Weekly updates on the Financial markets with a focus on the underlying trends that are moving asset classes. I focus on economic fundamentals and inter market relationships between different asset classes in order to determine market direction. Emphasis is also on technical analysis of chart patterns.
Tuesday, January 24, 2012
A word on the Greek debt negotiations
It's widely heralded this morning that the EU and IMF have rejected the private creditor offer to accept a coupon rate of 4% on restructured Greek debt they hold. Inevitably, the IMF and EU know they can put a gun to private investors heads, notwithstanding the bigger risks that lurk around these negotiations. What I can't understand is the apparent cluelessness among European leaders on their seeming inability to finesse the markets by making such blatantly negative statements to the international press. Are they just stupid or don't care?
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