Author

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Daily

Daily: The Nokia story gets worse by the day

Edward Harrison Jun 14, 2012

Daily commentary Nokia is finished in my view. It was clear before they switched to the Windows Mobile platform that their existing platform was not going to survive the onslaught from smart phones with Apple iOS and Android operating…

Members

Consequences of Syriza’s election and economic program

Edward Harrison Jun 14, 2012

Right now Syriza is neck and neck with New Democracy in Greece for the upcoming elections in Greece. So it is worthwhile to take a look at what Syriza is actually saying and what the consequences of their program would be. I have a copy of…

Political Economy

Weekly: Moving to disorderly breakup as base case

Edward Harrison Jun 14, 2012

The events surrounding Spain have caused me to throw in the towel on European policy makers. It is clear to me that the events on the ground are moving too quickly for them to adjust their policy stances enough to prevent more catastrophic…

Members

The Spanish death spiral has begun

Edward Harrison Jun 14, 2012

The situation in Spain has turned decidedly worse today. After yesterday's 3-notch downgrade by Moody's, yields on Spanish 10-year bonds are now hovering just around 7%. Credit default swaps for Spanish debt are now trading at 605 bps with…

Markets

Full text: Moody’s downgrades Spain’s government bond rating to Baa3 from A3, on review…

Edward Harrison Jun 13, 2012

"Moody's Investors Service has today downgraded Spain's government bond rating to Baa3 from A3, and has also placed it on review for possible further downgrade. Moody's expects to conclude the review within a maximum timeframe of three…

Members

Why the German government is already debating relaxing Greece’s austerity targets

Edward Harrison Jun 13, 2012

In late April, I wrote a post predicting why the EU is temporarily dropping the 3% hurdle. The gist of the post was that in the euro zone and in Europe more generally, the economy was decelerating much faster than anticipated. To get ahead…

Daily

Daily commentary: Inditex is a Spanish retail stock worth watching

Edward Harrison Jun 13, 2012

Many of Spain's largest companies are well-diversified, from Telefonica to Repsol to even banking giants like BBVA and Santander. In my view, these are quality companies negatively impacted by the headlines on Spain. For value investors…

Political Economy

Nigel Farage: The Genius of Mutual Indebtedness

Edward Harrison Jun 13, 2012

Nigel Farage isn't impressed by the Spanish bailout. Take a look

Markets

Chart of the day: Spain enters top ten for government default risk

Edward Harrison Jun 12, 2012

Spain is now ranked ninth for default probability just behind Ireland, with an expected 40% chance of default in the next five years. The Spanish 10-year bond yield has fallen back to 6.70% after reaching a record euro zone high of 6.834%…

Daily

Daily commentary: The ECB will step in soon or we will suffer another Great Depression

Edward Harrison Jun 12, 2012

The euro zone sovereign debt crisis is reaching the end of the line. Spain and Italy are both simply too big to be bailed out. Yet as we speak, the yields on Spanish and Italian 10-year bonds are soaring, Spain's reaching a record 6.807%.…

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