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CNBC: New Year Fear: Euro Crack CNBC: New Year Fear: Euro Crack Reviewed by magonomics on December 31, 2010 Rating: 5
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Three Revealing Developments

December 28, 2010
I am on vacation, but I have a television interview later today and as I was reviewing what happened today and three things strike me as noteworthy.  
First, China had its second failed auction this month today.  It sold about 80% of the 3-month bills as it wanted to.  The 7-day repo rate, which is similar to our Fed funds rate insofar as it shows …
Three Revealing Developments Three Revealing Developments Reviewed by Marc Chandler on December 28, 2010 Rating: 5
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CNBC: Currency Flow in 2011 CNBC: Currency Flow in 2011 Reviewed by magonomics on December 28, 2010 Rating: 5
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Big Move on 2-Year US-German Spreads

December 22, 2010
The euro-dollar exchange rate has done a fairly good job of tracking the movement in the US-Germany 2-year interest rate differential over the past several quarters.  There is a big move today.  The premium Germany offers over the US has narrowed sharply.  At 35 bp, it is the narrowest since Dec 7. 
The main driver seems to be flows out of the per…
Big Move on 2-Year US-German Spreads Big Move on 2-Year US-German Spreads Reviewed by Marc Chandler on December 22, 2010 Rating: 5
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Mistrust Euro Bounce

December 22, 2010
The US dollar is generally weaker across the board.  These are holiday thin markets and the price action seems a reflection of necessary flows.  The main news that appeared to steady the euro were reports suggesting China is prepared to by 4-5 bln euros of  Portuguese debt.  Other reports indicate PBOC officials have not confirmed the earlier repo…
Mistrust Euro Bounce Mistrust Euro Bounce Reviewed by Marc Chandler on December 22, 2010 Rating: 5
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