtl JP CRETINS-hood's memorial. (probably need a monument taller than 45-floor 186-meter European Central Bank HQ in FRANKFURT)
LONDON SFH 14:01:38 GMT - 12/22/2016
JP...If you kick the can down the road long enough then eventually it runs into a great big brick wall and the mkts have realised now you can't ignore it forever....Did you not realise these NPLs in Italain bks existed or the extent of them either then?
What prize did you give to the management running companies such as AIG after they got bailed out in 2008?
This is hardly a new thing....just a case of different clothes
Mtl JP 14:35:18 GMT - 12/22/2016
SFH 14:01 "and the mkts have realised" is the crucial inflection point in trading a speculative market like the FX
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