This morning, Treasury Secretary Henry Paulson delivered an update on the state of the global financial system, the US economy and the implementation of the financial rescue package Congress approved just last month. While much of his prepared speech was

Now that the full details regarding the Fed's new plan for AIG have come to light, the only conclusion one could draw from this is that the Fed is a really bad trader. Really bad. When its statement regarding the

The London session was relatively quiet for most of the majors. EUR/USD was a touch lower to around 1.2590/95 as Euro-zone industrial fell to a lower than expected annual rate of -2.4% in September from -0.7% the prior month. JPY

The pound has fallen to new records against the euro and new multi year lows against the dollar after BOE's inflation report stated that not only the country has fallen to recession in the last quarter but the inflation seems

The greenback has displayed mixed price action during the New York morning among the major pairs. USD/CAD remains bid on the back of the lower trend in oil prices as front-month NYMEX crude posts fresh 20-month lows. In addition, the

Following the Bank of England's quarterly Inflation Report, in which they revised both their growth and inflation forecasts signficantly lower, Credit Suisse overnight index swaps have shifted to almost fully price in a 50bp rate cut by the BOE during

When the Bank of England cut interest rates by 150bp last week, I turned aggressively bullish EUR/GBP on the belief that interest rates are headed below 2%. The currency pair has now hit a record high as the market realizes

The US dollar held its ground against the euro, but weakened against the yen due to risk aversion as concern over a deepening global credit crisis weighed on investors. The US currency also remained under pressure as Treasury Secretary, Henry

With not much action from the US economy today as the calendar remains fundamental free, we see technical movements controlling markets alongside the ongoing fear from a global recession that is increasing day after day. As investors lose their risk

Confidence will remain very fragile in the short term which will limit the scope for net Australian dollar gains, but there is scope for underlying net gains against the US currency. The Australian dollar was subjected to renewed selling pressure

ZERO INTEREST RATE POLICY (ZIRP) seems to be in the works amongst a whole host of central banks we know and love. But haven't we seen this movie before? And doesn't it end badly? Japan applied ZIRP to extricate itself

Jobless claims in the U.K. increased 36.5K to 980,900 in October to reach its highest level since 2001, while last month’s reading was revised higher to 36.3K from an initial reading of 31.8K. In addition, the ILO unemployment rate ticked

Recent buyers in these 10 spots owe more on their mortgages than their homes are worth.

New programs may help some troubled borrowers, but they won't restart the housing market.

Cisco's miss is a virus likely to spread not just throughout the tech sector but everywhere.

It's my duty to lead people to safety, whether the danger is a stock market collapse or a burning jumbo jet.

The Treasury program isn't going to snap up illiquid assets as intended.

The global unwind continues this morning with US equities, commodities and currencies taking another beating. The US dollar and Japanese Yen continue to outperform with the British pound hitting a fresh 5 year low. The story is still the same,

The Bank of England, like Australia's central bank, has reduced its key rate by 200 basis points since September. In fact, the BOE accomplished such in just two steps of 50 basis points in October and 150 basis points to

The Reserve Bank of Australia was hesitant about easing monetary policy with inflation still cresting. That central bank made its final two hikes during 1Q08 of a multi-year, 300-basis point tightening, and the resulting 7.25% cash rate was maintained for