Word: crunching
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Dates: during 2000-2009
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...ultimately volatility might simply be part of working through the effects of the credit crunch. The world is undergoing a great deleveraging and all that unwinding has ramifications. At the same time, the onslaught of market moving news - economic data, corporate earnings, governmental action - keeps coming. There is a massive uncertainty in the air, and in a market it is perfectly logical - perhaps even necessary - for uncertainty to be reflected in asset prices. Uncertainty, as reflected in volatility, is legitimate information, too. In a panel discussion about volatility's implications, Morgan Stanley executive director Robert Shapiro took a step back...
...demand for oil is off 10% worldwide, why are prices down more than 50%? It's not a one to one relationship - small demand swings can cause large price swings, says Blanch. And the unraveling of oil is the other side of the credit crunch. Banks, investment banks and speculators have pulled money out of oil futures, further driving oil prices down; that's one reason why prices have fallen far faster than demand...
...that the credit crunch is rolling full-tilt into the real economy, even credit unions with the benefit of geography likely won't be able to escape the effects of recession. At the 66,000-member Unitus Community Credit Union in Portland, Ore., loan volume is up this year in nearly every category - 32% in mortgages, 37% in student loans, 12% in credit cards - but so are delinquencies. Since the beginning of the year, late payments have increased from...
...world is in the grips of a perilous market crunch, the boom is over, and tough times loom. The U.K.'s FTSE-100 stock index has nose-dived and is down about 35% in the past year. Two famous British banks have already imploded--Northern Rock and Bradford & Bingley. And after a dramatic plunge in the stock price of other banks, on Oct. 8 the British government announced an emergency $88 billion recapitalization package that includes partially nationalizing three other banks: Royal Bank of Scotland, HBOS and Lloyds TSB. The City has been through enough slumps to know what...
Oxford Economics, which advises the British government, expects 110,000 jobs to be cut in London between this year and 2010--although if the credit crunch is protracted, that number could rise to almost 150,000 next year alone. Real estate is already reeling. Plans for two huge new skyscrapers in the City have been shelved, and the price of prime houses in central London has dropped 12% so far in 2008, according to the real estate firm Savills, while sales volume is down 50% in some areas like Clapham and Fulham...