Greece has a government, Italian 2yr yields have a 3 handle, spoos are back to +8 percent for the year and all seems a little more reasonable in this crazy, mixed-up market. As for our beloved policy makers, the EU leaders appear to FINALLY have something up their...
As the market breathes a collective sigh of relief tonight post the Greek election results, no one should get too carried away with euphoric feelings. Greece is a highly divided, highly volatile and deeply troubled country. A coalition government is by no means a done...
I had hundreds of client responses to my last two commentaries on the Spanish bank bailout. Clearly I struck a nerve. It is safe to surmise from everything I received that it is not very popular to make claims about how Europe might actually be onto something...
All I have read in the last 24 hours is how Spanish government bond holders have been subordinated to the ESM. And this in turn is being touted as the cause for the souring sentiment yesterday, after some short lived euphoria. I must confess, the relevance of this...
The details are not fully transparent, but the Spanish bank bailout - which was requested and granted in the same minute over the weekend - appears to have three VERY important components. First and foremost it is a BANK bailout, not a state bailout. It is early days...
The details are not fully transparent, but the Spanish bank bailout - which was requested and granted in the same minute over the weekend - appears to have three VERY important components. First and foremost it is a BANK bailout, not a state bailout. It is early days but maybe, just maybe, European officials have […]
