Why shorting Spanish and Italian Bonds is the Right Trade
I continue to believe that longer dated Spanish and Italian bonds are poised for a significant sell-off.
Hay que darle una oportunidad a la austeridad
La austeridad dañará el PIB este trimestre y posiblemente el próximo, pero si no se toman en consideración las limitaciones que la deuda impone en el futuro, el gasto sólo empeorará las cosas.
When did Austerity Become a 4 Letter Word?
Some forms of “austerity” have minimal near term impact yet are crucial for the long run.
¿Quién es el comprador natural del bono español a 10 años?
Son relativamente pocos los compradores naturales de bonos españoles a largo plazo…
Greek Creditors Don’t Get the Courtesy of a Reach-Around
Only in Greece, can you wipe out €100 billion of debt, and have the new debt that replaces it trade at 20% of face value…
Sigan siendo muy cautelosos y no confundan un «efecto placebo» con una «cura».
A Greek default doesn’t need to be chaotic
Greek citizens will still have to adapt and accept many unpopular changes, but after “screwing” the foreign bankers, they might be that much less reluctant, especially with any signs of growth appearing in the economy.
That is some serious fracking volatility
Natural Gas may well be the story of the year. The volatility has spiked to levels never seen before.
MEDE, FEEF, CP… ¿Funcionará alguno?
Parece ser que el mercado aplaude que Europa haya decidido anticipar la puesta en marcha del Mecanismo Europeo de Estabilidad…
Everything You Wanted to Know About Credit Trading, But Were Afraid to Ask
With so many people looking to moves in credit markets and trying to determine how successful an auction has been, I thought it would make sense to go through some examples of how credit trades.
The Greek PSI is once again (still) hitting the headlines
If they cannot bribe and blackmail and threaten their way into something they call PSI, then we will see Greece stop making payments, and then the markets will get very ugly in a hurry.
Would a Ponzi by any other name smell as bad?
Asides from giving Ponzi a bad name (at least until the ECB just admits that they are printing faster than even Big Ben) this is tying the banks and the countries ever closer.