Month: June 2010

Erosion of Optimism

Instead of asking what is pushing markets lower, for a change let’s search for what might give them reason to rise? Governments and markets HAVE to find reasons or they are lost. So far the downward market moves have been just the erosion of optimism. Actual pessimism has not yet gathered its own momentum. But …

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Gathering pace

Events are over-taking me as well. This morning, the explosion of CDS costs moved from Greece, whose costs are already orbiting the planet anyway, to Spain, Italy and Hungary. Does that trio sound familiar? Why have debt insurance costs shot up? Because the 750 Billion Euro ‘shock and awe’ action hasn’t worked and won’t. Spain …

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