The result is being treated as a relief that the election is finally over and that there has been a clear cut result. Basically everything remains the same. So after initially selling off in Tokyo hours- US S&P 500 futures are now in positive territory after rallying 0.75% yesterday. US Treasuries- initially rallied in Asian […]
Some thoughts on Spain and a Spanish bailout — FIU
There are continuous rumours and speculation that a Spanish bailout will be announced in the coming weeks. However there are a number of problems in this happening. Firstly the market is missing a big problem with this- there are no funds available for a bailout from the ESM. The ESM currently has €32bln in capital. […]
Poor’s downgraded the credit rating of Spain
Last night Standard and Poor’s downgraded the credit rating of Spain to BBB-, from BBB+. This came as a bit of an early surprise for the bond markets. The market was waiting on the other major bond rating company Moody’s to complete its review of its current Baa3 rating which it started in June. Rating […]