Spanish and Italian bonds are recovering after the initial sell-off today, sparked perhaps by the increasing anxiety as Greece and the official creditors near yet another brink. This Great Graphic shows that the...
The country is insisting that its creditors take a 40% haircut, or it threatens to declare a unilateral moratorium. Important but self-imposed deadlines are approaching. The country is not Greece but Ukraine....
The US dollar is recouping some of yesterday’s outsized losses. The euro was unable to extend yesterday’s push toward $1.12, perhaps with the help of some fragile stability in the German bund after...
When the European phase of the debt crisis erupted, involving the IMF was controversial. However, its money, expertise, and credibility carried the day. It became integral to the aid efforts within the monetary union....
This Great Graphic comes from the UK’s Office of National Statistics (ONS). It shows the quarterly performance of GDP since the start of 2008 for the G7 countries. Canada has been the strongest of the majors. ...
The price of gold is essentially unchanged from where it finished last year. There have been several interesting developments. Of particular note, China, India and Russia were significant buyers last month. It appears...
Many European officials are trying to reassure investors and send a signal to Greek officials that it is not 2010-2012. European countries are better positioned to deal with Greece. The banks are stronger and...
China reported that its currency reserves fell for the third consecutive quarter in the three months ending on March 31. The dollar value of reserves fell $113 bln to $3.73 trillion. Over the three quarter period,...
In what can only be seen an unexpected Chinese success, several US allies have agreed to participate in China and India’s Asian Infrastructure Investment Bank. The UK not only appeared to break ranks with the US,...
Technical talks between Greece and its official creditors have been bogged down. The purpose of the talks is for the creditors to have a better understanding of the true financial conditions of Greece in light of the...