WGR Werk, Geldzaken, Recht en de Beurs
Hier kun je alles kwijt over sollicitaties, werksituaties, belastingen, (handelen op) de beurs, hypotheken, beleggingen en salarissen, arbeidscontracten of geschillen met je (huis)baas. Alles over werk, geldzaken en recht dus.
And beneath it is all is the creeping realization that the Fed's most recent global bailout action with the ECB, the SNB, the BOJ and the BOE does not start for another 20 days, or October 12, 2011. That's right: three weeks in which there is nothing in place to provide the much critical trillions of dollar that every bank in the world so desperately needs. We wish Europe all the best in pretending for 20 days that it can survive on its own, even as Greece is about to become the riotcam's favorite destination once again.
ECB Announcement:
15 September 2011 - ECB announces additional US dollar liquidity-providing operations over year-end
The Governing Council of the European Central Bank (ECB) has decided, in coordination with the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank, to conduct three US dollar liquidity-providing operations with a maturity of approximately three months covering the end of the year. These operations will be conducted in addition to the ongoing weekly seven-day operations announced on 10 May 2010. The schedule for these additional operations is as follows:
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Veel EU Banken doen op dit moment vrijwel geen interbancaire zaken meer (vertrouwen = 0) of zitten al in het afvoer putje. Zal me niet verbazen dat er iets gaat gebeuren binnen 4 weken.
ECB Announcement:
15 September 2011 - ECB announces additional US dollar liquidity-providing operations over year-end
The Governing Council of the European Central Bank (ECB) has decided, in coordination with the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank, to conduct three US dollar liquidity-providing operations with a maturity of approximately three months covering the end of the year. These operations will be conducted in addition to the ongoing weekly seven-day operations announced on 10 May 2010. The schedule for these additional operations is as follows:
| 1 2 3 4 | Tender date Settlement date Maturity date 12 October 2011 13 October 2011 5 January 2012 9 November 2011 10 November 2011 2 February 2012 7 December 2011 8 December 2011 1 March 2012 |
Veel EU Banken doen op dit moment vrijwel geen interbancaire zaken meer (vertrouwen = 0) of zitten al in het afvoer putje. Zal me niet verbazen dat er iets gaat gebeuren binnen 4 weken.
Het zal me niks verbazen als het allemaal wel mee valt eigenlijk. Maar goed, we gaan het zien. We gaan iig flink down, down down met de beurzen
Cautious Traders To Bid Up Dollar With Swiss Franc Sidelined
-Coming safe-harbor flows favor the dollar, which rallies vs yen on SNB move
-Swiss move likely validates Japanese officials' own intervention
-SNB expected to convert massive amount of euros into dollars
NEW YORK (Dow Jones)--With the Swiss National Bank acting Tuesday to undermine the Swiss franc's role as a refuge from financial turmoil, the U.S. dollar may regain its traditional status as a global safe haven.
If traders do return to the dollar as a haven, they might do so begrudgingly--after all, the beleaguered greenback continues to earn close to zero interest rates and is prone to the risk of more monetary stimulus from the Federal Reserve. But with the SNB declaring its intent to prevent the euro from falling below CHF1.20 against the franc, market participants who are fearful of a breakdown in the euro zone might find the dollar is their only hope.
Indeed, the dollar rallied Tuesday on the SNB news. It rose 0.7% against the euro on the day and gained 1% against the yen.
"The SNB has taken the Swiss currency out of the mix, and you are really down to two safe havens now, the dollar and the yen," said Andrew Busch, global foreign exchange strategist at BMO Capital Markets in Chicago. Busch believes that the yen will lose badly in that match.
The Swiss move validates Japanese officials' own efforts to artificially prop up the dollar against the yen, Busch said, noting that the dollar has only traded below the Y76.50 level once since the last round of intervention to weaken the Japanese currency in early August. The dollar's resilience suggests a desire among traders not to grind the dollar lower for fear of more Japanese intervention in what could be an escalating global currency war.
The underlying appeal of the dollar at such times is the same reason why it has attracted haven-seeking inflows in the past: It is the world's undisputed primary reserve currency, courtesy of a giant, high-turnover pool of U.S. government bonds. On that basis, Nomura Securities ranked it at the top of a list of safe-haven currencies published on Monday, after which it ranked, in succession, the yen, the euro, the U.K. pound and the Swiss franc.
And since the SNB's euro floor will force it to build an unprecedented level of euro foreign exchange reserves, there is likely to be a big flow into dollars as it transfers those euros into U.S. assets. This would amount to prudent diversification of reserves, said Steven Englander, head of G-10 strategy at Citigroup in New York.
In total, the SNB could need between $500 billion and $1 trillion in foreign currency purchases as it commits to keep the euro above CHF1.20, Bank of Tokyo-Mitsubishi UFJ strategist Derek Halpenny estimated Tuesday.
There is some speculation that large amounts of that money will move into smaller European currencies, such as the Norwegian krone and Swedish krona. But such currencies are too small to be attractive as safe havens, where a large holder of the currency could essentially become the market, said Englander.
The one risk to increased dollar-positive flows is that posed by the prospect of the Federal Reserve enacting another dollar-diluting stimulus program to pump up the U.S. economy. If that comes to pass, the search for a single currency safe haven will become even more difficult.
-Coming safe-harbor flows favor the dollar, which rallies vs yen on SNB move
-Swiss move likely validates Japanese officials' own intervention
-SNB expected to convert massive amount of euros into dollars
NEW YORK (Dow Jones)--With the Swiss National Bank acting Tuesday to undermine the Swiss franc's role as a refuge from financial turmoil, the U.S. dollar may regain its traditional status as a global safe haven.
