currencies

My friend Lars Schall sent me this link. I think you have to put this in context by looking at what Der Spiegel was saying about a Greek exit. What is clear is that the taboo that Angela Merkel broke in responding to the proposed Greek…

This sounds like hearsay to me, but I wouldn’t be telling you about it if I didn’t believe it was credible.

Paul Krugman show he understands the sovereign debt crisis.

The foreign exchange is calmer. Equity markets are generally higher. Global bond markets are also quieter today.

Germans really are sceptical of the euro and many miss the days of the Deutsche Mark. I think Merkel is trying to make the case for why the German people have never been given a direct vote on any major euro area decision. No one wants…

The German Christian Democrats hold a party congress next weekend. There are a number of proposals that members are trying to get incorporate into the party position and platform. One such proposal is to give the national central banks…

European stocks, Italian bonds and the euro are rebounding after Italy’s BTP auction and ECB containment strategy. European political uncertainty remains dominant driver; Australia employment better than expected. Bank of Indonesia…

Markets have shifted back to crisis mode amid uncertainty over Italian economic reforms. Three likely scenarios remain after Berlusconi’s upcoming departure; Italian 10-year above 7%. UK September trade data unexpectedly widened, on…

Given the poor track record of intervention, unilateral or multilateral, sterilized or unsterilized, there may be no compelling need to understand why the $100 bln intervention is not sticking. All sorts of possible explanations seem partly…

European shares are rebounding after a two-day decline; dollar is mostly higher in G10. Italian politics remains front and center ahead of budget vote; UK outlook remains sluggish. With US calendar light, markets likely to focus on Fed…