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Sarkozy and Merkel Calm the Currency Markets by Chris Gaffney It was a pretty busy day in the currency markets yesterday, so there is thankfully plenty to write about, this morning. The dollar has continued its slow retreat from Monday’s spike when the dollar index traded at the highest level since February 22. The big […]
While America was waking up to a Labor Day of BBQ and outdoor beer drinking, Italian and Spanish bonds were collapsing versus German bunds. I would have sipped beer all day without a clue, were it not for our intrepid Euro bond expert Dr. Evil, who was kind enough to drop this jaw-dropping chart in […]
Our daily Italy Debt Watch continues! Yields are once again hot, up another 5bps at I type (11:30am Pacific time). Italy 10-year yields are blowing up! (Source: Bloomberg) The most popular story on Bloomberg today features hedge funds piling into bets on the European debt crisis getting worse: Hedge funds that trade bonds and loans […]
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