ECB

This is an analysis of the remaining options in the euro zone post-Ireland bailout. This period in Europe reminds me very much of the period after the Indy Mac failure in the U.S. after which markets were in a permanent state of stress.…

The ECB confirmed market talk that it had stepped up if sovereign bond purchases last week as the debt strains reached crisis levels.  The European central banks bought 1.074 bln euros vs 711 mln the prior week.  This is the most…

Unless the ECB takes fast and dramatic action, it risks destroying the currency it is paid to manage, and allowing a political catastrophe to unfold in Europe. If mishandled, Ireland could all too easily become a sovereign version of…

Below are two good videos outlining the Irish situation. For relevant background info see CW posts below (the last one is most hopeful): Ireland: Next stop – IMF, October 2009 How Does Irish Banking Play Out? Chart of the day:…

Highlights The dollar weakness after the FOMC gave way to a pretty steady and small trading range through the Asian session.  But the dollar experienced a sharp selloff in the European session as investors further increased their…

A couple of ECB officials have indicated that when the extraordinary liquidity provisions expire at the end of the end of the year, they will not be renewed.  Officials drew comfort in the recent news that the stock of bank loans…

Highlights The US dollar is trading narrowly mixed against most of the major currencies ahead of the FOMC meeting. The euro’s recovery, after disappointing price action late Friday and yesterday, has brought it back to within striking…

Unlike Mr. Market who seem to be in full risk-on mode at the moment I am a bit handicapped on account of an awfully slow internet connection which is why posting is unusually slim at the moment. Another part of the market which seems to be…