Category Archives: Sovereign Risk

‘Toon of the Day: Capitano Merkel, vada a bordo cazzo!

Posted on January 20, 2012 by macromon

Spiegel posted this cartoon which appeared in an Italian newspaper portraying the German Chancellor Merkel caricature and likening her to the captain of the capsized Costa Concordia. After abandoning ship, the captain was exhorted by a local Coast Guard official,  … Continue reading →

Posted in Euro, Sovereign Debt, Sovereign Risk | Tagged , , | 1 Comment

IMF Having Trouble Raising New Funds

Posted on January 19, 2012 by macromon

(click here if video is not observable)

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

What Eurozone Crisis?

Posted on January 19, 2012 by macromon

Wow!  Check the moves in the large Eurozone bank stocks today and for the week.  And, unlike the U.S. market, on heavy volume.   Euro sovereign spreads are a bit tighter on the week with the exception of Portugal, which Standard … Continue reading →

Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , , , | 2 Comments

World Bank Bearish on Global Economic Prospects

Posted on January 17, 2012 by macromon

The World Bank’s latest Global Economic Prospects (GEP) 2012 published today warns of a coming year of “uncertainties and vulnerabilities.”    They note gross capital flows to developing countries plunged to $170 billion in the second half of 2011, which … Continue reading →

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

World Economic Forum Global Risks 2012

Posted on January 15, 2012 by macromon

The World Economic Forum is out with their Global Risks 2012 report.   Great video presentation.  Click here for PDF copy. Economic imbalances and social inequality risk reversing the gains of globalization, warns the World Economic Forum in its report Global … Continue reading →

Posted in Black Swan Watch, Economics, Policy, Politics, Sovereign Debt, Sovereign Risk | Tagged , | 1 Comment

Sarkozy breaks silence after French downgrade

Posted on January 15, 2012 by macromon

(click here if video is not observable)

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Eurozone Sovereign Spread Tightening

Posted on January 12, 2012 by macromon

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 , , , , , , | 2 Comments

Eurozone bond auctions kick off

Posted on January 4, 2012 by macromon

“Not a good auction, but not a surprise.” (click here if video is not observable)

Posted in Black Swan Watch, Euro, Sovereign Debt, Sovereign Risk | Tagged , | 3 Comments

Are the Markets Driving European Politics?

Posted on December 29, 2011 by macromon

Der Spiegel poses the question to former Deutsche Bank CEO Hilmar Kopper in an interesting interview. SPIEGEL: The markets are driving politics, leaving no doubt as to who is really in charge. Kopper: I think that’s nonsense. Why does the … Continue reading →

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

The Haunting (of the Sovereign Bonds)

Posted on December 29, 2011 by macromon

A consistent theme we have heard over and over this year is that there is no credit risk for a sovereign borrower that has an independent central bank and can resort to debt monetization.   Even Martin Fedstein in his excellent … Continue reading →

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