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Happy Fourth of July!!!!!!!!

Posted by Vitoria Saddi on July 04, 2009

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credits: Robert Gerard Brown

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Standard & Poor’s Revised Sovereign Recovery Ratings Criteria

Standard & Poor's launched a revised global Recovery Ratings Scale and new Sovereign Recovery Ratings criteria. In brief, besides the usual rating system the new one created a ‘recovery rating scale’ for speculative grade countries. In turn, according to the next table, countries’ recovery ratings vary from 1+ through 6. A recovery rating of 1 will increase the country rating by 2 notches whereas a recovery rate of 4 does not affect the country rating. In turn, the overall rating system no longer incorporates the probability of default but mostly the probability of recovery. In the next table, Erste Bank summarizes the S&P outcomes for the 25 speculative-grade sovereign issuers. The first column in the above table is the usual ratings attribute by S&P. The second column, however, is the ‘recovery rating’. In this case, Brazil and Colombia, for instance, have the same (BB+) ratings but Colombia has higher recovery ratings than Brazil. Given that a better than average r

O Adeus à TV Bloomberg Brasil

A TV Bloomberg vai ser extinta dia 20 de janeiro. Você, caro leitor, sabia disso? A TV Bloomberg Brasil é um veículo importante para divulgar opiniões econômicas e financeiras de alto nível. Eu ainda não me conformo com a apatia das população brasileira. Ninguém reclama, protesta ou mesmo escreve um artigo para chamar a atenção para tal fato. A extinção da TV Bloomberg é um evento que deve trazer impactos bastante negativos à mídia de forma geral pois tende a aumentar o grau de monopólio das grandes redes nacionais e assim reduzir ainda mais o já escasso debate sobre política econômica no Brasil. A TV Bloomberg sempre se pautou pela diversidade de opiniões e nunca se manifestou contra ou a favor de qualquer tema econômico ou político. Tal diversidade é salutar para o sistema como um todo e é, sem dúvida, um exemplo de mídia democrática. Entretanto, como a extinção da TV Bloomberg vai beneficiar as remanescentes ninguém está nem aí com a saída da rede de TV mais importante sobre mercado

Call # 1 : Long Position in the Germany’s Stock Index - DAX

The loose fiscal policy announced by Donald Trump, increasing expenditures and cutting taxes, will increase the US public deficit and will require an increase in the supply of bonds by the Treasury, that will steepen the yield curve in the USA. This policy would be implemented in an economy that is close to full employment, with little or no slack, with obvious inflationary consequences. This, in turn, would lead to a tighter monetary policy by the FED, as announced yesterday . The increase in US interest rates, combined with an accommodative monetary policies in most of the G7 countries, is leading to an appreciation of the dollar. Besides that, we can observe positive impacts on economies highly dependent on exports like Germany. For all the above reasons, we believe that the DAX index will reflect this and so our call is a long position today at the level of 11.300 points. google-site-verification: google335dc6155af33b93.html

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Happy Fourth of July!!!!!!!!

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