Europe

I mean to ask how deep the downturn in your country was. On Tuesday, Martin Wolf had a good graphic on this. The upshot of his analysis is that while US GDP growth compares favourably to Japan and Western Europe, its unemployment compares…

Dollar mixed vs. majors ahead of ECB decision; signal for 25 bp hike in July widely expected. Negotiations on second Greece aid program continue; talks could drag on for weeks. NZD outperforms on hawkish RBNZ statement, AUD underperforms on…

German Finance Minister Schaeuble wrote a letter earlier this week to the ECB, IMF and euro zone finance ministers that appears to be putting the proverbial cat among the pigeons. The latter has been leaked to the press. He seems to be…

Dollar, yen and Swiss franc broadly higher; sentiment deteriorates after Bernanke’s speech. Euro trips ahead of $1.47 amid concerns over Greece’s package and soft German IP. Brazil and Poland both expected to hike by 25bps; Brazil’s…

ECB intransigence leaves little alternative to breakup. Europe’s payments-surplus nations are waging financial war against the deficit countries. Without a common union based on mutual support within a mixed economy – one capable of…

Chandler: Many people in the market have concluded that new Greek aid is a done deal. The EU/IMF/ECB concluded their review before the weekend and it is expected to lead to Greece being able to draw down its next tranche of aid under the…

There is unlikely to be a dramatic market reaction to the Portuguese election results. The news stream from Greece is seen as more important.

The US dollar is mostly firmer across the board ahead of NFP; equities and commodities softer. US NFP to determine cyclical tone ahead of quiet week; USD/JPY & USD/CHF likely to decline. UK PMI ebbed, euro zone PMIs revised higher;…

Niels Jensen clears up a number of common misconceptions about the macroo environment which whave great importance for investing.

Greece and Ireland have become the litmus test for whether economies will be sacrificed in attempts to pay debts that cannot be paid. An interregnum is threatened during which the road to default and permanent austerity will carve out more…