Tag Archives: Euro

Week in Review

Posted on March 13, 2011 by macromon

We don’t have much to say in a week that ended with the terrible tragedy in Japan.   Every major equity market we track was down with the Nikkei not surprisingly performing the worst and will no doubt open down big … Continue reading →

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Weber’s Exit Highlights Merkel’s Euro Problem – Der Spiegel

Posted on February 15, 2011 by macromon

A must read from Der Spiegel of the inside account of Axel Weber’s resignation. Bundesbank head Axel Weber’s resignation has made one thing clear: The debate about the future of the euro has become intense — and bitter. Indeed, Chancellor … Continue reading →

Posted in Black Swan Watch, Currency, Euro, Monetary Policy, Sovereign Debt, Sovereign Risk | Tagged , , , | 2 Comments

Irish Opposition Balks At Bank Bailout, Moody’s Downgrades

Posted on February 11, 2011 by macromon

The Irish Times is reporting this morning that the two main opposition parties, Fine Gael and Labour, want to delay the banking system’s recapitilasation until April, when the stress testing of lenders is complete. The Labour Party is taking an … Continue reading →

Posted in Euro, PIIGS, Policy, Politics, Sovereign Debt, Sovereign Risk | Tagged , , , | 1 Comment

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

Chart of the Day: Euro Oils Play Catch-up

Posted on January 16, 2011 by macromon

Big move in some of the European integrated oils last week.  Some have underperformed their American competitors by as much as 30-40 percent, which is more than explained by a weaker Euro.  If the market has been pricing a sovereign … Continue reading →

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“Tea Party” Opposition to the Euro Grows in Germany

Posted on January 10, 2011 by macromon

  We can’t believe we missed this over the holidays. Germany’s SpiegelOnline reported on December 27, In a survey conducted in early December by the polling firm Infratest dimap, 57 percent of respondents agreed with the statement that Germany would … Continue reading →

Posted in Black Swan Watch, Bonds, Economics, Euro, Fiscal Policy, Geopolitical, Monetary Policy | Tagged , | 1 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

It’s Official! Western Europe Now An Emerging Market

Posted on January 6, 2011 by macromon

The Markit SovX CEEMEA CDS index has traded through the SovX Western Europe CDS index for the first time.   Just a little over a decade ago, some of these countries in the CEEMEA were either: 1)  in hyperinflation; 2)  in … Continue reading →

Posted in Black Swan Watch, Bonds, Euro, Fiscal Policy, Sovereign Debt, Sovereign Risk | Tagged , , | 1 Comment

A spectre is haunting Europe

Posted on December 22, 2010 by macromon

This is what’s  going to blow up the Europe.   All the cash and backstopping in the world is not going to solve the political problem.   Jim Corr, a member of one of our favorite Irish bands, The Corrs,  nails … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Euro, PIIGS, Sovereign Debt, Sovereign Risk, Video | Tagged , , , , , | Leave a comment

Euro Fracture: Germany’s House Party Revolt

Posted on December 15, 2010 by macromon

Go no further than the chart below to understand the resentment and anger among the German taxpayers who are being asked to clean-up the “House Party” of fellow EU members.   The chart shows the housing bubbles of Ireland and Spain … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Economics, Euro, Fiscal Policy, Sovereign Debt, Sovereign Risk, Video | Tagged , , , , | Leave a comment