Europe

On Monday I first learned that Spain was to partially nationalise its banking system via the Financial Times Deutschland. The title of this article is the most appropriate I have seen discussing the issue, "Madrid riskiert für Cajas…

By Claus Vistesen It would have been hard to believe only a few weeks ago that the euro zone could be the source of any good news, let alone news to help push the market forward. Yet, with last week’s successful bond auctions and the…

By Edward Hugh “If you know your Thucydides and the Melian dialogue you know that small countries rely most on everyone following the rules. That’s why we follow the rules. If there are no rules, then the big will do what they want,”…

By Win Thin In its Fiscal Monitor published in November, the IMF makes a crucial point about growth rates and debt dynamics. It points out that the larger the differential for any country between real interest rates (borrowing costs) and…

It's high time I laid my cards on the table about 2011. I have hinted around my view in previous posts, promising to spell it out in detail. So, here it is: I am cautiously optimistic on the US and global economy for 2011. Let me explain…

By Marc Chandler and the BBH Currency Strategy Team Europe’s debt crisis remains among the most important factors in the global capital markets. By some market-based measures, like interest rate spreads and credit default swap prices, the…

There are no absolutely safe sovereigns — ‘rates analysis’ has to be done simultaneously with ‘credit analysis’ for all sovereigns, including the G3. There are likely to be several sovereign debt restructurings in the euro area…

By Win Thin Even though Greece, Portugal, and Ireland bonds are trading firm today, don’t be fooled into thinking markets are getting more constructive.  ECB has reportedly been actively buying today, and so bond spreads are not…

I have just finished reviewing Byron Wien's Ten Surprises for 2010. Now, I present you Byron Wien's Ten Surprises for 2011. He is bullish again. Enjoy.   -Byron R. Wien, Vice Chairman, Blackstone Advisory Partners, today issued his…