Category Archives: Euro

Italians Protest Austerity

Posted on October 9, 2011 by macromon

(click here if video is not observable)

Posted in Black Swan Watch, Budget Deficit, Euro, Fiscal Policy, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , | Leave a comment

Those were the daze….

Posted on October 7, 2011 by macromon

(click here if photo is not observable)

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Europe’s Bank Problem

Posted on October 6, 2011 by macromon

Another informative chart from the IMF showing the fundamental problem in Europe’s banking system –  excessive leverage and dependence on wholesale funding.  Add to that  overexposure to highly indebted sovereigns with deteriorating credit fundamentals.    It also illustrates why the German … Continue reading →

Posted in Black Swan Watch, Euro, Global Stock Performance, Global Trend Indicators, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , | 3 Comments

Can the S&P500 Clear the Red Zone?

Posted on October 5, 2011 by macromon

Some rally!  Almost 70 S&P points or 6.4 percent from yesterday’s low to today’s close.  Makes us feel we’re back in the 1990’s trading Brazilian and Russian defaulted sovereign debt.   So where to now? The next 60 points are … Continue reading →

Posted in Equities, Euro | Tagged , , , , | 5 Comments

Spain and Italy Services PMI Continue to Contract

Posted on October 5, 2011 by macromon

(click here if chart is not observable)

Posted in Economics, Employment, Euro, PIIGS | Tagged , , , , | Leave a comment

ECB’s Bond Purchases: A Game of Cat and Mouse

Posted on October 4, 2011 by macromon

A little dated but an informative graphic nonetheless. (click here if chart is not observable)

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

Brazil’s Roussef warns Europe on austerity

Posted on October 4, 2011 by macromon

(click here if video is not observable)

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

Greek Haircuts: A Clarification

Posted on October 3, 2011 by macromon

The media and some pseudo-analysts,  and, surprisingly,  even some investors,  still don’t understand what the 21 percent haircut in the Greece bond restructuring is all about.   The 21 percent touted about is simply the hypothetical secondary market discount of the … Continue reading →

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

Angry Greeks Protest Arrival of Trioka

Posted on September 29, 2011 by macromon

(click here if video is not observable)

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

La Grande Divergence

Posted on September 26, 2011 by macromon

Great chart of eurozone sovereign 10-year yields from Desmond Lachman of the American Enterprise Institute.  We made a decent living off the “great convergence trade” of the 1990’s, where yields of the eurozone sovereigns collapsed on top of each other.  … Continue reading →

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