If traders do return to the dollar as a haven, they might do so begrudgingly--after all, the beleaguered greenback continues to earn close to zero interest rates and is prone to the risk of more monetary stimulus from the Federal Reserve. But with the SNB declaring its intent to prevent the euro from falling below CHF1.20 against the franc, market participants who are fearful of a breakdown in the euro zone might find the dollar is their only hope.
Indeed, the dollar rallied Tuesday on the SNB news. It rose 0.7% against the euro on the day and gained 1% against the yen.
"The SNB has taken the Swiss currency out of the mix, and you are really down to two safe havens now, the dollar and the yen," said Andrew Busch, global foreign exchange strategist at BMO Capital Markets in Chicago. Busch believes that the yen will lose badly in that match.
The Swiss move validates Japanese officials' own efforts to artificially prop up the dollar against the yen, Busch said, noting that the dollar has only traded below the Y76.50 level once since the last round of intervention to weaken the Japanese currency in early August. The dollar's resilience suggests a desire among traders not to grind the dollar lower for fear of more Japanese intervention in what could be an escalating global currency war.
The underlying appeal of the dollar at such times is the same reason why it has attracted haven-seeking inflows in the past: It is the world's undisputed primary reserve currency, courtesy of a giant, high-turnover pool of U.S. government bonds. On that basis, Nomura Securities ranked it at the top of a list of safe-haven currencies published on Monday, after which it ranked, in succession, the yen, the euro, the U.K. pound and the Swiss franc.
And since the SNB's euro floor will force it to build an unprecedented level of euro foreign exchange reserves, there is likely to be a big flow into dollars as it transfers those euros into U.S. assets. This would amount to prudent diversification of reserves, said Steven Englander, head of G-10 strategy at Citigroup in New York.
In total, the SNB could need between $500 billion and $1 trillion in foreign currency purchases as it commits to keep the euro above CHF1.20, Bank of Tokyo-Mitsubishi UFJ strategist Derek Halpenny estimated Tuesday.
There is some speculation that large amounts of that money will move into smaller European currencies, such as the Norwegian krone and Swedish krona. But such currencies are too small to be attractive as safe havens, where a large holder of the currency could essentially become the market, said Englander.
The one risk to increased dollar-positive flows is that posed by the prospect of the Federal Reserve enacting another dollar-diluting stimulus program to pump up the U.S. economy. If that comes to pass, the search for a single currency safe haven will become even more difficult.
Trichet: ECB-krediet zonder beperking gereed voor banken
AMSTERDAM - De president van de Europese Centrale Bank Jean-Claude Trichet zegt dat de ECB 'gereed staat' om banken zonder beperkingen krediet te verlenen.
Dat meldde hij vrijdagavond in Washington.
Trichet waarschuwde daarbij voor besmetting van de eurocrisis naar andere regio's als politieke leiders en overheden niet snel ingrijpen.
Het gebrek aan snelheid en hervormingen raakt de financiële stabiliteit. De systeemrisico's, aldus de topman, zijn aanzienlijk toegenomen.
De ECB zou volgens Royal Bank of Scotland zijn rente aan banken in oktober nog eens verlagen om de kredietverlening op peil te houden.
De Europese Centrale Bank zou verdere maatregelen kunnen overwegen om de liquiditeit van Europese Banken te versterken.
Bestuurder Ewald Nowotny van de ECB zei vrijdag dat een kredietfaciliteit die bij de financiële crisis van 2009 werd gebruikt in ere hersteld zou kunnen worden.
,,Tijdens de financiële crisis maakten eenjarige leningen deel uit van de instrumenten die wij hanteerden. Ik denk dat het verstandig is om te kijken of deze aanpak opnieuw kan worden geïntroduceerd'', aldus Nowotny.
Ook de president van de Duitse Bundesbank, Jens Weidmann liet vrijdag doorschemeren dat de ECB bereid was om de banken verder te ondersteunen.
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AMSTERDAM - De president van de Europese Centrale Bank Jean-Claude Trichet zegt dat de ECB 'gereed staat' om banken zonder beperkingen krediet te verlenen.
Dat meldde hij vrijdagavond in Washington.
Trichet waarschuwde daarbij voor besmetting van de eurocrisis naar andere regio's als politieke leiders en overheden niet snel ingrijpen.
Het gebrek aan snelheid en hervormingen raakt de financiële stabiliteit. De systeemrisico's, aldus de topman, zijn aanzienlijk toegenomen.
De ECB zou volgens Royal Bank of Scotland zijn rente aan banken in oktober nog eens verlagen om de kredietverlening op peil te houden.
De Europese Centrale Bank zou verdere maatregelen kunnen overwegen om de liquiditeit van Europese Banken te versterken.
Bestuurder Ewald Nowotny van de ECB zei vrijdag dat een kredietfaciliteit die bij de financiële crisis van 2009 werd gebruikt in ere hersteld zou kunnen worden.
,,Tijdens de financiële crisis maakten eenjarige leningen deel uit van de instrumenten die wij hanteerden. Ik denk dat het verstandig is om te kijken of deze aanpak opnieuw kan worden geïntroduceerd'', aldus Nowotny.
Ook de president van de Duitse Bundesbank, Jens Weidmann liet vrijdag doorschemeren dat de ECB bereid was om de banken verder te ondersteunen.
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Doorstarten dan maar.
Met de Yen zijn ze aan het kloten.quote:Op vrijdag 23 september 2011 10:06 schreef Drugshond het volgende:
Het is eigenlijk het startsein voor een kleine valutacrisis.
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