Category Archives: Sovereign Debt

Did Expectations of Debt Monetization Cause Today’s German Bund Auction to Fail?

Posted on November 23, 2011 by macromon

Let’s try this again. In our post, The Biggest Bubble in History, we tried to convey that a monetization of Europe’s  sovereign debt is not equivalent to the quantitative easing that  has taken place in the U.S. , Japan, and … Continue reading →

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

Spain’s Funding Rates Soar

Posted on November 22, 2011 by macromon

(click here if video is not observable)

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

Spiegel: Germany’s Finances Not as Sound as Believed

Posted on November 22, 2011 by macromon

This will surprise many.  Der Spiegel reports that Germany’s fiscal management is not as “exemplary” as most perceive. …Last week, the suspicions of international investors reached the stable core of the euro zone. Investors embarked on a massive selloff of … Continue reading →

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

Draghi: Where’s the Beef?

Posted on November 18, 2011 by macromon

ECB President, Mario Draghi, gave his first official speech outside the Eurozone’s  central bank and asked EU policymakers “where is the implementation” of past decisions to beef up the EFSF.    The ECB is in a difficult position and has to … Continue reading →

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

Angry Greeks: “EU, IMF Out!”

Posted on November 17, 2011 by macromon

(click here if video is not observable)

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

The Consequences of Euro Debt Monetization

Posted on November 17, 2011 by macromon

As the pressure on ECB grows to step up its “bid of last resort” for European sovereign bonds, the folks over at Zero Hedge ask the very important question what are consequences if the ‘zone  resorts to massive debt monetization?    … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Dollar, Euro, Sovereign Debt, Sovereign Risk | Tagged , , | 6 Comments

The Pain in Spain

Posted on November 16, 2011 by macromon

Our friends and former colleagues over at Macro Synergy Partners, a London based hedge fund, which is performing well this year,  really nails it on Spain.  Note this was written before the recent blowout in spreads. Spanish policy makers made … Continue reading →

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Debt Diets & Riots: Euro Lose/Lose?

Posted on November 16, 2011 by macromon

Here’s an interesting take on the euro crisis from Russia Today.   BTW, hearing rumors that Germany is kicking around a Eurobond type structure, which skirts their constitutional constraints on increased lending to the ‘zone.  Just rumors. (click here if … Continue reading →

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Ominous

Posted on November 14, 2011 by macromon

This shouldn’t be happening after this weekend’s  good political news.  The spread widening is weighing on France who will be on the hook for their banks who are heavily exposed to European sovereigns.  Where are you ECB?          (click here … Continue reading →

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

The Full Monti

Posted on November 13, 2011 by macromon

This is it.  We’re expecting a nice year-end relief rally on the back of the the positive political developments and rise of the technocrats in Italy an Greece.   A vote of confidence from the ECB could really give the rally … Continue reading →

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