Remember last year when Italian and Spanish yields were circa 7%. Remember before that when Irish yields were 14%, Portuguese at 18% and Greece at 30+%. They have all come in hugely. I am merely pointing out that sovereign yields have come in, countries like Austria,Holland,Belgium and France have not seen an explosion in their yields threatening to create an overspill of the crisis to the core.
When a rating agency downgrades a country, I'll be the first to acknowledge it, but Fitch,Barclays and others suggest now that the threat to the sovereigns of the eurozone is receding.
The American president has signed the bill drafted by Democratic and Republican leaders, which allows the United States to avoid “fiscal cliff”. The solution adopted by the Congress does not, however, solve the problem, but only touches some of its elements (tax policies) and postpones dealing with the others (cuts in governmental spending) for a few weeks.
America’s Fiscal Cliff: The first of many? | Politics in Spires
When we're outta the woods I'll let ya know
You think there won't be a knock on effect to the Sovs from Fitch & then there's Moodys ala Greece...
The worldwide stampede into corporate debt over the past year has fuelled a “bond bubble” that threatens heavy losses for investors once interest rates spike up again, Fitch Ratings has warned.
Fitch expects 'Bond Bubble' carnage when rate cycle turns
A further default on the remaining privately held debt would provide little relief, given that now more than 75% of the total debt stock is held by official creditors," the report said. "In our view, only a reduction in principal on outstanding official debt would lead to a semblance of sustainability in Greece's debt
Greek Debt Unsustainable Without Official Sector Losses -Moody's - WSJ.com
The Associated Press @AP
Cautious Optimism versus Corporate "Bond Bubble" then there's Moodys re Greece.
What about Peter Matthews statement re Ireland's Banks needing another €60 Bees?
That stubborn, stubborn Matthews banana skin - it's a killer isn't it?
Deputy Mathews did assert that there was potentially another €60bn that would be required in the Irish banking system – that’s on top of the €64bn direct bail-out of the banks and the €5.6bn of state-aid paid by NAMA to the banks for the acquisition of loans.
Deputy Peter Mathews calls Noonan’s deal to sell Bank of Ireland stake “idiotic”
Will Peteser bring down the re-bluffery???
If Peteser is just a maverick running his mouth without evidence -then why hasn't Enda pulled him???
Those ESM charts you used to post so much, when is Italy and Spain expected to bite of Draghi's hand for some OMT action ? 2013?