Tag Archives: Spain

Stratfor: Threats to Europe’s Austerity Coalition

Posted on March 23, 2012 by macromon

(click here if video is not observable)

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

Picture of the Day: Spain’s Real Estate Bust

Posted on March 23, 2012 by macromon

Apartment blocks in Sesena in the Toledo Provence near Madrid, Spain, seen on February 9, 2012. Only a 45-minute drive from downtown Madrid, towering vacant apartment blocks loom over empty streets and weed-filled lots. Apartments galore are for sale and … Continue reading →

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

Weekly Eurozone Watch: Bund Yield +25 bps, Tighter PIG

Posted on March 16, 2012 by macromon

Wow!   When was the last time Portugal, Italy, and Greece sovereign spreads tightened this much in one week?  Spain remains a concern, however,  widening 10 bps on the week even as the Bund yield increased over 25 bps.    Banks … Continue reading →

Posted in Weekly Eurozone Watch | Tagged , , , , | 1 Comment

Weekly Eurozone Watch: The Greek Haircut

Posted on March 9, 2012 by macromon

Key Points: 1)  Greece announces results of PSI bond restructuring; 2) International Swaps and Derivatives Association unanimously declares Greece PDI a  “credit event” triggering CDS; 3)  Greece PSI bonds begin trading when issued; 4)  Italy 10-year sovereigns tighten 59 bps … Continue reading →

Posted in Weekly Eurozone Watch | Tagged , , , , , | 1 Comment

Weekly Eurozone Watch

Posted on March 2, 2012 by macromon

(click here if charts are not observable)

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Weekly Eurozone Watch

Posted on February 24, 2012 by macromon

Q:  How does the market respond to all the doubts and scepticism about the second Greece bailout?   A:  They tighten Italian and Spanish spreads and take the Euro higher, although Portugal did widen on the week. We’ve learned a very important … Continue reading →

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Euro Fracture: Reform Fatigue Increasing

Posted on February 19, 2012 by macromon

Political backlash and reform fatigue are Europe’s biggest risk over the medium-term, in our opinion,  and need to be monitored closely.  Politicians have yet to convince many of their constituents of TINA – There Is No Alternative. (click here if … Continue reading →

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Weekly Eurozone Watch

Posted on February 17, 2012 by macromon

(click here if charts are not observable)

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Spain facing fine over manipulating deficit data

Posted on February 14, 2012 by macromon

We’re shocked, shocked to find out that governments manipulate their economic data.   Not! (click here if video is not observable)

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

What Eurozone Crisis?

Posted on January 19, 2012 by macromon

Wow!  Check the moves in the large Eurozone bank stocks today and for the week.  And, unlike the U.S. market, on heavy volume.   Euro sovereign spreads are a bit tighter on the week with the exception of Portugal, which Standard … Continue reading →

Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , , , | 2 Comments