Europe

Almost a week before S&P’s move, Fitch cut the outlook for China’s yuan debt to negative from stable. Media coverage was almost non-existent and there has hardly been any commentary. Frankly, most observers don’t even seem to know it…

Dollar selling resumes as equities and commodities recover after US employment report Euro moves back near $1.44 after EU officials discussed further aid to Greece Dollar likely to remain on back foot this week; Growth currencies likely…

The unscheduled meeting between several euro zone finance ministers, Eurogroup head Juncker, EU Monetary Affairs Commissioner Rehn, ECB President Trichet and a few other senior officials was important. It marks the official recognition that…

It bears remembering that the German banks are very exposed to the periphery as we contemplate the Spiegel article on Greece's alleged desire to defect from the euro zone.

The euro took another leg lower in thinned afternoon North American markets after Der Spiegel online reported that Prime Minister Papandreou is contemplating a Greek exit from the euro zone and that the EC is calling a "confidential"…

This is my translation of an article from the German magazine Der Spiegel which says: "The debt crisis in Greece is getting worse. According to information available to SPIEGEL ONLINE, the country's government is considering leaving the…

Voters in Iceland have rejected their government’s attempt to foist on them the costs of bailing out foreign creditors. Should voters in Ireland too?

Trichet's comments seem less hawkish than the market had anticipated and the euro is coming off sharply. While recognizing policy remains accommodative, he is using none of the word cues that point to a June hike. Euribor yields has fallen…

Dollar stronger against most majors, but the yen is the strongest currency today, breaking 80 The ECB is meeting and Trichet’s press conference should be the key news today BOE leaves rates unchanged as expected

Below is a PDF copy of the Portuguese Memorandum of Understanding for the EU - IMF bailout. Portuguese interest rates have fallen somewhat on the news of the bailout, to the lowest levels in fifth months.