Los Cabos Summit

Fear Persists of Euro Crisis Contagion

June 19, 2012

At the G20 Summit in Los Cabos, Mexico, IMF resources to handle Europe’s crisis was raised sharply to $456 billion, but markets still doubt if contagion can be stopped.  A new Greek government has still not been fleshed out. Spanish auctions of 12- and 18-month T-bills raised as much capital (EUR 3 billion) as sought […] More

Pessimistic Mood Despite Greek and French Election Results

June 18, 2012

European elections yesterday produced results that were as good as could have been expected.  But Spain’s 10-year sovereign debt yield jumped to an 13-year high of 7.13% on unsettling news about the health of Spanish banks.  Parties in Greece committed to remaining in the euro and honoring previously negotiated austerity captured a majority of parliamentary […] More