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Lots of Bad News Today: Europe, Asia, Jobs ... All Bad

So much for TGIF: all economic reports today were either disappointing or just plain bad.

First, people in Spain are taking their money out of local banks and putting them overseas. It’s similar to what the Greeks did a couple weeks ago - or was it a month? Either way, it’s not good.

 

Bund, Treasury, Gilt Yields Drop to Records as Euro Crisis Grows

German, US and UK yields fell to all-time lows after Spanish Economy Minister Luis de Guindos said the future of the euro is at stake, driving demand for the safest government securities.

 

Weakness in China, turmoil in Europe hobble world markets

World Markets

Concerns over a slowdown in the world's biggest economies hit world markets on Friday, with weak indicators out of China and Europe's financial turmoil unsettling investors ahead of a crucial U.S. jobs report.

 

India’s Economy Struggles After Big Hopes

Indian Economy

India’s problems have dampened hopes that it, along with China and other non-Western economies, might help revive global growth.

 

Spanish debt costs spiral as crisis deepens

Spanish Debt

Spanish 10-year borrowing costs neared the 7 percent danger level and Bankia shares hit record lows on Monday after the government, struggling to sort out its finances, proposed putting sovereign debt into the struggling lender.

 

China factory data signals weak first-half growth

China's factories faltered in May as export orders fell to two month lows, a private sector survey showed on Thursday, suggesting surprise weakness in April's hard economic data persists even as policymakers seek to shore up growth.

 

Germany, France draw battle lines over eurozone bonds

Germany dismissed a French-led call for euro zone nations to issue common bonds, a day before a European Union leaders' summit which investors are looking to for new measures to counter the bloc's debt crisis.

 

Greek Euro Exit By Numbers: What Economists Expect

As the prospect of Greece leaving the euro becomes more real by the day, economists are trying to figure out what would happen next, to the economy and to the markets.

 

Obama, other G-8 leaders push economic growth over austerity

President Obama and leaders of the world’s other leading economies Saturday embraced a policy of growth over austerity in Europe as they met on the cloistered grounds of Camp David to talk about fending off a spread of the Eurozone crisis.

 

G-8 leaders agree to promote economic growth

Leaders of the world's major economic powers agreed Saturday to do whatever is needed to "strengthen and invigorate" their economies.

 

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