Tag Archives: EUR

The Bankia Signal

Another Friday, another wait for economic news out of Spain. The results of the second part of an audit of Spain’s banks  – started in May and with particular reference to their funding needs – is likely to be released … Continue reading

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ECB Floats Yield Target Idea; U-Boats Launched

Late this morning the markets seem to have sobered up a bit following earlier barely fettered optimism about a Der Spiegel article over the weekend. It said: “The European Central Bank is considering setting limits on yields of euro area sovereign … Continue reading

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ECB Bullets To Shoot Down High Hopes [Sorry]

The views below are based on my soundings, readings and common sense. Responsibility my own: ESM banking licence: crisis would need to deteriorate significantly (threaten the core) before such a politically contentious and legally complex policy change is considered. Bear … Continue reading

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Negative Benchmark Omens – How Imminent is the Doom For Yields?

Discussion of whether [or when] there is likely to be a collapse in ‘core’ government debt prices appears to be increasing. One example Specifically in Europe, the question of when Bunds in general [and perhaps the Euro Bund Future contract … Continue reading

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Staying Sharp At The Summit

Personally, I’m making an effort to remain alert as we go into the 2 millionth Summit [slight exaggeration] to discuss the euro-zone crisis. No matter how monotonous this newsflow has become though, it can still spring surprises – including for … Continue reading

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Why Pillaging Alpha From Italy’s Yields Might Not Be So Easy

Espresso 7% rate on all debt would cost just EUR140B Italy projects it will collect c. EUR500 bln taxes in 2012 Italy’s Total Debt Scenario Relatively Tame Italian household debt is about 40% of GDP Risk/Scope for Financial Repression Some … Continue reading

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Overnight Bungee Practice

If Wednesday’s market moves in Europe are just half as volatile as they were in the relatively illiquid overnight conditions, it’ll be an ‘interesting’ day. Just after London’s close, the euro spiked circa 80 pts to 1.3760/65, as did other … Continue reading

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