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June 3, 2005

Economics
If Roach says 3.5% and Gross says 3%, someone else has to say 2.5%

Roach and Gross could not stay among the most bullish on bonds for very long. From Marc Gilbert’s column today.Gabe Borenstein, managing director of global investments at Investec Holdings Ltd. in N…

December 4, 2005

Financial Markets
The yen, for a change

The yen's trajectory at the end of 2005 seems a bit like the dollar's trajectory at the end of 2004.   With the yen at 120, companies like Toyota presumably have little incentive to ramp up their US …

August 16, 2007

Financial Markets
The dollar, still a currency that you run to?

There clearly has been a flight to liquidity recently.  T-bill yields have collapsed (See the Econocator).   Perhaps because of the Fed.  Perhaps because folks are hoarding cash and nothing that pays…

May 7, 2010

Europe and Eurasia
European Default Risk Replaces Inflation Risk

Before the creation of the euro, European governments borrowed at very different rates. In July 1995, Portugal, Italy, Greece, and Spain all had to pay at least 4% more than Germany on their borrow…

European Default Risk Replaces Inflation Risk

May 13, 2010

Europe and Eurasia
Beware of Greeks Bearing Debt

Greece’s 2009 budget deficit was 13.6% of GDP. The primary deficit – the balance before interest – was 8.5% of GDP. The main difference between the total deficit and the primary deficit is the ‘s…

Beware of Greeks Bearing Debt