Tag Archives: Europe

Eurozone PMI contracts in February

Posted on February 22, 2012 by macromon

From Markit’s release earlier today, The Markit Eurozone PMI® Composite Output Index fell from 50.4 in January to 49.7 in February, according to the preliminary ‘flash’ reading based on around 85% of usual monthly replies. The latest figure signalled a … Continue reading →

Posted in Economics, Euro | Tagged , , | Leave a comment

Sign of the Times: Striking Over Right to Strike

Posted on February 7, 2012 by macromon

(click here if video is not observable)

Posted in Employment, Video | Tagged , , | Leave a comment

Gold and Commodities Slammed

Posted on December 14, 2011 by macromon

Gold and other commodities got hammered.  It hasn’t been two weeks since we thought gold could move to new highs on the back of the announcement of coordinated global central bank support for Europe, which we believed would be followed … Continue reading →

Posted in Black Swan Watch, Commodities, Gold | Tagged , , | Leave a comment

Macro Notes from the Alcoa Earnings Call

Posted on October 11, 2011 by macromon

Our macro takeaway from the call is that Europe is rolling over.  No normal September bounce from the seasonally slow August.  The company also notes what they see as a temporary slowdown in China.   Alcoa missed and the stock got … Continue reading →

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First and Goal for Risk

Posted on October 10, 2011 by macromon

We asked last week if the S&P500 (our proxy for risk markets) was capable of clearing the “red zone”,  the zone of resistance between 1175-1195, which included the 50-day moving average.  The market’s answer?  Like a hot knife through butter! … Continue reading →

Posted in Charts, China, Equities | Tagged , , , , | Leave a comment

Brazil’s Roussef warns Europe on austerity

Posted on October 4, 2011 by macromon

(click here if video is not observable)

Posted in Black Swan Watch, BRICs, Euro, PIIGS, Policy, Sovereign Debt, Sovereign Risk | Tagged , , , | Leave a comment

Week in Review: Hurricane “I-Lean” Lifts Markets

Posted on August 28, 2011 by macromon

Short and sweet tonight.   Even turkeys can fly in hurricane “I-Lean The Wrong Way.” Reports that hedge funds, with almost no tolerance for short-term pain, have opened the biggest net short positions since early 2008  has driven a relatively low … Continue reading →

Posted in Sovereign Debt, Sovereign Risk, Uncategorized, Week in Review | Tagged , , , , , , , | 1 Comment

The Weekend Read: Commodity Flop

Posted on May 6, 2011 by macromon

On How Academic Economists Missed the Crisis I was shocked by how large a panic was produced by what seemed to me – and still does – relatively small losses (in terms of the size of the global economy) in … Continue reading →

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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

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