Category Archives: Business

Italian GDP Contracts –

Posted on 21. December 2011 by Jim Sutliff

Italian third quarter Gross Domestic Product has fallen 0.2% from the second quarter.  This may mark the fifth recession for the Italian economy since 2001.  Although exports grew 1.6%, consumer spending declined 0.2% and investment contracted 0.6%.  In addition, Italy has taken steps … Continue reading →

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Payroll Tax Cut Extension –

Posted on 17. December 2011 by Jim Sutliff

The Senate passed a two month extension of the payroll tax cut.  On Saturday, the measure passed the Senate with a vote of 89-10.  The payroll tax cut amounts to a two percent drop from 6.2% to 4.2%.   An increase in fees … Continue reading →

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Euro Trades Lower –

Posted on 14. December 2011 by Jim Sutliff

The Euro fell below $1.30 in afternoon trading on Wednesday.  The Euro has not traded below $1.30 since mid-January of this year.  Traders are watching Standard & Poor’s for any indications of sovereign debt downgrades.  France is one of the … Continue reading →

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Budget Deal –

Posted on 12. December 2011 by Jim Sutliff

Republican and Democratic officials have agreed on a spending bill through October 1st 2012.  Specific details of the agreement are expected to be released on Tuesday.  The measure still requires approval of the Senate and the House of Representatives.  The current spending bill … Continue reading →

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Payroll Tax Bill Blocked By Senate –

Posted on 8. December 2011 by Jim Sutliff

A measure supported by the Democrats that would cut the payroll tax was blocked in the Senate.  The bill only received 50 votes and needed 60 votes to move forward.  The payroll tax on the first $110,100 would have fallen to 3.1% from … Continue reading →

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S & P May Downgrade Euro Nations –

Posted on 5. December 2011 by Jim Sutliff

Standard & Poor’s indicated that 15 Euro nations may face a downgrade of their debt.  Germany and France are two of the six Euro nations that could lose their AAA rating.  As a result, the Euro fell in afternoon trading. To … Continue reading →

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Belgium Downgraded –

Posted on 25. November 2011 by Jim Sutliff

Standard and Poor’s downgraded Belguim debt to AA.  The downgrade forced the 10 year yield to 5.832% in Friday trading.  Belgium debt started the week trading at 4.817%. To read a related Reuters article, please click here: http://www.reuters.com/article/2011/11/25/us-belgium-sp-idUSTRE7AO1F220111125 James Sutliff

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ECB Italian Bond Purchases –

Posted on 5. November 2011 by Jim Sutliff

The European Central Bank is discussing the possibility of halting Italian bond purchases.  European Central Bank officials are determining if the Italian government is following through with the changes it promised the European Union.  The bond buying program by the ECB has … Continue reading →

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Greek Referendum Plan –

Posted on 1. November 2011 by Jim Sutliff

The Prime Minister of Greece surprised the financial markets by calling for a referendum on the bailout plan.  Prime Minister George Papandreou has suffered a loss of some support in his party.  The call for a referendum has sent the Euro and … Continue reading →

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S & P Downgrades Spain; Barcelona –

Posted on 18. October 2011 by Jim Sutliff

Standard & Poor’s cut the debt rating for Barcelona to AA- with a negative outlook.  The downgrade was expected after Standard & Poor’s cut the sovereign debt rating for Spain.  Debt for Spain and Barcelona can expect another downgrade if economic conditions do … Continue reading →

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Europe Plan Gains Support –

Posted on 16. October 2011 by Jim Sutliff

Global finance chiefs are showing support for a plan to address the European sovereign debt crisis.  A more complete plan may be presented by the October 23rd summit in Brussels. The plan is expected to include writing down as much as 50% … Continue reading →

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Senate To Vote On Currency Bill –

Posted on 11. October 2011 by Jim Sutliff

The Senate voted 63-35 in support of the currency bill.  The currency bill was supported by Republican and Democratic Senators and is hoped to address the trade imbalance due to undervalued currencies.  Although the Senate supported the measure, the House … Continue reading →

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Moody’s Downgrades Italian Debt –

Posted on 4. October 2011 by Jim Sutliff

Moody’s downgraded Italian government debt from Aa2 to A2 with a negative outlook.  Moody’s cited the increase in long-term funding risks for Euro nations with high levels of debt.  Also, the weak global economic outlook was part of the rationale for … Continue reading →

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Currency Legislation –

Posted on 27. September 2011 by Jim Sutliff

Democratic Senator Harry Reid has indicated that he will introduce legislation relating to undervalued currencies.  The measure will address the effect that undervalued currencies have on trade.  The Chinese Yuan is one currency that is considered  to be undervalued and acting as a subsidy to … Continue reading →

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Treasury Yields Fall –

Posted on 21. September 2011 by Jim Sutliff

Treasury yields for 30 year bonds fell below 3% for the first time since 2009.  The Federal Reserve announced that it will purchase long term debt and sell shorter term debt in an attempt to spur economic growth.  It is expected … Continue reading →

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