Standard & Poor lowered Finland’s long-term ratings to AA+ on Friday, on weak economic growth. S&P also revised France’s outlook to negative in light of a deteriorating budgetary situation and difficulties pushing through reforms. Today’s graphic lists the long-term sovereign debt ratings for some of the world’s major economies.
Irish bond yields dipped today after Moody’s raised the country’s rating by two notches on Friday, citing strong growth dynamics. At around 120% of GDP, Ireland still has one of the most bloated government debt burdens in the euro zone. Today’s graphic shows the long-term sovereign debt ratings for some of the world’s major economies.
British Prime Minister David Cameron’s plans to renegotiate ties with the European Union (EU) are “wishful thinking”. That was a takeaway from our Reuters Newsmaker with UK Deputy Prime Minister, Nick Clegg, held at our South Colonnade office (May 9) in London.
Reuters journalist and TV anchor Axel Threlfall hosted the ‘standing-room only’ interview and Q&A session. In his opening speech Nick Clegg said that Cameron’s threat to opt out of the Euroean Union, or “Brexit”, put the Prime Minister on a collision course with his backbench Members of Parliament (MPs) and the needs of British business. If re-elected next year, David Cameron would try to renegotiate Britain’s ties to the EU and give the nation a referendum on whether to remain inside the 28-nation bloc.
Clegg said: “You fight Britain’s corner effectively not by going on a whistlestop tour of Europe’s capitals, a list of make-or-break demands in hand. You do it by engaging with our neighbours, forging alliances with like-minded states and winning the argument.”
What would Britain look like if it left the EU? (more…)
On Friday, ratings agencies gave a broadly upbeat assessment of the euro zone’s creditworthiness, contrasting with the reviews of recent years and reflecting growing confidence in the region’s fiscal and economic recovery. Today’s graphic shows the long-term sovereign debt ratings for the U.S., Britain, Japan and the entire euro zone.
Those of us in the financial industry have been looking carefully at the signs of recovery and how to read them. Earlier today I hosted a Thomson Reuters Newsmaker with the UK’s Chancellor of the Exchequer George Osborne and Reuters editor-at-large Sir Harold Evans and the overriding sentiment is that a British recovery is under way, but “the job is very far from done.” (more…)
The euro zone unemployment rate was flat in August after easing in July for the first time in two years, showing the budding economic recovery was starting to have a positive impact on the labor market. Today’s graphic breaks down the unemployment rates for all the European countries.
The current year has been beset by periods of market uncertainty. By the post-holiday period, this had showed no signs of retreating. In fact, the prospect of Syria hostilities added to a docket already replete with event-risk potential.
Talk of tapering by the Federal Reserve has had the market transfixed since the middle of the year and has led to fairly dramatic shifts in Treasury yields and in funds flow. Emerging market currencies, bonds and equities have been hammered.
But where does the euro zone fit into this complex of globally inter-connected factors, events and eventualities? What does the remainder of 2013 hold in store for EZ government bond markets and how should we be viewing market opportunities for 2014?
The unemployment rate among Europeans aged 15-24 edged higher in Q1 of this year, as 23.5% of the youth in the EU27 were jobless. Today’s graphic breaks down the unemployment rate by countries in the EU27.