from Morning Bid with David Gaffen:

Kick the Can

July 14, 2015

If history repeats itself, first as tragedy, next as farce, the third time is probably “Greece.” The austerity measures to be implemented and the staggering bailout sum together mark another exhibit in the long history of evidence supporting the line about insanity being the thing someone does over and over while expecting a different result. In its most ruthless terms, though, the markets liked it on Monday, the stock market was higher, the Treasury market sold off, and we’re in a kick-the-can scenario that David Kotok of Cumberland Advisors a few weeks ago said would be viewed well because markets like can-kicking. It’s possible it gives investment managers the hope that they’ve found the fountain of youth or something.

from Morning Bid with David Gaffen:

It’s All Greek to Us

June 29, 2015

Today looks set to be one of those days when the fictional (The Princess Bride) character Inigo Montoya’s directive: “Let me explain. No, there is too much. Let me sum up” would prove valuable.

from Morning Bid with David Gaffen:

Do You Believe in Magic?

June 22, 2015

The main action for investors is a focus on that same problem – Greece. But hope springs anew on fresh reports of a cash-for-reforms deal in the hours jut before the latest LAST meeting to be held Monday evening Europaland-time.

from Breakingviews:

Trading illiquidity theories lack solid ground

June 18, 2015

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Morning Bid with David Gaffen:

Change is in the air

June 8, 2015

We go into the week with the U.S. Treasury market having suffered its worst weekly run in three months; the benchmark 10-year Treasury saw its biggest jump in yield in nearly two years, basically dating back to the “taper tantrum” of 2013.

from Morning Bid with David Gaffen:

I Learned This in Europe

June 4, 2015

It's no secret. The big action in the U.S. markets is going to be tomorrow, as investors await monthly jobs data due out on Friday morning. The expectation is for another strong month of payroll growth somewhere in the range of 230,000 jobs, but of course we will wait to see if there are any increasing signs of wage inflation that would make the Fed more confident in raising rates by September rather than say December.

from The Great Debate:

Why investors who bet big on Ukraine should shoulder their own losses

By Josh Cohen
June 3, 2015

Elderly woman begs for money near a currency exchange office in Kiev

An elderly woman begs for money near a currency exchange office in Kiev July 20, 2012. REUTERS/Gleb Garanich

from Morning Bid with David Gaffen:

A lot to chew on

June 1, 2015

The week promises a lot of huffing and puffing over whether the economy is going to pick up after a dismal first quarter, where things stand before another non-event of a Fed meeting later this month and the scary realization the year is nearly half over.

from Breakingviews:

Hope yet for creditors in China property-bond saga

May 28, 2015

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Morning Bid with David Gaffen:

The road was long, but you ran it (Janet)

May 22, 2015

On an otherwise quiet day for markets, everyone's got their eye on Janet Yellen, who speaks at 1:00 p.m. ET (1700 GMT), and it looks like she's going to make a bit of a case for the Federal Reserve to start raising rates in the near-term.