Category Archives: Sovereign Debt

Trichet Says Bond “Haircuts” Would Reward Short Sellers

Posted on February 8, 2011 by macromon

A few week ago ECB President, Jean Claude Trichet, torched the short sellers of the Euro and he is now warning Members of the European Parliament (MEPs) that demanding “haircuts” from bondholders in Greece and Ireland would reward the short … Continue reading →

Posted in Credit, Economics, Euro, Monetary Policy, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , | Leave a comment

Germany Rising – Keine Gehäuse Bubble

Posted on February 7, 2011 by macromon

The latest Economist reports the Germans are the most optimistic they have been since 2000 and business confidence is at its highest level  since the Ifo institute began tracking it 20 years ago.    The Economist writes, What’s Germany’s secret? … Continue reading →

Posted in Economics, Euro, Geopolitical, Sovereign Debt, Sovereign Risk | Tagged , , | 2 Comments

Quote of the Day: Euro Debt Crisis

Posted on January 27, 2011 by macromon

“Europe is testing the limits of reactive incremental strategy … The laws of economics, like the laws of physics, do not respect political constraints.”  – Larry Summers at the World Economic Forum

Posted in Black Swan Watch, Quote of the Day, Sovereign Debt, Sovereign Risk | Tagged , | Leave a comment

Japan: Risk of Sovereign Interest Rate Shock – IMF

Posted on January 27, 2011 by macromon

In the context of S&P’s recent sovereign downgrade of Japan we thought you’d be interested in this IMF piece published in October.  The basic thesis is that Japanese commercial banks have been the main buyers of JGBs over past few … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Chart of the Day, Economics, Japan, Monetary Policy, Policy, Sovereign Debt, Sovereign Risk | Tagged , , | 1 Comment

PBS: How Severe Is Europe’s Intertwined Debt Crisis?

Posted on January 24, 2011 by macromon

The PBS NewsHour ran this piece tonight titled, How Severe Is Europe’s Intertwined Debt Crisis? Note how Iceland is rising as the model debtor and listen carefully for the “politics of bailouts,” “Germany does not have pockets deep enough to … Continue reading →

Posted in Currency, Euro, PIIGS, Sovereign Debt, Sovereign Risk, Video | Tagged , , , , | Leave a comment

The Week in Review: BRICs to FRICs?

Posted on January 22, 2011 by macromon

Vive la France! Who would of “thunk” it? The French CAC outperforming India by 13 percent in the first three weeks of the year? Will Goldie’s Jim O’Neill now replace Brazil with France in the BRIC countries and rename the … Continue reading →

Posted in Budget Deficit, Charts, China, Crude Oil, Economics, Equities, Gold, Monetary Policy, Sovereign Debt, Week in Review | Tagged , , , , , | Leave a comment

European Commission: The U.S. is Worse

Posted on January 11, 2011 by macromon

Here is a European Commission chart that appeared in the online version of Der Spiegel.  It could be a decoy to deflect the markets attention off Europe and push back to what they may perceive as America’s wallowing in schadenfreude … Continue reading →

Posted in Black Swan Watch, Fiscal Policy, Sovereign Debt, Sovereign Risk, Uncategorized | Tagged , , , | Leave a comment

The [First] Week in Review: A Capital Flows Sandwich?

Posted on January 7, 2011 by macromon

Not a bad start to the year if you were in the right space.  A Frenchman with a long position in “Apple the Sovereign” was up over 8 percent in Euros.   Note, Apple rose another $2.00 to $338 after Friday’s … Continue reading →

Posted in Apple, Bonds, Charts, China, Commodities, Currency, Economics, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , , , , , | Leave a comment

House Budget Chief Ryan Channels His “Inner” Angela Merkel

Posted on January 7, 2011 by macromon

Bloomberg is reporting Angel Merkel Rep. Paul Ryan, Republican “Young Gun”and new House Budget Committee chairman,  says he and his party won’t bailout states who are facing potential defaults.   Just after the November election we posted this was coming. Listen … Continue reading →

Posted in Budget Deficit, Economics, PIIGS, Sovereign Debt, Sovereign Risk, State and Local Government | 2 Comments

2011 Risk: China Watch

Posted on January 7, 2011 by macromon

Getting China right in 2011 will make or break the P&L this year.   The direction of the China’s economy will determine the direction of many markets, including commodities and emerging equities. We’re still trying to get a handle on the … Continue reading →

Posted in BRICs, China, Economics, Monetary Policy, Sovereign Debt, Sovereign Risk | Tagged , , | 4 Comments