It seems that we are on a ship, that has lost its anchor, left the port for a journey in uncharted waters, and we suddenly discovered that the gorilla we […]

Last Friday’s evening downgrade by the S&P was ill-timed and ill-advised. We wrote a week ago that we would not be surprised if it took place. We will reiterate our […]

As we are drafting this commentary, the news is that a deal for the US debt limit is very close to be completed, that will involve the raising of the […]

As an opening statement allow us to paraphrase David Liss’ claim in his novel A Conspiracy of Paper, where he claims that finance is an animal, and the government needs […]

The old anthem of imperial Europe cried out, “Hail, Europe, our true Fatherland”, and Italy nowadays enters its own phase of the Eurozone crisis. Italian bonds’ spreads over Germany’s Bunds […]

As of yesterday (July 4th), it seems that the European debt crisis is entering into a new phase, with the expected new downgrades of Greek paper by the major rating […]

The storm we have been writing about in the last three weeks seems to be gaining speed. The Greek debt crisis can open Pandora’s box and unleash sovereign debt, banking, […]

The war of words was in high gear this past week. German officials demanded participation of the private sector in a new Greek bailout package that is estimated to be […]

Last Wednesday the employment and production news had significant negative effects for equities. Major indexes dropped by close to 2.3%, the worst drop this year. Private sector payrolls increased insignificantly, […]

In the last several days, the markets’ focus has been back on the Euro-zone crisis. In a nutshell this is the chain reaction that the markets are afraid of: Greece […]