Tokyo News `First Prime Group` US Dollar Retreat, Bailout Boosts Crude
Released on: September 23, 2008, 5:26 am
Press Release Author: Peter Brice
Industry: Financial
Press Release Summary: First Prime Group Fears Government bailout wont prevent recession prompts commodity resurgence.
Press Release Body: First Prime Group are thought to believe that mounting concerns among the investment community that the $700 billion rescue package aimed at relieving the credit crisis in the USs banking system wont work is responsible for the recent resurgence in oil and precious metals prices and related stocks and the renewed pressure being brought to bear on the US dollar in global currency markets.
An industry commentator familiar with First Prime Groups analysis teams explained that doubts center on still-to-be-revealed credit-default swaps counterparty risk associated with AIG whom the Federal Reserve granted an emergency loan of $85 billion and the potential for further writedowns of the already heavily-discounted mortgage-backed securities supposedly guaranteed by them.
The initiative may, indeed, work said the First Prime Group source but its a huge gamble.
First Prime Group have advised clients take positions in defensive stocks including utilities and global oil conglomerates.
Web Site: http://www.firstprimegroup.net
Contact Details: Financal Online MWB Liverpool Street, 55 Old Broad Street London England EC2M 1RX
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