Professional Documents
Culture Documents
• The International Air Transport Association (IATA) estimated that the Icelandic volcano crisis cost
airlines more than $1.7 billion in lost revenue through Tuesday, six days after the initial eruption. For a
three‐day period, when disruptions were greatest, lost revenues reached $400 million per day.
• The IMF/World Bank Spring meeting is being held later this week in Washington and the IMF rolled
out its proposal for country’s to tax their banks. FT
• In Europe, Greece talks w/officials from the EU & IMF kicked off as expected and according to DJ, “a
senior Greek gov’t official said it was becoming increasingly apparent that Greece would have trouble
raising the money it needs from int’l capital markets.” (recall on Mon the WSJ crossed an article
mentioning how Weber had fears that Greece assistance could be larger than anticipated ‐ DJ).
Yield on Greece 5 Year Benchmark Bond
Recall that as the yield goes up, that means the value of their bonds goes down. The resumption of rising
yields means that investors have been dumping Greek bonds (and/or buying protection against default).
• GS – Blankfein to appear before Congress next week ‐ Blankfein has accepted an invitation to testify
Tuesday before the Senate Permanent Subcommittee on Investigations (NY Post)
• IMF cuts its forecast of financial writedowns by $500B, from $2.8T to $2.3T – London Times – buried
beneath volcanoes, financial regulations, Goldman and Greece, is this nice little bit of positive economic
data.
• AAPL – in addition to earnings, a survey has found that men w/iPhones are more attractive to
women than their counterparts who don’t use the Apple device (Bloomberg)