| JULY 2009 |
Interest rates and the economy: What's next?
7/1/2009
By CHRISTINE BIRKNER
A
bomb was dropped on the financial world and the economy at large when the financial sector collapsed in the fall of 2008, and the
United States
and the rest of the world are still working through the damage in 2009. Unemployment in the
United States
hit 9.4% in May, the housing market hasn’t begun to recover from its three-year tailspin despite happy talk of “green shoots,” and with the bankruptcy of General Motors in June,
the
U.S.
auto industry has officially cratered. Experts say that this economy could recover, albeit closer to 2010.
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Regulators: No more Mr. Soft Touch
7/1/2009
By STEVE ZWICK
At the recent
Mondo
Visione
Exchange Forum in London, longtime regulatory consultant Richard Britton read aloud a passage from the 126-page Turner Review (See “Credit Default Swaps: Still the Object of Desire,” Futures, April 2009), which was published by the UK’s Financial Services Authority (FSA) in March and authored by FSA Chairman Lord Adair Turner in response to regulatory failures leading up to last year’s financial crisis.
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Credit default swaps clearing battle
7/1/2009
By CHRISTINE BIRKNER
So far, the Intercontinental Exchange (ICE) has emerged as the volume winner among exchange efforts to clear credit default swaps (CDS). ICE US Trust, which has the backing of major investment banks, had total volume of $84 billion at the end of May. Meanwhile, CME Group’s clearing venture, CMDX, has stalled, and its backers are starting to question why.
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The May 2009 I-Trade show is now ON DEMAND until Aug. 19. Watch presentations from Al Brooks, George Kleinman, Larry Williams and other real traders and visit vendors for product and service information. It's free! Click here to register and enter the show. |
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