2011

Credit Writedowns started in March 2008. When I got into blogging three years ago, I was using it as a way to hone my thinking about the subjects which most interested me and most affected me in my professional life. I never really intended…

So how do we explain the European crisis? One theory is that the European crisis was caused by the moral turpitude and spendthrift habits of lazy Europeans along the periphery, in sharp contrast to the hard-working and thrifty countries of…

Europe's rescue fiasco leaves Italy defenceless - Telegraph The sixty days allotted to save monetary union have expired. The G20 has come and gone, yet no workable firewall is in place as the drama engulfs Italy and…

European shares have given back early morning gains as Berlusconi denies resignation reports. Market attention will remain focused on political developments in the euro zone; Italy likely to overshadow Greece now. Light US data is likely to…

That’s what Philipp Rösler, the leader of the junior partner in Germany’s coalition government, is saying. Barry Eichengreen says that this kind of talk is counterproductive.

Now, this could just be bluster and rhetoric. But then again it may be something else. I think it bears watching. Just following up on the post by Global Macro Monitor this morning, I note from French daily L’Express the following passage.

Let’s talk about credible government bond backstops for a bit.

A breakdown of Friday's numbers with net loss and gain by key industry.

What do you think: is the Fed part of the problem or part of the solution?

Here is something brewing off radar. We’re wondering if this is a factor as to why crude is bid and gold is coming back?