Word: plan
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...That isn't what markets vulnerable to American troubles want to hear, particularly the export-dependent economies of Asia, where concerns about a possible recession are compounded by doubts that the evolving, $2.2 trillion U.S. plan to bail out its finance and banking system will prove effective. For those reasons, some see flightiness reigning in stock markets for the foreseeable future. "I expect volatility to continue for some time as long as confidence hasn't been restored," says Matthew Kwok, head of research at Hong Kong's Tanrich Securities. "Sentiments are quite pessimistic...
...Such doubt is starting to hack off some leaders in Europe, who are getting impatient with market still fearful despite the $2 trillion plan announced by the 15 eurozone countries to buck up banks and credit systems. "We should stop looking at stock market activity the way a mouse watches a cat, and start thinking in the medium-term," the Luxembourg Prime Minister Jean-Paul Juncker told German radio Deutschlandfunk. Belying his own maxim, however, Juncker suggested additional efforts European governments may be planning to make should "impress the financial markets...
...traders will likely remain tough to wow. According to a draft that Reuters obtained of a final statement written for Thursday's conclusion of the summit of European Union leaders in Brussels, resolutions have largely been limited to approving the rescue plan and coordinated strategies of eurozone nations, along with vague promises of help when the crisis-aggravated recession sets...
...study released by the Open Europe think tank Monday estimates that the cost of the package as a whole will rise to almost $100 billion a year by 2020. Open Europe Research Director Hugo Robinson said the climate change plan "comes at exactly the wrong time for hard-pressed families all around Europe," and "will channel money towards very expensive and inefficient means of reducing CO2 emissions, imposing unnecessarily high costs on people struggling through already tough economic conditions...
...helps to explain why the dollar has been stronger lately. But with the U.S. Federal Reserve cutting interest rates again and the U.S. Mint running its printing presses overtime to fund rescue packages, won't the dollar tank soon? Probably not. As the Treasury Department's $700 billion bailout plan is implemented, banks should begin to be able to restructure their balance sheets and regain the capacity to make loans at interest rates that will be attractive at home and abroad. While a U.S. recession looks unavoidable, the stabilization of the financial system should allow a recovery to begin next...