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Recent Posts
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Tag Archives: Debt Crisis
Sovereign Risk and Debt Crises
We received some interesting pushback on our recent post, Is the U.S. Government Bankrupt? Not Even Close. The purpose of the post was to remind readers to not ignore the left side of a government’s balance sheet — assets — … Continue reading
Posted in Black Swan Watch, Bonds, Euro, Eurozone Sovereign Spreads, Italy, Japan, Uncategorized
Tagged Debt Crisis, Sovereign Risk
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No end in sight to Spain’s financial troubles
Hurry up, Mario! (click here if video is not observable)
Posted in Black Swan Watch, Euro, PIIGS, Spain
Tagged Debt Crisis, Economy, Recession, Spain
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Weekly Eurozone Watch
Key Data Points German 10-year bund 2 bps higher; France 8 bps wider; Spain 5 bps tighter; Portugal 67 wider; Ireland 66 tighter; Greece 131 bps tighter; Spanish and Italian bank stocks 3-10 percent higher; Euro FX up 0.66 percent; … Continue reading
Posted in Weekly Eurozone Watch
Tagged Debt Crisis, EU Summit, European Sovereign Spreads, France, Germany, Italy, Spain
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Spain’s New P.M. Unveils Austerity Measures
(click here if video is not observable)
Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Debt Crisis, Economic Program, Rajoy, Spain
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Spiegel: Obama “like a doctor caught prescribing performance-enhancing drugs”
Go no further than the Der Spiegel piece, Why Europe Is Right and Obama Is Wrong, to understand the fundamental differences between American and German thinking on fiscal and monetary stimulus. Michael Sauga, the author, writes, American economists, central bankers and fiscal … Continue reading
La Grande Divergence
Great chart of eurozone sovereign 10-year yields from Desmond Lachman of the American Enterprise Institute. We made a decent living off the “great convergence trade” of the 1990’s, where yields of the eurozone sovereigns collapsed on top of each other. … Continue reading
Posted in Black Swan Watch, Bonds, Budget Deficit, Euro, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Debt Crisis, European Sovereign Yields, Greece, Italy, Portugual, Spain
1 Comment
Sovereign Debt: Not So Risk-Free
Joseph Cotterill over at FT Aphaville has a great post on how some European corporate bonds are trading through their sovereigns. Not surprising it taking place in countries without access to a printing press to monetize deficit spending, Markit pointed … Continue reading
Posted in Black Swan Watch, Bonds, Currency, Fiscal Policy, Geopolitical, Monetary Policy, Policy
Tagged Debt Crisis, EU, PIIGS, Sovereign Debt
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MS Poll: 53% Believe US Debt Crisis By 2012
An interesting chart from the Business Insider of the results of a Morgan Stanley survey of 150 clients at a recent investment conference. Shockingly, more than 50% of the investors polled believe the US will experience a sovereign debt … Continue reading
Posted in Black Swan Watch, Bonds, Credit, Monetary Policy, News, Policy, Politics, Sovereign Risk
Tagged bonds, Debt Crisis, Interest rates, Sovereign Risk
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