Category Archives: Euro

The EU’s Camouflaged Bazooka?

Posted on December 9, 2011 by macromon

Many were disappointed that the EU Summit didn’t conclude with a hard number backstop for the ‘zone’s sovereign debt rolling over next year.   We believe if you scratch the surface the bazooka is there. The EU President, Herman Van Rompuy, … Continue reading →

Posted in Black Swan Watch, Euro, Sovereign Debt, Sovereign Risk | Tagged , , , | 8 Comments

Europe Needs An Iron Lady

Posted on December 8, 2011 by macromon

As Europe “goes wobbly” they could use an Iron Lady. (click here if video is not not observable)

Posted in Black Swan Watch, Euro, General Interest, Sovereign Debt, Sovereign Risk | Tagged , , | 1 Comment

The Genesis of the Euro

Posted on December 8, 2011 by macromon

(click here if video is not observable)

Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , | 2 Comments

Say It Ain’t So, Mario!

Posted on December 8, 2011 by macromon

Very unfortunate timing of today’s ECB meeting as Mario Draghi poured cold water on providing a backstop for the distressed Eurozone countries.  It’s kind of like holding a press conference before playing a hand in a high stakes poker game.  … Continue reading →

Posted in Black Swan Watch, Euro, PIIGS, Politics, Sovereign Debt, Sovereign Risk | Tagged , , , | Leave a comment

EU Leaders on the Hot Seat

Posted on December 7, 2011 by macromon

(click here if video is not observable)

Posted in Black Swan Watch, Euro, Sovereign Debt, Sovereign Risk | Tagged , | 1 Comment

ECB Prepares to Cut Rates

Posted on December 6, 2011 by macromon

(click here if video is not observable)

Posted in Currency, Euro, Monetary Policy | Tagged , | 2 Comments

The European Troika to Watch

Posted on December 6, 2011 by macromon

The “troika” – Italian, Spanish, and French bond yields –  is acting pretty well even after the S&P downgrade.  Italy is under 6 percent and that is what matters.   We sense there will be tremendous pressure on the shorts and … Continue reading →

Posted in Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , | 2 Comments

Italy’s Unions Not Buying the Full Monti

Posted on December 4, 2011 by macromon

While the FT reports Italy’s new technocratic government has approved tough austerity measures and economic reforms, the country’s unions seem to be balking at the tough medicine.  Italy needs lots of deflation relative to other countries to become competitive and … Continue reading →

Posted in Black Swan Watch, Euro, PIIGS, Politics | Tagged , , | 1 Comment

The Four Horsemen of the Europocalypse

Posted on December 2, 2011 by macromon

Great ‘toon from the  Economist which we hope motivates the Eurocrats to get something done.   The U.S., U.K, and Japan should not be so smug and take warning as the Four Horsemen of the debt apocalypse will be coming their … Continue reading →

Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , | 1 Comment

Spread Compression in Europe

Posted on December 1, 2011 by macromon

Not enough, surely some of it engineered,  but moving in the right direction.  Some of the move has been the rise in the German 10-year yield.   Look at the big move in France-Germany, now below 100 bps.  The big … Continue reading →

Posted in Black Swan Watch, Bonds, Euro, Sovereign Debt, Sovereign Risk | Tagged , , | 1 Comment