
The Italy referendum results sent U.S. markets roaring to new highs on Monday intraday, with the Dow hitting a record 19,249 intraday.
By Cameron Saucier, Associate Editor, Money Morning -
The Italy referendum results sent U.S. markets roaring to new highs on Monday intraday, with the Dow hitting a record 19,249 intraday.
By Cameron Saucier, Associate Editor, Money Morning -
The Italy referendum results sent U.S. markets roaring to new highs on Monday intraday, with the Dow hitting a record 19,249 intraday.
By Cameron Saucier, Associate Editor, Money Morning -
The Quitaly vote today could send the markets into free fall - just like the Brexit vote did back in June.
By Diane Alter, Contributing Writer, Money Morning -
It's Italy's referendum that could decide if the struggling country will change its constitution...
By Money Morning Staff Reports, Money Morning -
The European Union (EU) is seeing renewed interest by investors because Britain wants to leave.
The EU referendum vote on June23 will determine whether the United Kingdom will remain in the EU.
By Michael E. Lewitt, Global Credit Strategist, Money Morning • @MichaelELewitt -
Just because central bankers want to lead investors over the cliff like they did in 2008 doesn't mean that people should follow them.
Unfortunately, that's exactly what investors did last week. In a year that has seen many foolish rallies, Friday's massive rally in stocks - coming just a day after a massive sell-off - was the most foolish of all.
Let's take these one at a time...
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
The Greek bailout is the latest exercise in a geopolitical ploy to expand European business interests and reinforce North Atlantic Treaty Organization (NATO) doctrine.
The only logical conclusion to this point is that this Greek bailout and the two preceding it were never about helping Greece repay.
The Greek debt crisis is about way more than just Greece or holding together the Eurozone...
By Michael E. Lewitt, Global Credit Strategist, Money Morning • @MichaelELewitt -
As a veteran investor and hedge fund manager, I've often pursued strategies that feed off volatility. So for me, the type of schizophrenic, up-and-down action that we saw last week was just what the doctor ordered. Unfortunately, for anyone banking on a positive long-term outcome for Greece and the EU, the doctor making orders may well be named Kervorkian.
The "Gridiots" in Europe spent the week torturing a world too fearful (or stupid) to just ignore their idiocy. The dysfunctional and bankrupt Hellenic State will continue to be funded for a couple of more years - after which they'll have to go through this moronic exercise all over again. Having allowed its populace to self-immolate and vote against accepting the demands of its creditors, the Syriza government caved to precisely those demands and now the world will wait to see if the rest of the European governments will be dumb enough to fall for this charade.
By Money Morning Reports, Money Morning -
The Eurozone and the Greek people are wondering what happens if Greece exits the euro.
The conventional wisdom is that Greece would abandon the euro, adopt the drachma, and then work to devalue it to boost export competitiveness and grow the economy.
The reality is not so simple...
By Money Morning Member Alert, Money Morning -
The recent disquiet over Greece has been threatening the markets and dominating the headlines, but the best course of action for investors right now is to view it as more noise than signal.
The Greek situation has taken years to play out, and the levels of non-hedged global exposure to Greek debt have been drastically reduced since 2010. There has also been plenty of time to mitigate the risk of contagion that could result from a Greek default or even an exit from the euro.
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
The Eurozone and the Greek people are wondering what happens if Greece exits the euro.
The conventional wisdom is that Greece would abandon the euro, adopt the drachma, and then work to devalue it to boost export competitiveness and grow the economy.
The reality is not so simple...
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
What happens when Greece defaults?
That's the question on the market's mind right now. It's no longer a question of "what happens if Greece defaults?"
Here's why the stakes are high, and why a default or "Grexit" is about more than just Greece...
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
For most of the Greek debt crisis the reality has been well-known. Even if it was only initially discussed among the staffers and in the back offices of the International Monetary Fund, a Greek default has always been inevitable.
So now that Greece is €328 billion in the hole – a 175% debt-to-GDP ratio – exactly why hasn’t Greece defaulted on its debt yet?
Here’s the real story behind the Greek debt crisis…
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
A Greek default is inevitable. Years of piling up bailout loans without a reprieve in the Greek debt crisis prove that.
But it's not just the 300 billion or so euros in Greek debt are the problem. It's the complicated spider web of cross-collateralizations and derivative trades tied to Greek debt that are the real terror.
Here's how a Greek default could be a much bigger problem than you're being lead to believe...
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
Euro-dollar parity is still coming. Don’t be fooled by this sudden rebound.
The fundamentals support a fast dive to euro-dollar parity. But the technical traders simply won’t allow it to fall to those levels so quickly.
Here’s why euro-dollar parity will still happen, even if there are some snags on the way down…
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
The hunt for yield in Europe is positioning a certain bond ETF for big gains.
Right now, Eurozone government bonds are a no-go. Yields are crashing all across the continent and the profit opportunities are drying up. This will only be made worse as the European Central Bank carries on with quantitative easing.
But it's making this bond ETF, which plays off an important subsector, a must.