2011

Spain continues to be vulnerable to market stress and event risk. The already moderate growth prospects for Spain have been scaled back further. Lower economic growth in turn will make the achievement of the ambitious fiscal targets even…

Last November, in anticipation of QE2, I wrote a post called “How Quantitative Easing and Permanent Zero are Toxic To Bank Net Interest Margins”. The gist of the post was that if the ‘extended period’ for low rates was too long, net…

Look at these charts that Win Thin has crafted on sovereign bond spreads. this is what I want to discuss.

Euro zone stresses are back in the spotlight with a report on France that was issued by Moody’s late in the North American afternoon. It was not a rating action but rather an annual update on the state of the country. The agency noted that…

The good news is that we finally have the second group of indictments of senior bank officers. The prosecution involves officers of United Commercial Bank (UCB), a roughly $10 billion San Francisco bank that originally specialized in…

Die EMH, Blasen und die Geldpolitik, Teil 1 – Kantoos Economics tags: economics investing…

The special interest most people are concerned about are the banks. In the banking sector, fraud was a major contributor to the crisis. Because the White House has not prosecuted these frauds, bankers in general are now denounced as…

Municipal bondholders have something else to worry about. If Occupy Wall Street has legs, and, if labor unions handcuff the protestors' agenda ("Major Unions Join Occupy Wall Street Protest" - New York Times, October 5, 2011), will that…

Risk sentiment remains under pressure overnight; global equities lower, dollar mostly higher. European economic data continue to deteriorate; UK September inflation surges to new highs. RBA minutes point to some capacity to lower policy…

November 5th is the date of the planned action. CNBC video below