Category Archives: Euro

France Pushes Back on the Moody’s Downgrade

Posted on November 20, 2012 by macromon

 This downgrade does not raise a question-mark over the fundamental economics of our country, nor the reforms undertaken by the government, nor our good reputation for borrowing. – Pierre Moscovici, French finance minister France’s 10-year government sovereign spread to the … Continue reading →

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France’s AAA Moody Blues

Posted on November 20, 2012 by macromon

http://www.euronews.com/ The credit ratings agency Moody’s has stripped France of its prized triple A rating, cutting it by one notch to AA1. The agency said an uncertain fiscal outlook and a deteriorating economy were behind the decision for the downgrade … Continue reading →

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Euro Gloom

Posted on November 14, 2012 by macromon

The hits just keep on coming.  Forget what is happening in the markets,  the Euro street is truly hurting.  And that, our friends, is where the ultimate risk lies. (click here if video is not observable)

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Police protest against austerity in Portugal

Posted on November 7, 2012 by macromon

Normally they are on the other side of the barricades. But hundreds of police officers have gathered in Lisbon to call for the Prime Minister to resign and to condemn next year’s budget, which includes the biggest tax hikes in … Continue reading →

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Euro testing key support

Posted on November 3, 2012 by macromon

The Euro$ is sitting right on top of its 200-day moving average at 1.28237.   The chart shows this is an important level as it has provided support over the past few months and once breached usually leads to sustained weakness. … Continue reading →

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Portugal passes fresh tax hikes

Posted on October 31, 2012 by macromon

Portugal’s parliament has passed the country’s largest tax hike package in decades. The changes form part of Prime Minister Pedro Passos Coelho’s new 2013 budget programme. Lisbon has to meet targets set by a 78-billion-euro bailout agreement with the EU … Continue reading →

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European carmakers reduce capacity

Posted on October 25, 2012 by macromon

http://www.euronews.com/ The carnage continues among carmaker with Ford saying on Thursday that would cut its production capacity in Europe by 18 percent; that is 355,000 vehicles a year. One day after announcing the closure of its plant at Genk, Belgium … Continue reading →

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Euro Fracture: Venice Wants Independence – RT

Posted on October 6, 2012 by macromon

The Republic of Venice is planning for a glorious comeback. Supporters of Venetian independence from Italy are gathering for a rally to demand the region goes it alone, tired of being saddled with Rome’s austerity. It’s the latest in a … Continue reading →

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Stratfor: Euro Fracture

Posted on October 5, 2012 by macromon

As the European Union splinters, Stratfor’s Reva Bhalla examines the limits of Continental integration being sought by European policymakers. For more analysis, visit: http://www.Stratfor.com (click here if video is not observable)

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Portugal’s Bond Swap

Posted on October 3, 2012 by macromon

Interesting swap.  Note Portugal’s 10-year sovereign spread relative to the German bund has come in 423 bps this year.  The 10-year government bond now yields under 9 percent. (click here if video and chart are not observable)

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