That US fiscal cliff hangs over a pile of recessionary rocks below
The fiscal cliff and “Taxmageddon” are terms for what might happen at the end of this year, when various US tax cuts and benefits expire, and the automatic “sequestration”...
Tourist-trapped, in the Greek bailout
Or the Greek-German relationship, told through tourism.I ask Germans to choose Greece for their summer holidays.That’s Alexis Tsipras speaking to reporters in Berlin on Tuesday –...
Greenshoes, Facebook phantoms and ETF magic
Successful or not, Facebook’s IPO has taught us one very important thing over the last two days.The blogosphere/Twittersphere knows extremely little about greenshoe IPO mechanics....
Eurozone exposures charted (a.k.a. Malta’s sorrow)
The little guy always gets ignored, as these charts from Nomura’s Jens Nordvig and Dimitris Drakopoulos show:What stands out is how poor Malta’s vulnerability...
Oh Schatz! No coupon
This. Is. Marktverwerfung:That’s a 0.00 per cent coupon on €5bn of two-year German debt to be sold this Wednesday.Marktverwerfung – market dislocation –...
Pershing Square’s presentation on JC Penney
Hat tip to Dan McCrum for passing along. Ackman’s bullishness on JC Penney is mostly about CEO Ron Johnson and his new management team, but there’s a lot in here on pricing models,...
ELA, a life in the public eye
Finally, we have seriously reiterated our request to take advantage of a direct financing line from the Greek Central Bank, via the ELA (emergency liquidity assistance), the public...
ELA, a life in the public eye
Finally, we have seriously reiterated our request to take advantage of a direct financing line from the Greek Central Bank, via the ELA (emergency liquidity assistance), the public...
A formula to end the dollar’s reserve currency domination
One reserve currency to rule them all.But does it need to be this way? Or is it indeed possible to have two, or even several such currencies? Or to get straight to the heart of it:...
A formula to end the dollar’s reserve currency domination
One reserve currency to rule them all.But does it need to be this way? Or is it indeed possible to have two, or even several such currencies? Or to get straight to the heart of it:...
Depressing eurozone summary du jour
Another day… another round of eurozone soul searching. This time UBS has sent out a Tuesday triptych of eurozone angst.The first note, from Paul Donovan, covers off...
Real estate won’t be supporting Chinese steel demand much longer
Something is up with China’s steel production. It reached record levels in March, driving up expectations of rising coking coal and iron ore prices. As the FT and Reuters have reported,...
