Note The frantic flight to liquidity and solvency
Some markets have been exhibiting dysfunctions for nearly 4 years. The flight to liquidity and compliance with solvency requirements of banks and states with financial issues, have been - and still is - only ensured by non-conventional financing provisions and emergency (...)
|
Opinion Central Banks : the global financial system trashcans ?
Institutionalized monetization condemns central banks to become the international financial system trashcans and, despite German opposition, it is likely to be the same for the ECB.
|
Strategy Buy in may and go away
According to Mandarine Gestion, current valuation levels in the banking sector constitute opportunities rarely seen over a medium-term horizon. However, over the short term, investors are preferring to focus on two factors while at the same time exaggerating in our view (...)
|
Opinion Greece: awaiting the inevitable
The credit default swap market is pricing in a 65% probability of a default within the next five years.
|
Note Euro zone bailout plans: origin and utilization
Back on bailout plans granted to countries in the Euro zone encountering severe fiscal deficits since May 2010. How are tens of billions Euros raised, what are they for, and mainly, are those amounts enough to re-establish the public finances and stabilize those countries (...)
|
News Investors welcome the issuance of European Union’s bonds for the bailout of Ireland
The market welcomes, on wednesday, the first wave of bonds issued by the European Union to raise funds for Ireland.
|
Kiosk Understanding the eurozone crisis and its various facets
The current crisis is multiple. Initially sovereign and financial, it then became a social and political crisis. These changes do not facilitate the assessment of the situation, let alone the implementation of solutions. Back on the various facets of the (...)
|
Note Rating Agencies
The American case during August 2011 and that of France in January shows that the loss of an AAA rating does not necessarily lead to a higher interest rate adjustment.
|
Note Challenges for Europe’s banks
Even in the seemingly unlikely case that a comprehensive solution to the sovereign crisis is found, the changed regulatory backdrop is a major challenge for the banks, and probably for the economy as a whole.
|
Note Survey: European investors are optimistic for the future of the Euro
It emerges from an poll, conducted by the Global Alliance of Investors, dealing with institutional investors in Europe, that 80% of those questioned, believe in the ability of the euro to cope with current challenges. British investors are less (...)
|
News Currency Swaps to hide Greek debt?
The general opinion that Goldman Sachs might have helped the Greek government to hide its debt through Currency Swaps, leaves one more than skeptical.....
|
Strategy Nordic Sovereign bonds, the last safe investment in Europe?
The yield of the Swedish 10 year notes fell to a new historical low. A move which indicates that Sweden is viewed by Investors as a new hedge…
|
Opinion The Euro will survive In fine !
We do not believe or at least most of the implosion scenarios of the euro zone regardless of the terms. -Not because we would be trying to find one or several sustainable solutions to the crisis of sovereign debt, but because such a process would cost too much to everybody (...)
|
Kiosk Crisis, stock market crash and risk management in 2011
Turmoil around sovereigns’ solvency and the strong market drop currently observed raise many questions and misunderstandings. Taking a short break to look back at some analysis and themes developed throughout the year seems then (...)
|
Opinion What would happen in case of Grexit?
According to William Davies, Head of global equities at Threadneedle Investments if Greece leaves the euro, contagion will be feared, the volatility of a currency under threat will resurface, and we revisit the throes of the euro crisis we endured a few years back. Not our (...)
|
News
Greece: a possible lengthening of debt repayment -
November 2010
