At first glance, the statements coming out of the Euro summit are good news. I have been saying for the past year that, to calm global markets, the transmission mechanism…
Continue Reading »
Posted in Global Economy
Tagged Europe debt crisis, European Central Bank, Germany, Spain
After three years of burying their heads in the sand (for political purposes, I assume), Spanish officials finally asked for a €100 billion bailout for their country’s banking system. I…
Continue Reading »
Posted in Global Economy
Tagged bailout, euro, European sovereign debt crisis, Eurozone, Spain
The surprising electoral success of a stridently anti-austerity party in Greece has reignited fears that the country may ultimately leave the Eurozone, which could precipitate a severe market reaction amid…
Continue Reading »
Posted in Global Economy
Tagged European Central, Eurozone, fiscal policy, Germany, Greece, Spain
As a bond investor, I am cursed to worry. It’s the nature of the beast. Last Friday’s disappointing job report, combined with a fresh rise in Spanish borrowing costs, was…
Continue Reading »
Posted in Global Economy
Tagged bond, economic recovery, Europe, European Central Bank, Fed, Spain
The specter of Hurricane Katrina haunted government officials along the eastern seaboard. Wide-ranging precautionary measures were put in place but in the end Hurricane Irene simply didn’t pack that large…
Continue Reading »
Posted in Global Economy
Tagged bonds, debt, European Central Bank, Eurozone, financial crisis, Greece, investors, Italy, Spain