2011

This is an interview with Eclectica Asset Management’s Hugh Hendry from much earlier in the year. It is a wide-ranging interview about the global macro environment, comparisons to the 1920s, investing, money management and hedge funds.

Greece Will Eventually Leave Euro, Rogoff Says - Bloomberg European leaders’ agreement to expand a bailout fund to stem the region’s debt crisis only buys time as Greece will likely still leave the euro in the next decade,…

Here are a few excerpts from Stephen Roach’s latest at Project Syndicate.

For those of you wondering what's just happened in Europe, here is an animated explanation.

The big question–apart from how many investors they will get to go along with this, given that they couldn’t reach their target of 90% investor participation when the write-down was only going to be 21%–is whether this will trigger a CDS…

The challenge that the Irish economy faces can best be described in the context of flows and stocks of assets and liabilities. Under the Memorandum of Understanding (MoU) with the IMF/EU/ECB Troika, Ireland must implement a severe fiscal…

CDS buyers hate it, as do holders of Italian, Spanish, Irish, and Belgian bonds. Portuguese bond holders are just fine. There was no reaction in Austria, Germany and France.

It’s clear from the 1998 chart that the S&P500 was still in a major uptrend, which can’t be said of today’s market. Interestingly the 1998 20.7 percent 17-day spike started with a similar nasty bear trap. Remember, John Bull can stand…

This chart by John Kemp of Reuters tells you that speculation played a huge role in the run up in oil prices earlier this year, hugely amplifying the underlying fundamental trend. Hat tip to the FT’s Izabella Kaminska. She is right to say…

Tepco to Ask for $12B From Government: Nikkei - Bloomberg Tokyo Electric Power Co. will ask the government for 900 billion yen ($12 billion) to avoid bankruptcy, the Nikkei newspaper said, the first state support since the…