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Category Archives: PIIGS
Eurozone Sovereign Spread Tightening
After the better than expected Spanish bond auction, eurozone sovereign spreads have come in significantly today. The widely watched Italian 10-year bond yield fell to 6.63 percent. The return of confidence, in our opinion, is the continuation of the markets’ … Continue reading
Posted in Black Swan Watch, Euro, Eurozone Sovereign Spreads, PIIGS, Sovereign Debt, Sovereign Risk
Tagged bonds, Euro, European Sovereign Debt Crisis, Germany, Italy, Spain, Spreads
2 Comments
Spain’s PM Rajoy names insiders in new cabinet Euronews
(click here if video is not observable)
Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Government, Rajoy, Spain
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Spain’s New P.M. Unveils Austerity Measures
(click here if video is not observable)
Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Debt Crisis, Economic Program, Rajoy, Spain
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Tough Christmas in Greece
(click here if video is not observable)
The Genesis of the Euro
(click here if video is not observable)
Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Euro, European Sovereign Debt Crisis
2 Comments
Say It Ain’t So, Mario!
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 Debt Monetization, ECB, EU Summit, European Sovereign Debt Crisis
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Curbing Our Enthusiasm, Increasing Our Bet…
Moving closer to the EU Summit we are are curbing our enthusiasm and expectations of the substance of the deal but increasing our bet that it will be just enough to unleash the balance sheet of the ECB to backstop … Continue reading
Posted in Black Swan Watch, PIIGS, Sovereign Debt, Sovereign Risk
Tagged ECB, EU Summit, Euro, Italy, Sovereign Debt Criss
3 Comments
The European Troika to Watch
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 European Sovereign Debt Crisis, France, Italy, Spain
2 Comments
Italy’s Unions Not Buying the Full Monti
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 European Sovereign Debt Crisis, Italy, Monti
1 Comment
The Four Horsemen of the Europocalypse
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 Euro, European Sovereign Debt Crisis
1 Comment
Global Macro Monitor 