sovereign debt crisis

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…

The US dollar is mostly weaker as peripheral sentiment improve. Spanish bond auction went well, and market expects IMF/EU approval of new Greek package. With equity markets largely down today, FX decouples from the slowdown theme for now.

The creditors know that the game is up. All they can do is take as much as they can, as long as they can, pay themselves bonuses that are “free” from recapture by public prosecutors, and run to their offshore banking centers.

Greece is clearly insolvent. The Europeans should put a plan in place to deal with Greece and to reduce contagion. The contagion to Italy and Belgium is happening because of uncertainty and the inability to put forward a credible solution…

US dollar is broadly weaker as market sentiment builds on yesterday’s improvement. Official and unofficial views on Greece are not in short supply, but vary across a wide range. Germany may be stepping back from restructuring talk regarding…

Within the context of our Macro-Global Discretionary Managed Accounts Trading Program, we are bearish on European stock markets, and are becoming increasingly interested in the bearish side of the US equity market. We are bearish on bond…

Yesterday, I had the pleasure of talking on CNBC along with Marc Chandler of Brown Brothers Harriman about the European sovereign debt crisis. I also wrote a piece in the New York Times about the same issue, concentrated on Greece. While…

This is what I’m listening to tonight. Enjoy. P.S. – I was on CNBC with Marc Chandler of Brown Brothers Harriman and wrote a piece in the New York Times this afternoon on the European sovereign debt crisis. I will have more on this and the…

Looking through the latest round of EU GDP data, one thing is becoming increasingly obvious: when it comes to future monetary policy decisions at the ECB, and to exactly how many more interest rate hikes we are going to see, then the…

When the pejorative acronym PIGS was first created, it was supposed to be a moniker for the southern European states (Portugal, Italy, Greece and Spain). However, Italy has done much better than housing-crisis stricken Ireland and so…