In an effort to stay abreast of news and markets while in Boston, the two most interesting items on the global financial stage are causing a push/pull in the market. The Spanish elections certainly impacted the markets. Weakness in the EURO began on Friday as Bloomberg ran a story about the sad state of municipal finances in Spain that would be revealed after the Socialists lost most previously held local governments. It seems that the Spanish authorities have been fudging their local municipal finances and this will put more pressure on Spain to enact austerity budgets even with an unemployment rate above 21%.
Posts Tagged ‘CFTC’
Notes From Underground: The only TRU-MAN about the DOLLAR is ex-CEA head Christina Romer
May 23, 2011Notes From Underground: The World Awaits the State of the Union but it is Sarkozy in Search of A Balcony
January 24, 2011First and foremost: My thoughts and prayers go out to the Russian people as the nihilistic elements of global terrorism crafted its senseless actions on the Moscow Airport. It is not my bullish view on Russia that provokes my thoughts, but rather the ugliness of NIHILISM. Random terrorist acts are to be opposed wherever and whenever they raise its spectre of wanton destructiveness. The Russians will of course respond with a heavy hand for Putin et al care very little about public relations. Brutality will beget brutality. Political expediency will trump all rationality for neither Medvedev nor Putin will want to be perceived as weak in the eyes of a resurgent nationalistic populace.