Dear PGM-Capital, blog readers, On Friday, February 22nd 2013, Moody’s Investors Service downgraded the domestic- and foreign-currency government bond ratings of the United Kingdom by one notch to Aa1 from Aaa, with a stable outlook Moody’s motivates the downgrade on the following facts: The continuing weakness in the UK’s medium-term growth outlook, with a period[…]
Dear PGM-Capital, blog readers, On Thursday February 14th 2013, British-Australian mining giant RIO Tinto (NYSE: RIO, ASX: RIO.AX, LSE: RIO.L world 3rd biggest miner by market cap, behind BHP Billiton and Vale), reported its H2-2012 and full year results. Highlights 2012 financial results: Underlying earnings of US$9.3 billion. Net loss of US$3.0 billion after impairments of US$14.4[…]
Dear PGM-Capital, blog readers. Today, January 2nd 2013, we would like to look back at 2012, and try to do some predictions for the year 2013. The year 2012, similar to 2011, will go into history as a year during which mainly the West media did their utmost to talk down the Euro, China, and[…]
As the year draws to its close, We here with want to thank you for the opportunity for us to serve you in 2012. On behalf of staff and personal of the PGM-Group we wish you and your love ones Happy Holidays We wish you a prosperous and Healthy 2013 and may the New Year[…]
News wise a very interesting start to the week, but the markets have reacted sideways up till now. In the weekend we got confirmation that the ESM and ESFS got downgraded by Moody’s from Aaa to Aa1, while maintaining a negative outlook. We had some mixed numbers out of Asia, but things got interesting when[…]
Interesting and volatile day. We have seen the US equity markets swing up and down on different news, but the US fiscal cliff discussion is starting to show its effects. In the end the US markets ended positive on President Obama’s and John Boehner comment that a solution might be near. I believe this is[…]
After last week, which has been slow due to Thanksgiving Holidays, we are starting this week in Europe by kicking the can for a third time down the road for Greece and apparently nobody seems to care anymore. Even though Greece’s bankruptcy has been averted, again, the markets are not really reacting and we are[…]
Dear PGM Capital Blog readers, This weekend, we want to talk with you about the Currency War that is currently taking place. Currency war definition: Currency War, also known as competitive devaluation, is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their own currency, in order to support their export.[…]
The markets continue its sell-off and the economic news are not getting any better. This morning Europe was officially declared to be in a recession and the problems in Greece and Spain are far from being solved. The US is trying to avoid its own big problems too, but right now they are happy to[…]
Another start to an interesting week, with Europe dominating the headlines this week with the Greece and sovereign debt issues in Europe creating lots of headwinds. We have seen the European markets and the Euro lose significant value over the past few days, but with the looming problems in the US, the Euro performed relatively[…]