bonds

The market lacks conviction after shrugging off the disappointing European flash PMIs last week. Even though Italian and Spanish bonds are firmer today, outperforming Germany, we detect a deterioration of conditions in Europe and are…

This daily commentary is a bronze-level post for Pro subscribers. Two articles worth reading on the 2004 change in net capital rules for investment banks are highlighted in today's links.

Kondratieff waves are these supercycles that a lot of people have been talking about in the context of the great leveraging that led to crisis in developed economies. We appear to be at the end of one of these waves in bond markets…

The dollar is trading modestly firmer against the majors in very narrow ranges, gaining some traction after the losses seen Thursday.

The US dollar is mixed after the broad dollar rally is losing steam into the North American open. The euro zone is on the back burner for now. Indeed, the recent back up in US yields over such a short time period has been astounding. Even…

Fitch Ratings released the following statement today in conjunction with their latest ratings action on sovereign debt issued by the United Kingdom.

Here is a video of my latest appearance on Capital Account with Lauren Lyster. We spoke specifically about the situation in Europe; and that means Greece in the first instance. We also talked a lot about the ECB's LTRO program which I see…

This is a gold level post. According to the US Bureau of labor Statistics, nonfarm payroll employment rose by 227,000 in February, and the unemployment rate was unchanged at 8.3 percent. Here are my thoughts on what this signals about the…

In an entirely fraudulent paper chase, the banks that borrowed LTRO money put some of it to work in sovereign carry trades. The banks have borrowed at 0.25% from the ECB and are buying sovereign bonds with much higher yields. Intesa…

Spain is on a bad course, with recognised debt about to surge rapidly, while investor confidence in the current administration is slipping. Time for another “game changer” I think, since otherwise this car is about to crash.