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Swedbank sweats
FT Alphaville —
Things may be getting better around the world , but as can be seen in Swedish lender Swedbank’s results , loan impairments originating from the Baltic region are still growing meteorically: Swedbank impairments - Swedbank Indeed, as the bank states: Due to impairment losses on loans of SEK 8.2bn (0.4), Baltic Banking reported a loss of SEK 4.7bn, against a profit of SEK 2.3m in the same period last year. Of the impairment losses on loans, SEK 4.5bn (0.2) related to Latvia. Interestingly, Swedbank notes it’s the corporate sector that appears most strongly hit — although ...
Lunch Wrap
FT Alphaville —
... - Footsie risers . - Swedbank sweats . - Bringing it back on balance sheet. - The missing shame gene. - Shanghai turndown. - Monoline vertigo. - A crude correction. - Obama’s health plans in Pink picks. - The battle of the Phibro bonus in Further reading. - Restructuring structured products, an update. - Asian markets, rights issues and Heritage oil on Markets Live . On FT.com, - Japan emerges from recession. - Pound slides against dollar. - FTSE under pressure as risk ...
Japan Emerges From Recession
CARPE DIEM —
FT.com -- Japan has climbed out of recession after the economy returned to growth in the second quarter, raising hopes that the worst of the financial crisis is over in the world’s second-largest economy. Data released on Monday showed that ...
Land of the rising GDP…and deflation
FT Alphaville —
... package in April in case it forms a new administration after the general election, it would be doing so to finance their version of fiscal stimulus package, such as child allowance, free high school education and abolition of provisional tax rates on gasoline, etc. And equity market investors certainly weren’t impressed - the Nikkei average fell 3.1 percent on Monday in its biggest one-day fall in nearly five months. Then again, the night is darkest before the dawn… Related links: Japan emerges from recession - FT ...
Japan Emerges From Recession, But The Slump Continues
Japan Economy Watch —
Amidst a huge fanfare of euphoria from the press, Japan's GDP expanded by 0.9% quarter on quarter between April and June, or at a 3.7% annualized rate. In doing so it clocked up the first positive growth in five quarters. Many now claim the worst is over, but I fear those who are saying this are missing some of the key features of the Japanese situation. Others are also now having their doubts. The Financial Times this morning has already begun to qualify its initial response: "Japan returned to growth in the second quarter after a year of contraction, but economists warned ...
Japan Emerges From Recession, But The Slump Continues
Global Economy Matters —
... GDP expanded by 0.9% quarter on quarter between April and June, or at a 3.7% annualized rate. In doing so it clocked up the first positive growth in five quarters. Many now claim the worst is over is over for Japan, and in terms of the depth of contraction it may well be, but I fear that recovery may be a much more distant prospect than some imagine, and even when it does come may be far more tepid than is being factored in by the consensus. I am not alone in having there doubts. The Financial Times this morning has already begun to qualify its initial response: ...
The yen, Greed & Fear and the ‘Britney factor’
FT Alphaville —
... that is a massive if, it should be bullish for the yen. It would certainly mean that yen interest rates would be under upward pressure, however gradual. Meaningful spending cuts in the budget would also mean that the fiscal position would become more sustainable. For these reasons a more open mind has to be kept on the yen until it becomes clear if the politics is really changing. Related links: Japan votes to swim with the current of history, Jonathan Allum - The Times Japan emerges from recession - FT Japanese economy - Lex Japan - two lost ...
The ups and downs of Japan’s first post-LDP week
FT Alphaville —
... long-established self-financing system in the JGB market. But equally if the DPJ can really crack down on public sector pork, there is the potential for the fiscal position to be put on a healthier sustainable basis. For now, he advises, investors should “keep an open mind and see what happens - or does not happen”. Related links: The yen, Greed & Fear and the Britney factor - FT Alphaville Japan votes to swim with the current of history, Jonathan Allum - The Times Japan emerges from recession - FT Japanese economy - Lex
