Open Air Market in rural Normandy
January 24, 2011 · Posted in Photography · Comment
Zero Hedge Feed- 'Til Debt Did Europe Part February 22, 2012
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- Euro Zone Service Sector Contracted In February February 22, 2012The euro zone’s service sector contracted unexpectedly in February, increasing fears of a recession. Euro zone Services Purchasing Managers’ Index (PMI), released by Markit, fell to 49.4 in February from 50.4 in January, below the forecasted level. A reading below 50 indicates a contraction. Euro zone manufacturing PMI rose to 49.0 from January’s 48.8, but s […]
- Greece on a diet for EUR recovery February 22, 2012The EUR returned to a level above 1.3230 after confidence was restored in the 17 country currency by the passing of the Greek bailout. Default is still on the horizon as the terms imposed on Greece are harsh and have drawn criticism from economists who warn that the lessons from Argentina should not be forgotten. Greece has the difficult task of cutting its […]
- Greece Narrowly Avoids Default February 21, 2012By Daniel James Hayden IV Greece and finance ministers from the other 16 euro zone countries agreed to terms for Greece to receive a 130 billion euro ($172 billion) aid package that they hope will help Greece to avoid a default on its burdensome debt. Although the latest deal between Greece and the finance ministers is being hailed by some as a success, the […]
- Greece Gets Reprieve But Default Still A Possibility February 21, 2012After more than half a year of back-and-forth negotiations, with both sides guilty of brinksmanship bargaining, we learned Monday that a deal had finally been reached to provide Greece with a second emergency bailout. A total of 130 billion euros, or $172 billion, has been promised to Greece with the first payment expected in time to meet the next bond repay […]
- Where to now EUR? February 21, 2012Long/short rations is an excellent indicator for overall market sentiment. The bar chart below indicates that +58% (updated every 15-mins) of the market is/or has been bearish the EUR and there lies the danger after this early morning Greek deal announcement. The potential risk of a Greek default is subsiding after EU Policy makers agreed a bailout for the c […]
- Japan, China to Help Eurozone Through IMF February 20, 2012Japanese Finance Minister Jun Azumi met with Chinese Vice Premier Wang Qishan in Beijing on Sunday to discuss funding support to the eurozone through the International Monetary Fund. The IMF said last month it may need to increase lending by 600 billion dollars to counter the effects of the eurozone sovereign debt crisis. It was planning to seek financial he […]
- Bailout in Brussels to help the BoJ February 17, 2012The BoJ became the latest G8 central bank to ease policy this week. Governor Shirakawa and his policy makers announced a +Y10t increase in their asset-purchases and at the same time, formalized their inflation objective (an approach to fighting deflation). They intend to buy JGB’s with the new funds. The market risk is that the MoF follows this move with mor […]
- USD Liquidity an Issue February 17, 2012US data has done a stellar job this week. Above expectation prints have helped to sustain the EUR and other risk related currencies as the market heads towards the showdown in Brussels on Monday. Initial jobless claims last week beat expectations, falling to the lowest level in four years, meanwhile Philly Fed for this month came in stronger than expected, a […]
- Week in FX Europe Feb 12-17 February 17, 2012This weeks highly anticipated teleconference meeting only produced ‘sound bites’, allowing another day to be wasted and another day closer to default. The next Euro finance meeting is this coming Monday in Brussels. It’s here that the market again will hope for more clarity on a potential Greek third tranche timetable. The aggressive squeeze put on the weake […]
- ECB To Swap Greek Bonds to Avoid Loss February 17, 2012Several euro-zone officials told to press, that The European Central Bank (ECB) plans to swap its Greek bonds for new ones to ensure it isn’t forced to take losses in a debt restructuring. The ECB holds around 50 billion euros of Greek bonds as a result of its Securities Markets Program that started in May 2010, aimed at restoring the transmission of monetar […]
- Euro Zone Service Sector Contracted In February February 22, 2012
