sovereign debt crisis

The auxiliary objective of QE by the Fed is to weaken the USD. Herein lies the rub. Quite simply, with the recent announcement by the BOE of another round of QE worth £75 billion, with the ECB now willingly or unwillingly being forced into…

Below is the leaked Greek bailout document that everyone has been talking about. Yesterday, the Financial Times first revealed this analysis' existence. Here is Rob Parenteau's understanding of what the Troika analysis demonstrates about…

Now watch the Greek protestors turn on each other. Makes you wonder if an EU plan to be announced Wednesday is really going to solve the core issues of the crisis in the eurozone: 1) too much debt that can't be paid back; 2) debt/credit…

Nicholas Sarkozy has some sharp words about the crisis.

This chart shows how the Italians have suffered in the sovereign debt crisis. It is as if the ECB never bought bonds.

Spain continues to be vulnerable to market stress and event risk. The already moderate growth prospects for Spain have been scaled back further. Lower economic growth in turn will make the achievement of the ambitious fiscal targets even…

Look at these charts that Win Thin has crafted on sovereign bond spreads. this is what I want to discuss.

Euro zone stresses are back in the spotlight with a report on France that was issued by Moody’s late in the North American afternoon. It was not a rating action but rather an annual update on the state of the country. The agency noted that…

Europe is slowly but inexorably moving toward its own version of TARP—the U.S. “toxic asset relief program”. Rather than sub-prime mortgages and related derivatives, the toxic assets in Europe are sovereign credits, which in some cases –…

G20 Finance Ministers said they expect decisive action on 10/23; dollar pares back some recent losses. Markets likely to remain focused on Europe this week with Greek austerity vote and EU summit. EM markets this week focus on rate…