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GGB Investors Demand 7% Minimum Yield As Greek Government Demands Bailout From Rich Expats

The bond deal that was so very much rumored was going to get done in mid (and at most late) February, never really took off. The reason: with each passing day, investors (what little is left of them) are demanding a greater and greater premium, as the country now has less than 3 weeks of cash left at the current cash burn rate.

Daily Highlights: 2.19.10

Asian stocks, US Futures fall on concern Fed move signals stimulus exit.

Guest Post: Are Repos Signaling A Buy Or A Sell Opportunity?

Submitted by Yves Lamoureux, Investment Advisor, Macquarie Private Wealth Are repos signaling a buy or a sell opportunity ? The study of repurchase agreements (or repos) gives us a recent insight into the big players’ view. The theory behind repurchase agreements is that large banks use them to buy and sell stocks

Guest Post: The Amazing Shrinking Put/Call Ratio!

Submitted by Yves Lamoureux, Macquarie Private Wealth The amazing shrinking put/call ratio! Have you noticed lately the behaviour of the put/call ratio?

Daily Credit Summary – February 15: Europe Edition

Commentary courtesy of www.creditresearch.com Spreads in Europe widened today amid low volumes as the US, parts of Asia, and some of the Greeks took the day off. Breadth was notably negative at almost three wideners to every tightener financials underperformed non-financials on average, and the continued flattening in Financials curves is increasingly pricing in traumatic times ahead in the short-term

Some More Perspectives On This Weekend’s Secretive Banker Meeting In Sydney

One of the less-reported events this weekend was the not so secret central banker meeting that is taking place in Sidney Australia. Now that factual details are finally emerging it is appropriate to collect some information tidbits about this shindig which has some claiming is reminiscent of a modern day version of the Jekyll Island meeting.

Contagion

From Foreign Exchange Research, Barclays Capital The key lesson from the ERM crisis of 1992 and the Asian crisis of 1997 is that contagion can emerge quickly and often in unpredictable ways. Unwinding of leveraged positions by distressed market participants, herding behaviour among investors, and loss of liquidity that gives way to general flight to quality can all lead to heightened correlations between markets and, in extremely circumstances, set off a self-filling crisis on a regional/global scale. There have been clear signs over the past week that the distress in the Greek government bond market is increasingly being felt in other euro area countries such as Spain and Portugal

Guest Post: A Technical Look At Treasuries – Room For Optimism

Submitted by Yves Lamoureux, from Macquarie Private Wealth A unique look at bond behavior will serve to illustrate how risk is lowered in holding long Treasuries for the coming year.

Flashback One Year: A Study In Comparisons And Contrasts, And Why Q4 GDP Was Really Over 7% Lower

As David Rosenberg points out, " what a difference a year makes ." Here is the compare and contrast. A year ago, China was embarking on a massive fiscal and credit stimulus plan that would send commodity prices and global exports surging

Guest Post: The US Finds Its Superpower Structure And Capital Are Insufficient To Cope With A Transformed World

Submitted by Gregory R. Copley of OilPrice.com The US Finds its Superpower Structure and Capital are Insufficient to Cope with a Transformed World The United States of America, in global strategic terms, is tumbling down a series of misadventures, declining in a “step of sighs” through frustrating economic and military endeavors as it discovers that its superpower structures and massive capital wealth are insufficient to cope with a transformed world. This transformed world was created by the very superpower capabilities and massive wealth of the West.