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European crisis spurs flight to safety

Posted By admin On September 12, 2011 @ 8:20 am In Featured Stories | Comments Disabled

Reuters [1]
Sept 12, 2011

Fears of a Greek default and credit contagion ripped through markets Monday, tumbling European shares to their lowest in more than two years and the euro to a seven-month low against the U.S. dollar.

Concerns that Moody’s Investors Service could downgrade the credit-worthiness of French banks and the lack of a solution to Greece’s debt problem undermined investor confidence and the appetite for risk.

Safe-haven buying briefly pushed yields on benchmark U.S. Treasury 10-year notes to lows last seen at least six decades ago and 10-year Bund yields fell to 1.73 percent.

The euro later rebounded from its low to trade up almost 0.8 percent at $1.3673 to the dollar.

Full article here [1]

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URLs in this post:

[1] Reuters: http://www.reuters.com/article/2011/09/12/us-markets-global-idUSTRE77L0AE20110912

[2] Dollar Increases as Dubai Debt Fallout Spurs Demand for Safety: http://www.prisonplanet.com/dollar-increases-as-dubai-debt-fallout-spurs-demand-for-safety.html

[3] Euro Falls Versus Dollar as EU Prepares to Double Crisis Fund: http://www.prisonplanet.com/euro-falls-versus-dollar-as-eu-prepares-to-double-crisis-fund.html

[4] U.S. Banks Aren’t Nearly Ready for Coming European Crisis: http://www.prisonplanet.com/u-s-banks-aren%e2%80%99t-nearly-ready-for-coming-european-crisis.html

[5] Gold May Advance Toward $1,000 as Weakening Dollar Spurs Demand: http://www.prisonplanet.com/gold-may-advance-toward-1000-as-weakening-dollar-spurs-demand.html

[6] The European Debt Crisis: Will the “Weaker” Member States Leave the Euro Zone?: http://www.prisonplanet.com/the-european-debt-crisis-will-the-weaker-member-states-leave-the-euro-zone.html

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