Tag Archives for " EU "

1848?

BTFD or STFR depends on what game you think is really being played out there in markets. The recent bounce in equity prices on the apparent reversal in the Fed’s QT narrative together with an improving narrative on Chinese tariffs and now hopes for a reversal in Brexit, notwithstanding the resounding defeat of Theresa May’s […]

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If the Tories are heading for extinction, what next – Corbyn for PM?

Can it get much worse for Theresa May? Having botched an unnecessary general election, her grand solution to the Brexit negotiations is basically to try and do nothing.  Having been sucked into the EU’s negotiating agenda of pay now, talk later on trade (or perhaps not at all), her ‘Florence’ proposal is now to seek […]

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Tsipras makes Merkel an offer she can’t refuse

How should we interpret this week’s volte-face by Tsipras and the Syriza government in approving austerity concessions to the Troika that had been specifically rejected by Greek voters in a referendum less than a week before? Short term, this would seem to provide an opportunity for celebration for creditors and financial markets in that the […]

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Greek referendum – all part of the Varoufakis game

Greece votes a resounding 61% “No” to the Troika debt proposals, yet financial markets remain largely unfazed, with European equity markets declining initially by less than 2% and 10 year bond yields for Italy, Spain and Portugal harden by less than 10bps. With traders having been weaned on a succession of last minute resolutions to […]

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