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Fund Manager Survey Shows Global Recession Fears On Rise
Last Update: 8/13/2008 9:03:24 AM
By Sarah Turner
More fund managers now believe that the global economy will enter into recession,
according to Merrill Lynch’s fund manager survey for August.
The survey of 193 asset allocators managing $611 billion in assets found that a
net 3% believe that a global recession is [...]

WASHINGTON (MarketWatch) - The U.S. economy was squeezed further by the credit crunch in the past three months, and most banks expect to keep a lid on credit for the next year at least, the Federal Reserve reported Monday. A record percentage of banks were making it more difficult for borrowers in the three months [...]

BOSTON (MarketWatch) — Massachusetts Secretary of the Commonwealth William
Galvin has filed a complaint against Merrill Lynch & Co. related to the sale of
auction-rate securities, the market for which blew up during the credit crunch.
Among other things, the complaint alleges Merrill co-opted its research
department “to assist in sales efforts geared towards reducing its inventory of
auction-rate securities.” [...]

LONDON (MarketWatch) — Gary Stern, president of the Federal Reserve Bank of Minneapolis, believes the credit crunch will continue for several quarters and could still get worse, according to an interview with the Financial Times newspaper. Stern said that with its core interest rate at 2%, the Fed is well-placed to cope with further weakness [...]

UPDATE:Morgan Stanley Earnings Reignite Financial Firm Fears
Last Update: 6/18/2008 12:40:41 PM
(Updates with additional investor comment and fresh CDS and CDX levels)
By Kate Haywood
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–The cost of debt protection for Morgan Stanley (MS) moved
wider Wednesday after the investment bank unveiled a 60% slump in second-quarter
profit, reaffirming fears about financial firms.
Five-year senior [...]