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A quick note on Greek privatization.

Posted by on Apr 5, 2012 in Economics, General | 0 comments

A quick note on Greek privatization.

For the last year Greece has been trying to sell off as much state assets as possible in order to reach the goal of EUR 5bn raised by privatization. By the end of 2011 the government had only secured EUR 1.7bn. It seems that now they will be able to increase that amount with the sale of the government’s share of the Greek lottery (OPAP SA). The only problem is that they are getting a very bad deal out of it. The Greek Lottery is one of the very few enterprises in Greece today that is...

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Pre-market notes

Posted by on Sep 9, 2011 in Economics | 0 comments

Pre-market notes

Despite speeches from both Obama and Bernanke, markets remained unconvinced and finished Thursday’s session lower. After reaching the head and shoulder topping pattern target, SPX seems like bear flagging for the last few weeks. A breakdown of the flag could bring us below 1100 for the first time in 2011 and back to September 2010 levels. During the summer sell-off, the dollar index remained unaffected in expectation for QE3. However, yesterday DXY broke out of the consolidation pattern...

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Some hints from the NYFed on what’s to come on Thursday.

Posted by on Sep 6, 2011 in Economics, General | 0 comments

Some hints from the NYFed on what’s to come on Thursday.

Markets are eagerly anticipating Obama’s speech on Thursday, that could outline the future plans of the administration on how to deal with the slowing economy and persistent high levels of unemployment. In recent speeches the president has indicated that his efforts will be directed towards infrastructure projects and some form of housing subsidy. There isn’t much to be said about new infrastructure projects which are expected to be pretty straight forward, on the real estate side,...

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Swiss franc gets a minimum peg at 1.20 against EUR.

Posted by on Sep 6, 2011 in Economics, Forex Analysis | 0 comments

Swiss franc gets a minimum peg at 1.20 against EUR.

Well, we finally got what everyone have been expecting for the last couple of months. SNB announced on Tuesday that it will pledge unlimited forex resources to keep the franc from rising. Here is the statement: Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a deflationary development. The Swiss National Bank (SNB) is therefore aiming for a substantial and...

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Shadow ECB council signaling monetary easing.

Posted by on Sep 6, 2011 in Economics | 0 comments

Shadow ECB council signaling monetary easing.

Every month a panel of fifteen financial and economics professionals voice their opinions through the German Hadelsblatt on what the ECB should do in the coming months. Their views are often forward looking and could precede the actual implementation of the recommended policy by a few months. However, their position is indicative of whether the broad economic consensus is shifting in any direction differing from current monetary policy. Its latest meeting was conducted on 1. September and...

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Markets at the begining of the week.

Posted by on Aug 15, 2011 in Economics, General | 0 comments

Markets at the begining of the week.

Last week marked four consecutive days of huge volatility and swings from the upside to the downside. The VIX (general index of market fear) reached very high levels that usually mark an intermediate bottom in equities. S&P500 confirmed and even surpassed its head and shoulders target and looks like consolidating for now. The evidence for a new cyclical bear market gets more and more compelling. The key level to watch over the next few months is 1250, where we saw a hammer candle printed...

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