Category Archives: Sovereign Debt

PBOC Adviser Urges Central Bank to Diversify Reserves

Posted on August 10, 2011 by macromon

We find this Bloomberg piece very interesting.  Maybe this is where some of the panic buying in gold is coming from.  We’ve been pounding the table on this trade.  See here and here. Bloomberg writes, China should urgently assess risks … Continue reading →

Posted in China, Gold, Monetary Policy, Sovereign Debt | Tagged , , | Leave a comment

Gold is the New Deutsche Mark

Posted on August 8, 2011 by macromon

We point you to our piece posted last month here at the Global Macro Monitor, Gold’s Perfect Storm? Nears All-time Closing High Posted on July 12, 2011 by macromon Gold is creeping higher as many believe it is the only place … Continue reading →

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

Holders of U.S. Treasury Debt

Posted on August 7, 2011 by macromon

(click here if chart is not observable)

Posted in Bonds, Sovereign Debt | Tagged , , | 8 Comments

Europe’s Destabilizing Feedback Loop

Posted on August 4, 2011 by macromon

Europe’s sovereign debt crisis and concerns over a global double dip sparked a dash for cash and hammered just about everything, including crude oil, corn, emerging equities, developed equities, and even orange juice.  O.J.?  Down 4 percent today? Did the … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Sovereign Debt, Sovereign Risk | Tagged , , , , | Leave a comment

Ron Paul Fan Club

Posted on August 2, 2011 by macromon

Wow! Our mailbox was packed with lots of Paulistas coming to the defense of the Congressman over the misinterpretation of our recent post about the bill he introduced to cancel Treasury debt held by the Fed.    In no way … Continue reading →

Posted in Monetary Policy, Politics, Sovereign Debt | Tagged | 1 Comment

H.R. 2768 Would Cancel $1.6 TN in Treasury Debt Held by Fed

Posted on August 2, 2011 by macromon

The Hill reports Rep. Ron Paul introduced legislation on Monday to cancel the $1.6 trillion of federal government debt held by Federal Reserve.   The Hill writes, Paul has argued for the last few weeks that the idea represents a quick … Continue reading →

Posted in Monetary Policy, Sovereign Debt | Tagged , , , | 7 Comments

Chart of the Day: T-Bill Yields

Posted on July 27, 2011 by macromon

Somebody’s selling.  That is a big move in a big market.   The “freight from safety” trade on fears of credit downgrade may just be enough to light a fire under the arse of the politicos.  We had a huge capital … Continue reading →

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Plan B: President Clinton’s 1995 Mexico Bailout

Posted on July 25, 2011 by macromon

It’s hard to fathom that the U.S. will default on its debt, but in the event Congress can’t come to an agreement to raise the debt ceiling, we have little doubt President Obama will circumvent Congress and invoke Section 4 … Continue reading →

Posted in Black Swan Watch, Fiscal Policy, Politics, Sovereign Debt, Sovereign Risk | Tagged , , , | 2 Comments

The Armageddon Trade

Posted on July 24, 2011 by macromon

Here are the four markets we do not want to see large concurrent sustained moves in the direction as illustrated. (click here if picture is not observable)

Posted in Black Swan Watch, Bonds, Currency, Dollar, Equities, Gold, Politics, Sovereign Debt | Tagged , , , , | 8 Comments

Analysis of Greece’s “Trichet Plan” Restructuring

Posted on July 22, 2011 by macromon

We’ve done some quick analysis of Greece’s commercial bank “Trichet Plan” restructuring announced late last night (click here for term sheet) by the Institute of International Finance (IIF).   The IIF is a consortium of the world’s largest banks. Interestingly, the … Continue reading →

Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , | 5 Comments