Sunday, August 19, 2012

There's Always a Crisis Somewhere: Social Media, Spain, Munis, Student Debt (Links 8/19/12)

Source: New York Fed
Muni Crisis:

  • The Untold Story of Municipal Bond Defaults (New York Fed) *the unrated municipal bond market
  • Moody's: Municipal Bankruptcy Is Becoming A Popular Strategy In California (Business Insider/AP)
"To summarize, we expect ... more bankruptcy filings and bond defaults among California cities reflecting the increased risk to bondholders as investors are asked to contribute to plans for closing budget gaps," the report said.

Eurozone crisis:
  • Spain Banks Post Record Losses in First Half, Central Bank Says (Businessweek)
  • Spanish Bad Loans Soar By Most In 3 Years As Bond Issuance Set To Surge (Zero Hedge)
  • Spain says there must be no limit set on ECB bond buying (Reuters)
  • Finland prepares for break-up of eurozone (Telegraph)

Social media crisis:
  • Groupon closes at new low after ‘cash burn’ warning (Chicago Sun-Times)
  • Groupon hits low on Evercore downgrade, $3 price target (Reuters) *see post on gross billings
  • Facebook Falls by Half From IPO After Insider Sale Lock-Up Ends (SF Gate/Bloomberg)
  • Angie’s List hits all-time low, days after lock-up period for insiders selling stock ends (Washington Post)

And on student debt, QE3 speculation, Fannie and Freddie, and China:
  • Student loan delinquencies for retirees (SF Gate/MarketWatch) <-hits social security
  • Cost Of College Degree In U.S. Soars 1,120% Over 35 Years: Chart Of The Day (Bloomberg)
  • Goldman Sachs (Jan Hatzius) Sees Lower Odds of September QE3 on Data (Businessweek)
  • Fed 'Hawks' Weigh In Against More Action (WSJ, Jon Hilsenrath)
  • Fannie’s and Freddie’s Forgettable Friday (WSJ Overheard) *preferreds down 50%
  • Shrinking Credit for China's Banks (WSJ)

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