2011

Below is a PDF copy of the Portuguese Memorandum of Understanding for the EU - IMF bailout. Portuguese interest rates have fallen somewhat on the news of the bailout, to the lowest levels in fifth months.

Is there a viable currency to replace the US dollar when over-leverage, economic imbalances and consequent money printing ultimately lead to an overwhelming decline in confidence in the dollar as a store of value?

The euro continues to surge this morning, trading ahead of $1.49, despite some US short covering against some of the majors and a mixed tone in risk appetite, buoyed by a combination of drivers. For one, many see the risk premium in the…

A year later, the waters are still murky, but a few things are starting to become clear. For energy investors, the most important aspect of the disaster was the moratorium on deepwater drilling in the Gulf. That ban was lifted in late…

Despite pumping trillions of yen into the economy over the last decade, Japan's M3 money stock is no higher now than it was at the beginning of the last decade as the private sector has deleveraged.

There are essentially three reasons why I think oil prices will go through a rather dramatic correction over the next several years: 1. Many investors who, in recent years, have added commodities to their portfolios as a hedge will…

The following is the second in a series of posts by QB Partners on the dollar standard monetary system. The first post is available for review at Credit Writedowns. In section 1, we tried to lend perspective to the current global monetary…

Bill Gross: Low policy rates and the increasing negative real yields that they engender as inflation accelerates represent an immediate threat to investment portfolios. Bond prices don’t necessarily have to go down for savers to get skunked…

The euro is struggling to extend its advancing streak to the eleventh session. However, the main driver, of divergent monetary policy stances remains intact. In fact, news today that 3-month Euribor is at 2-year highs and 3-month Libor was…

With the arrival of the first real Japanese data since the Tsunami struck the immensity of the tragedy which Japan is passing through is only now gradually becoming apparent. Exports were down by a seasonally adjusted 7.7% in March over…