Davos faces now customary global uncertainty

By Mike Peacock
January 21, 2015

Swiss special police officers observe the surrounding area from atop the roof of Davos Congress Hotel in Davos

The great and good are in Davos facing a rather uncertain landscape yet again (‘twas ever thus for the last seven years).

EU talks investment, Germany balances budget

By Mike Peacock
January 13, 2015

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The European Commission will unveil legislative proposals for its 315 billion euro investment plan and the findings of a public consultation on the investment elements of a planned EU-U.S. free trade deal which could significantly boost growth.

Q3 rebound but at cost of price cutting?

By Mike Peacock
August 1, 2014

A woman walks past a shop in Madrid

Manufacturing PMI surveys across the euro zone and for Britain are due. The emerging pattern is of an improving third quarter after a generally poor second three months of the year.

Euro zone inflation to fall further?

By Mike Peacock
July 31, 2014

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Euro zone inflation is the big figure of the day. The consensus forecast is it for hold at a paltry 0.5 percent. Germany’s rate came in as predicted at 0.8 percent on Wednesday but Spain’s was well short at -0.3 percent. So there is clearly a risk that inflation for the currency bloc as a whole falls even further.

Erdogan unfettered

By Mike Peacock
March 31, 2014

Investors have spent months looking askance at Turkey’s corruption scandal and Prime Minister Tayyip Erdogan’s response to it – purging the police and judiciary of people he believes are acolytes of his enemy, U.S.-based cleric Fethullah Gulen. But it appears to have made little difference to his electorate.

A question of energy

By Mike Peacock
March 26, 2014

After two days in The Hague, Barack Obama moves on to Brussels for an EU/U.S. summit with Ukraine still casting the longest shadow.

Obama twists, EU sticks

By Mike Peacock
March 21, 2014

Washington has seriously upped the ante on Vladimir Putin by slapping sanctions on some of his most powerful allies.

Odds on Britain leaving EU shift again

By Mike Peacock
March 12, 2014

Kiev has appealed for Western help to stop Moscow annexing Crimea, where a referendum on joining Russia will be held on Sunday. Ukrainian Prime Minister Arseny Yatseniuk will take that message to Washington and the United Nations.

Marathon banking union talks

By Mike Peacock
March 10, 2014

Shots were fired at an international team of monitors in Crimea over the weekend, violence flared in Sevastopol as thousands staged rallies and Angela Merkel, who perhaps has the most receptive western ear to Vladimir Putin, rebuked him for supporting a referendum on Ukraine’s southern region joining Russia. But in truth we’re not much further forward or backwards in this crisis.

from Global Investing:

Ukraine aid may pay off for Kremlin

December 19, 2013

Ukraine said today it was issuing a $3 billion in two-year Eurobonds at a yield of 5 percent in what seems to the start of a bailout deal with Russia. That sounds like a good deal for Kiev -- its Eurobond maturing next year is trading at at a yield of 8 percent and it could not reasonably expect to tap bond markets for less than that. In addition,  Ukraine is also  getting a gas price discount from Russia that will provide an annual saving of $2.6 billion or so.