Friday, 20 March 2015

Financial Orbit wrap 20/03/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. Europe / Greece - Very thin Eurogroup statement overnight. “Within the framework of the Eurogroup agreement of 20 February 2015, the Greek authorities will have the ownership of the reforms and will present a full list of specific reforms in the next days” So basically kicked back to Greece to implement the reforms.  Meanwhile Tsipras will make a much anticipated visit to Merkel in Berlin on Monday…all battling against history.

(Postscript: Greece is expected to send a complete list of economic reforms to its bailout monitors within the next seven to ten days.  My view - good luck with getting full sign-off on this list from all its fellow Eurozone members.  I still think a bond haircut/restructuring is the most likely end option).  
2. Agriculture – makes me wonder if pressure on crop prices goes up…and maybe Deere is right with their call that 2015 is the trough


3. I use my latest Yahoo Finance Contributors column to discuss why it is time to be active using this excellent new piece of research:


4. I write up the Tiffany's numbers which came out earlier today...and where they blamed the strength of the US dollar for a dull outlook.

5. Have a good weekend...but not before  we observe the impact of the Northern European solar eclipse on German power grid output (where solar was naturally heavily impacted):


(h/t @JavierBlas2) 

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