Greek debt

Spreading Hope over Greece Lifts Equities

June 23, 2015

Negotiators claim to have reached an agreement on the main principles regarding a Greek debt accord and express hope that a full deal can be worked out this week. Share prices are up 3.9% in Greece, 1.0% in Germany, 1.2% in France, 0.9% in Spain and Italy, 1.1% in Switzerland but just 0.1% in Britain. […] More

Weaker Dollar Especially against the Ozzie and Sterling

April 22, 2015

The Australian dollar has risen 1.2% against its U.S. counterpart, buoyed by Aussie first-quarter CPI data that showed core inflation falling no further and remaining above 2.0% target floor. Sterling was lifted 0.7% against the dollar by Bank of England April 8-9 minutes that revealed not only a unanimous 9-0 vote for no change but […] More

Rising Dollar

March 10, 2015

Dollar appreciation continued relentlessly overnight.  EUR/USD touched a new low for the move of $1.0735 on concerns that Greece may not comply with conditions, without which liquidity aid from the ECB would be stopped.  The immediate focus is upon whether eurozone examiners would be allowed back in Athens tomorrow to see Greece’s financial books. Chinese […] More

Europe Gets Better News on Inflation

February 27, 2015

Increasing domestic political rumbling in Greece sent share prices there down 4.1% and lifted the 10-year government bond yield by six basis points.  The parliament in Germany approved the recent agreement to extend the bailout aid timetable by four months. The dollar is mostly softer, with overnight losses of 0.5% against the Swiss franc, 0.4% […] More

Positive Reaction to Tuesday’s Yellen Testimony and China Reopens

February 25, 2015

Today is a quiet day from a data-release standpoint, so investors will be looking to testimonies by Fed Chairperson Yellen and ECB President Draghi for direction.  Yellen reprises yesterday’s Humphrey-Hawkins semiannual appearance before congress, this time testifying to the House Financial Services Committee.  Draghi will be speaking before the EU parliament.  The ECB took a […] More

Market-Friendly News

February 19, 2015

FOMC minutes released late Tuesday revealed Fed policymakers are in no hurry to raise the fed funds rate, suggesting the first move may be closer to September than June.  Concern centers on signal of tightening while inflation is close to 1%.  Another worry is the Greek debt crisis. The ECB releases minutes of its January […] More

Continuing Impasse on Greece and Oil Back Under $50/Barrel

February 11, 2015

Ahead of today’s meeting of eurozone finance ministers, Greece and its creditors appear even further apart on solving the debt problem.  Greek debt amounts to 175% of GDP, and the Tsipras Government, which seeks to renegotiate the terms of its loans, won a parliamentary vote of confidence by 162-137 supporting the new leadership’s approach.  German […] More

Markets Watching Greece and China Anxiously

February 9, 2015

Who’s going to flinch first in the standoff over Greek debt.  Prime Minister Tsipras and his finance minister Varoufakis spoke more emphatically about a break with austerity.  The prime minister reaffirmed his campaign promises to boost the minimum wage.  Greece’s creditors continue to insist that there can be no watering-down of Greece’s debt obligations.  Greek […] More

A Better Market Appetite for Risk

December 3, 2012

Chinese PMI’s suggest foundation for recovery. Details released of Greek debt buyback plan. Yen retreat stalls on Shirakawa remarks.  Dollar/yen down 0.3% at 82.22. Manufacturing PMIs suggest less intense downturn in Europe. Australian retail sales weaker than forecast. The euro advanced 0.6% to $1.3059.  The euro also strengthened against the Swissie to 1.2090.  The dollar […] More

Monthend Delivers Plenty of New Information

November 30, 2012

The yen fell to seven-month lows of 107.7 per euro and 82.76 per dollar. The tone of fiscal cliff talks between the White House and Congressional leaders has turned more embittered and gloomy. The German parliament approved the latest aid plan for Greece. Japanese industrial production unexpectedly advanced 1.8% in October, but other released Japanese […] More