Europe

I am still in catch-up mode this morning but I wanted to highlight a few points on the Irish bailout. The first has to do with the European stress tests. If you recall, the two Irish banks tested were Bank of Ireland and Allied Irish…

From Irish Government The Government today agreed to request financial support from the European Union and the Euro Area Members States. The IMF will also be requested to assist in the provision of support. The Government welcomes…

Highlights The US dollar is trading broadly lower as the details of the Irish bailout emerge with Ireland seeking around €95bln in aid. The euro is up versus the greenback after making an early high of $1.378 but subsequent gains were…

by Claus Vistesen The Eurozone seems to be the place where the party never ends these days, as one skeleton after the other comes rattling out of the closet. Indeed, one has the impression that history is in the making right now; and the…

Market participants are rightfully focused on the contagion of Ireland within Europe.  However, the depth of US corporate ties to Ireland may surprise many investors.  The value-added of majority owned affiliates of US companies…

The U.S. dollar declined in September and October as the market priced in the likelihood that the Federal Reserve would resume buying Treasuries. From late August through the actual QEII announcement itself, the dollar declined about 7.6%…

US Economic data continues to be mixed, with positive ticks in the jobless claims but weak-than-expected inflation and a surge in November’s Philly Fed.  In fact, Wednesday’s core inflation measures were the weakest print since 1958,…

One might be forgiven for thinking that a 110 bln euro EU/IMF package would suffice for Greece and stabilize the situation as IMF packages typically do over time.   However, over the past month 10-year Greek yields have 260 bp and…

A first look at why Ireland has gone to the heights and crashed spectacularly, and what options it has that other nations in crisis have used successfully.

I think this trio of videos from Latvia really puts the whole Irish crisis in perspective. After a spectacular property bubble, Latvia imploded in 2008. I was calling the Baltics the next Argentina. Indeed, by early 2009 we eventually saw…