Tuesday, 30 June 2015

Financial Orbit wrap 30/06/15

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. Well that was an interesting day regarding Greece.  I had to smile when I saw this headline (like a payback):

Eurogroup rejects Greece's last-ditch plea for extension

Meanwhile as for the complex and dense Greek referendum question...

...probably the less said the better.

And I am not sure I am clever enough for this (still I like 'GRIN')

2. Game of credit downgrades - S&P cuts Greece to CCC- with a -ve outlook - one notch below Moody's (Caa2) and Fitch (CCC).  Meanwhile S&P has cut Puerto Rico's credit rating from CCC+ to CCC-, a two-notch downgrade reflecting imminent concern of default on $72bn of debt.  Which of the two CCC-s are worse?

3. I wrote about the Emerson Electric spin-off announcement which struck me as kind of interesting/opportunistic (link here)

4. A few final charts.  Good to see inflows into the agricultural theme (which I still like)

The year-on-year growth on Case-Shiller US house prices has got a bit dull...

5. So this is why Goldman Sachs believes we don't have a junk bond problem.  I guess whilst maturities have shifted to the right it always depends on what you are owning (see point 2. above!)

And finally...the global peace index.  Kind of surprising US ranking?

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