Category Archives: Sovereign Risk

Run on German Safe Deposit Boxes? WTH?

Posted on November 26, 2010 by macromon

The implosion of the Eurozone appears to be accelerating. But Germany?  Come on!  Yet Ambrose Evans-Pritchard writes the crisis in the eurozone periphery is moving to the core as credit default swaps for German, French,and Dutch bonds have blown out … Continue reading →

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

“Will the next fiscal crisis start in Washington?”

Posted on November 26, 2010 by macromon

Sheila Bair, chairman of the Federal Deposit Insurance Corp., writes in today’s Washington Post, Even as work continues to repair our financial infrastructure and get the economy moving again, we need urgent action to forestall the next financial crisis. I … Continue reading →

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

Chart of the Day

Posted on November 26, 2010 by macromon
Posted in Black Swan Watch, Bonds, Budget Deficit, Fiscal Policy, Japan, Sovereign Risk | Leave a comment

Is Ireland’s Rescue Package a Veiled Bailout of the ECB?

Posted on November 23, 2010 by macromon

Not that it needs a one, but some in Ireland are starting to ask the question.   The European Central Bank exposure in Ireland is above €130 BN, a quarter of its book, and now wants its money back.  In the … Continue reading →

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

‘The Euro Was Equivalent of US’ Subprime Securities’

Posted on November 23, 2010 by macromon

This quote is from today’s Spiegel Online International, which has an excellent summation of what the German newspapers are saying about the Eurozone sovereign debt crisis.   The leftist Die Tageszeitung writes: “Where earlier countries with small currencies like the Irish … Continue reading →

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

Irish Sentiment

Posted on November 23, 2010 by macromon

This cartoon of Prime Minister Brian Cowen is on the cover of today’s Irish Times.  Pretty much sums up how the Irish feel.  How long can the Euro last?                       … Continue reading →

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Washington Gets Serious on Deficit Reduction

Posted on November 22, 2010 by macromon

There is a whiff in Washington that the pols may be getting religion on the deficit.  The implosion of Europe must be scaring the s%*t out of them.  The WaPost writes, A debate is raging over the size and shape … Continue reading →

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

Ireland Bailout Equal to $8.8 trillion US Equivalent

Posted on November 22, 2010 by macromon

The FT reports the Irish bailout package will total €80bn-€90bn, which is about 60 percent of the country’s $200 BN annual GDP.  Massive!   The FT writes, The bail-out is expected to total €80bn-€90bn and will include contributions from the UK … Continue reading →

Posted in Black Swan Watch, Currency, Equities, PIIGS, Politics, Sovereign Risk | Tagged , , , | Leave a comment

Post hoc ergo propter hoc

Posted on November 18, 2010 by macromon

Correlation = 1)  causality; 2) spurious; or 3) reverse causality?   You decide….. Source: Bond Vigilantes

Posted in Bonds, PIIGS, Sovereign Risk | Tagged , , | 1 Comment

“This could break backs…economies toward bankruptcy”

Posted on November 15, 2010 by macromon

These were the words of Greek prime minister George Papandreou, speaking about Germany’s tough stance on burden sharing during his visit to Paris.   The fracturing of the eurozone appears to be accelerating, or, at best, the fault lines are beginning … Continue reading →

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