Good morning, Show More
greece deal
An IMF report says that 1) Greece needs a lot more debt relief. Well beyond what Europe has been willing to consider so far. 2) Debt sustainability projections are unrealistic 3) Greek borrowing at anything below AAA would cause an unsustainable debt dynamic for years. 4) Eurozone creditors must accept... Show More
Good morning, Show More
Most politicians are humbled by President Kennedy’s statement that 'history is the final judge of our deeds' when it comes to evaluating political achievement, which make you wonder about the new Greek government and its accomplishment in its first year in office. After the Greek economy recorded a few flickers... Show More
Greece Reaches Deal But... Nothing Has Been Signed... | Global Markets Rally ... | Banks in Favour |
Good morning, Show More
The collapse of Chinese stocks in the past month does indeed eclipse Greece's market turmoil. But when it comes to the volatility of the exchange-traded funds tracking those two markets, it's a (scary) toss-up. Show More
Eurozone leaders have given Greece until Wednesday to pass six sweeping measures including tax and pension reforms before discussions on further bailout funds can resume. Leftist Prime Minister Alexis Tsipras will be required to push legislation through parliament to convince his 18 partners in the euro zone to release immediate... Show More
The Greek government’s proposals to creditors for a three-year bailout loan call for increases in sales and corporate taxes and pension savings of 0.25%-0.5% of GDP in 2015 and 1% of GDP in 2016, according to a Greek government official. 1)Greece proposes restructuring of its debt and a package of... Show More
Good morning, Show More
"Market Bites" brings together commentary, links to news and articles, which we think our clients will find of interest. We worry about China before Greece. We stand by recent macro thematic trades we have discussed for some time - 1) Interest rates in AUS moving lower 2) Be short the... Show More
Good morning, Show More
Aussie market got hammered at the open after the Greece vote and then recovered slightly as Chinese equities started to show some stability. The recent news out of Grexit is that the Finance minister has walked to allow the next stage of negotiations. We still remain of the view that... Show More