Tuesday, 24 February 2015

A few stories and charts today - Greece, debt, agriculture, Japan

Only one place to start...

Greece – Greek delay in submitting reform list due to disagreement with creditors.  Hmm.   At best all of this is just kicking the can down the road…with lots of deadlines coming up: 


Still at least the Greeks can argue they have not been too slow in implementing reforms over the last few years (albeit from a low base):
Greece of course did see much higher debt levels over recent years...but they were not alone.  Not many countries cutting debt (and yet look at bond yields!).  Fascinating chart: 


Am I surprised about this headline from the Japanese press?  Not at all (link here).  The yen is going much lower...

Government-BOJ relationship showing signs of strain


Why you should continue thinking (positively) about the agricultural theme


Some global stock markets are really concentrated:


Ukraine – CDS implying a 97% default probability.  Not good.  Still ongoing military actions too.

Nasdaq – does rise 9 days in a row despite the above.  Last winning streak of this length was in September 2010. 

Yellen – Senate Banking Committee today in the first installment of her semi-annual testimony before Congress on the US economy.  Nice link: ‘what is the one question you would ask her?

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