Tag Archives: sovereign debt

The Bankia Signal

Posted on September 28, 2012 by squaremilecity

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 →

Posted in M² | Tagged Bank of Spain, Bankia, EUR, euro, Euro zone, markets, risk, sovereign debt, Sovereign Debt Crisis, Spain, stocks, Tesoro, The City, The City of London, The Square Mile, trading | Comments Off

Fed Decision – A Minority Report

Posted on September 13, 2012 by squaremilecity

The analogy sort of fits; and what put me in mind of it was the news this week that the FBI has commenced a project to create a hi-tech facial recognition database. We of course, are concerned about a different … Continue reading →

Posted in M² | Tagged Bonds, central bank, dollar, Economic Forecast, Economic Policy, economics, federal reserve, foreign exchange, forex, macroeconomics, markets, monetary policy, sovereign debt, The City, The Square Mile | Comments Off

ECB Floats Yield Target Idea; U-Boats Launched

Posted on August 20, 2012 by squaremilecity

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 →

Posted in M² | Tagged Bonds, central bank, debt, Economic Forecast, Economic Policy, economics, EUR, euro, Europe, European Central Bank, European Union, macroeconomics, markets, sovereign debt, Sovereign Debt Crisis, The Square Mile | Comments Off

ECB Bullets To Shoot Down High Hopes [Sorry]

Posted on August 2, 2012 by squaremilecity

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 →

Posted in M² | Tagged Bonds, central bank, debt, dollar, Economic Forecast, Economic Policy, economics, EUR, Euro zone, Europe, European Central Bank, European Union, foreign exchange, forex, macroeconomics, sovereign debt, The City, The Square Mile, trading | Comments Off

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

Posted on June 19, 2012 by squaremilecity

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 →

Posted in M² | Tagged Bonds, bunds, debt, Economic Forecast, economics, EUR, interest rates, macroeconomics, markets, sovereign, sovereign debt, Treasurys | Comments Off

Spain: the Pain the Bailout Forgot

Posted on June 12, 2012 by squaremilecity

EU leaders hailed it. Merkel & Co. gave their blessing to it. UK leaders nodded in mild approval to it. The IMF applauded it [from the sidelines.] And markets, of course, ‘sold’ it. It’s not that frequent for the political … Continue reading →

Posted in M² | Tagged Bonds, central bank, Economic Forecast, Economic Policy, EFSF, ESM, Euro zone, macroeconomics, markets, sovereign debt, Sovereign Debt Crisis, Spain, The Square Mile | 1 Comment

ECB Will Still=’Extremely Cautious Behemoth’ In January

Posted on January 10, 2012 by squaremilecity

At this point, the ECB seems unlikely to produce any material changes in policy with its announcements on Thursday. ======================================================== T&C reminders: please see disclaimer at head of this blog. please note the peculiarities of my discursive style: I try … Continue reading →

Posted in M² | Tagged Economic Forecast, Economic Policy, economics, Euro zone, European Central Bank, European Union, fiscal policy, foreign exchange, interest rates, sovereign debt, Sovereign Debt Crisis | Comments Off

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

Posted on November 14, 2011 by squaremilecity

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 →

Posted in M² | Tagged Berlusconi, Bond Yields, Bonds, central bank, debt, EUR, euro, Euro zone, Europe, European Union, Italy, Mario Monti, Monti, politics, sovereign, sovereign debt, Sovereign Debt Crisis | Comments Off

One Day, CHF and EUR, Will Be €1

Posted on July 20, 2011 by squaremilecity

With the world beset by all manner of crises right now, the Swiss franc is most likely on the closest to a vertical trajectory as we’ll ever see in our time. (We hope.) And during such times, there there’s often … Continue reading →

Posted in M² | Tagged CHF, economics, EUR, Euro zone, European Central Bank, European Union, foreign exchange, forex, risk, SMI, sovereign, sovereign credit spread, sovereign debt, Sovereign Debt Crisis, stock markets, stocks, Swiss Market Index, Switzerland | Comments Off

Deutsche Bank could FAIL, strictly speaking

Posted on July 15, 2011 by squaremilecity

Deutsche Bank: solid as a Black Forest oak. But could it fail stress tests? The idea that it might outright or nearly fail the EU tests is gathering pace and adding a small chill to European markets right now. The results are … Continue reading →

Posted in M² | Tagged Basel II, Basel III, cds, debt, derivatives, Deutsche Bank, EUR, foreign exchange, Germany, markets, regulation, sovereign, sovereign credit spread, sovereign debt, Sovereign Debt Crisis, stocks, USD | Comments Off