Browsing Tag

currencies

Marginalization of Western Europe

US money markets have dramatically cut their exposure to European bank paper. This has been widely reported and has intensified the dollar funding needs of some European, especially French and Italian banks. When we talk about European…

Euro and S&P 500 Correlations Revisited

As of yesterday the 60-day correlation stands near 0.78 and the 30-day correlation has fallen from 0.81 in the middle of last month to 0.65. This gives additional evidence of some fracturing of the risk-on/risk-off rubric that has been such…

Euro and S&P 500 Correlations Revisited

As of yesterday the 60-day correlation stands near 0.78 and the 30-day correlation has fallen from 0.81 in the middle of last month to 0.65. This gives additional evidence of some fracturing of the risk-on/risk-off rubric that has been such…

Correction Tuesday?

China's slew of economic data came in better than expected this coupled with successful bill auctions by Spain, Greece and Belgium and a very strong German ZEW (-21 v -53.8) is rekindling the appetite for risk today. The euro is up over a…

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