sovereign debt

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Spain IS Greece After All: Here Are The Main Outstanding Items Following The Spanish Bailout Submitted by Tyler Durden on 06/09/2012 14:52 -0400 Bank Run Bond Bridgewater CDS Creditors European Central Bank Eurozone Germany Greece Gross Domestic Product Ireland Italy National Debt Nationalization Portugal Sovereign Debt After two years of denials, we finally have the right answer: Spain IS Greece. Only much bigger. So now that the European bailout has moved from Greece, Ireland and Portugal on to the big one, Spain, here are the key outstanding questions.   via Spain IS Greece After All: Here Are The Main Outstanding … Read more

Einhorn Ends 2011 Just Over +2%, Closes FSLR Short, Warns On Asia, Mocks “Lather. Rinse. Repeat” Broken Markets

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Anyone wondering why FSLR just jumped, it is because as was just made known, David Einhorn’s Greenlight has decided to close its FSLR position, after bleeding that particular corpse dry. “Our largest winner by far was our short of First Solar (FSLR) which fell from $130.14 to $33.76 paper share and was the worst performing stock in the S&P 500.” Einhorn also announces that he was among the “evil” hedge funds who dared to provide market clearing transparency and buy CDS on insolvent European governments: “We also did well investing in various credit default swaps on European sovereign debt.” As … Read more

ECB Won’t Step Up Bond Purchases: Draghi – Bloomberg

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This is really pretty incredible.  It’s surprising to me that more people  are not talking about this.  While the headline reads all doom and gloom, if you read the article, the ECB just provided unlimited loans to banks and without question many of these if not all will be buyers of their country’s soverign debt.  This is the defacto unlmiited support peple are calling for.  I guess they may have to spell it out better.   The ECB is resisting pressure to increase its bond buying, saying governments need to find a lasting solution to the debt crisis. The central … Read more