Wall Street Media presents an exclusive video of Rich Gordon, the highly regarded Fixed Income Market Strategist of Wells Fargo Securities (NYSE: WFC), on the effects and implications of Ireland's bailout package. Gordon discusses the undesirable effects that the bailout is having on the bonds market, noting that the Irish 10 year bonds continue to tumble to new lows. Investors are unhappy with the package not only because it is too small and took too long, but there is a broader problem at hand, one that is not isolated to Ireland alone. This is the EU's second intervention on behalf of one of its members as we saw this with Greece earlier in the year. It appears inevitable that the Euro will continue to weaken against the world's major currencies. To make matters worse for investors, the EU's rather apathetic reaction to the debt problem in Ireland doesn't quite give motive for great risk-taking. Surprisingly, over 20% of the package of support is coming out of Ireland's already depleted internal funds. This has angered the Irish people, and provides a dismal glimpse of how any similar situations (i.e. Spain, Italy) would be handled in the future. Furthermore, Gordon maintains that investors continue to stay short of underweight of the euro in the immediate term. For more on what this means for investors, view the video below.
Please visit the following link to view the video:
http://wsmco.com/show.aspx?1728_Ireland's_Bailout_Package
BlackRock Kelso Capital Corporation (Nasdaq: BKCC) is the subject of our latest show. Please visit the following link to view today's video:
http://wsmco.com/show.aspx?1729_BKCC%3a_Looks_Good_Right_Now
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