By: GZ on Venerdì 09 Novembre 2007 14:51
^Ambrose Evans-Pritchard#http://blogs.telegraph.co.uk/business/ambrosevanspritchard/nov07/witchesbrew.htm^ secondo me un poco lo leggono, guarda il dollaro/yen che oggi sfonds 111 yen ...-1.4%
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Morgan Stanley, let me quote the latest thoughts of their credit strategist Gregory Peters – which were e-mailed to me today:
“Systemic risk is very high. I am as negative as I have been in years, given the deep structural issues plaguing the credit markets – which will in turn hurt the US consumer and the US economy. The Federal Reserve cutting rates does little to solve these deep structural issues.
“In my mind, the critical importance of the securitization process (ie packaging mortgages into CDO bonds, etc) has not been fully appreciated. It is crucial for the overall economy. The virtuous circle of cheap financing helped prop up consumption. Today, the machine appears to be broken, turning the virtuous circle into a vicious one.
“Subprime problems are the canary in the coal mine. They have led to the shuttering of much of the securitization market, which is thus restricting capital. The longer we see dislocation, the more troubled I will be regarding financials, the consumer, and the economy,” he said.
...Eurozone 2.6%, (highest since the launch of the euro).
China 6.2%
Russia 9%
Vietnam 14%
United Arab Emirates 9.3%
Saudi Arabia 4.9%
Latvia 13%
Romania 6%
Chile 6.5%
Kazakhstan 8.6%