default

The austerity regime being adopted throughout Europe, by surplus and deficit countries alike, amid deleveraging, begs the question of where will aggregate demand come from? Moreover, iIf Greece can lower its debt burden by transferring some…

Last April I said that unless we see a multi-year recovery economy in which the nagging debt and default issues are entirely removed, economic nationalism will return with a vengeance. And that means political conflict in which the…

This is the reaction to the latest austerity measures proposed for Greece.

Marshall Auerback suggests the Troika's goal in the Greek deal is to make the deal so miserable for the Greek people that the Spanish, Portuguese, Irish and Italians don't even begin to think of trying to get a similar haircut on their…

Concerns over the Greek deal have seen the dollar move higher against most of the majors and EMs EuroStoxx 600 is off its lows but down 0.4%, bank shares down 1.7%; S&P 500 futures down 0.6% Safe have securities are rallying with…

The dollar is extending its recent losses on hopes that Greece is inching closer to a deal that would ensure the next bailout payment, though the major currencies remain in relatively tight ranges.

Great data from Bespoke. Looks like Portugal is the odd man out as the only government in which its CDS spreads have widened this year.

Given market positioning and the anticipated long-term repo operation at the end of the month, it is tempting to see this move above $1.3250 as a breakout. Is it a breakout?

The decision for Europe’s bosses is this: they must ultimately confront the consequences of their policy choices. They can destroy the eurozone by continuing with the same failed mix of policies or by salvaging it by adding what has been…

This is how it's going down in Greece right now. The sentiment is very Anti-German on the eve of the austerity/bailout decision. The debt haircut and writedowns coming of upwards of 50% is a default in everything but name. Technical default…