Tag Archives: ECB

Weekly Eurozone Watch

Posted on December 7, 2012 by macromon

Key Data Points German 10-year Bund 9 bps lower; Ireland 18 bps wider; Italy 12 bps wider; Spain 23 bps tighter; Portugal 1 bp tighter; Greece 158 bps tighter; Large Eurozone banks up  -1.0 to 5 percent higher; Euro$ down … Continue reading →

Posted in Weekly Eurozone Watch | Tagged , , , , , , | 2 Comments

Ballooning of Central Bank Balance Sheets

Posted on December 4, 2012 by macromon

Interesting data and charts from the IMF on the ballooning of central bank balance sheets. Since August 2007, the Fed’s balance sheet has increased by 221 percent, mainly through the purchase of government bonds and mortgage backed securities, with the … Continue reading →

Posted in Monetary Policy | Tagged , , , | 2 Comments

Speaking of the Irish….

Posted on November 15, 2012 by macromon

Not only do we love Irish bands, we  owe much our heritage to the country. We’re also proud our distant relatives (less so with Twitter, however)  are working hard to take one of the eyes out the European PIIGS.   … Continue reading →

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Weekly Eurozone Watch: Comfortably Numb

Posted on September 7, 2012 by macromon

Key Data Points German 10-year Bund 18 bps higher; Italy 10-year 97 bps tighter to the Bund; Spain 141  bps tighter; Portugal 140 bps tighter; Ireland 50 bps tighter; Greece 197 bps tighter; Large Eurozone banks 5-15 percent higher; Euro$ … Continue reading →

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Draghi Speaks, Markets Go Berserk

Posted on September 6, 2012 by macromon

The potential disappointments were there in Draghi’s OMT policy announcement.   The markets didn’t care, however, as the perceived tail risk of sovereign default was taken off the table as was a Euro banking collapse circumvented by the LTROs. Central bankers … Continue reading →

Posted in Banking, ECB, Economics, Euro, Eurozone Sovereign Spreads, Monetary Policy | Tagged , , | 1 Comment

Europain: Young and Unemployed

Posted on September 4, 2012 by macromon

The following chart from the Washington Post of Europe’s unemployed youth really captures the human suffering of the European debt and banking crisis.   It also illustrates why labor reform needs to be a key component of the structural adjustment in … Continue reading →

Posted in Employment, Euro, PIIGS, Spain | Tagged , , , | Leave a comment

Quote of the Day: Nostalgia for the Deutsche Mark

Posted on August 5, 2012 by macromon

While German political leaders now declare their allegiance to the eurozone, opinion polls in Germany show that public support for the euro is very weak. As the risks accumulate, it is not inconceivable that Germany might conclude that, despite the … Continue reading →

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Weekly Eurozone Watch: Conditionality

Posted on August 3, 2012 by macromon

Key Data Points German 10-year bund 3 bps higher; France 10-year 14 bps tighter to the Bund; Italy 42 bps wider; Spain 8 bps wider; Portugal 36 tighter; Ireland 20 bps tighter; Greece 144 bps tighter; Large Eurozone banks up … Continue reading →

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Say it ain’t so, Mario!

Posted on August 2, 2012 by macromon

(click here if video is not observable)

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The Market With A Draghi Tattoo

Posted on July 27, 2012 by macromon

Wow! Stunning 4 percent plus move in the S&P5oo on the back of Mario Draghi’s comments he will do “whatever it takes” to save the Euro.  It got another kick today when Draghi wasn’t refuted by the Angela Merkel and … Continue reading →

Posted in ECB, Equities, Monetary Policy | Tagged , , , | 4 Comments