Extension of European debt problems returned as a mayor concern this week. Most notable problem is, off-course, much hyped Ireland’s banking system nationalization. Latest leg included spiting up Anglo Irish. Bloomberg: Ireland’s Burial Plan for Anglo Irish Keeps Cost Question Alive. Irish 10 year government yield spread versus same maturity German issue moved to new highs. Chart 1. Ireland vs. Germany […]

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A kind of uneasy feeling surrounds markets today and I can see only negatives on the horizon: Japanese Yen and Australian dollar – currencies involved in financing equity bets moved against financing users. Peripheral Europe bond spreads rose in recent weeks; Greek are even close to pre-bailout levels. Hungarian Forint vs. Swiss Franc again close to all […]

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