Market News, quoting senior government sources in Athens, reports that the Greek government wants to amend the deal struck by Euro zone leaders at the EU summit last month. Greek PM Papandreou has been receiving information from the IMF about … Continue reading
F.T. reports Athens will this month launch a multibillion-dollar bond in the U.S. in it’s hunt for new investors.
It’s an old English saying. Anyways, Greek Deputy PM Pangalos is quoted by a Portuguese newspaper as saying the sort of problems hitting Greece are likely to spread and Portugal could be next in line. Thanks mate!! EUR/USD steady in … Continue reading
The Germans are withholding aid over “racial” issues, the outspoken deputy PM says.
Polls can be tricky as questions can be asked in such a way as to elicit a pre-determined response, so take them with a grain of salt, especially on social issues. That said, Reuters reports a poll of Greeks finds … Continue reading
Credit rating downgrade for UK could be “within a year”, the U.S. would have more time Underweighting UK, US and pan-European 10 year sovereign bonds Not sure if any of this is anything new. Pretty sure it isn’t.
Greece tried to sell EUR 1 bln in 12-year debt today. Result: epic fail. The EU wants Greece to exhaust its financing options before looking for aid…Careful what you wish for. EUR/USD trades at session lows of 1.3450.
Greek spreads over German bunds are racing higher today, wider by 23 bp. This should cap EUR/USD rallies near-term and could bring downside pressure back into play now that shorts have been trimmed by recent price action. Traders are a … Continue reading
Involvement seen as last resort Accepting Greek BBB- papers as collateral helps to solve Greece even without IMF Neither ECB nor Greece expect IMF involvement will be needed
This little nugget will have helped take the wind out of the euro’s sails. EUR/USD is back down at 1.3480 having earlier posted session high 1.3539. Aggressive EUR/GBP selling, with Uk clearer notable, will also be underminning EUR/USD.