By some measures, Spain has emerged from the crisis in the Eurozone, and by others, it still has a long way to go. Spain gained global notoriety in the midst of the Euro crisis as the country’s debt ratios (debt to GDP) more than doubled from 40% in 2008 to around 90% in 2013 as the government decided to rescue…
Investors have lost faith in Brazil, and rightfully so. The currency has lost 36% of its value against the U.S. dollar this year, plunging nearly 7% in the last week alone. Yields on its bond issues are spiking, as investors demand higher and higher rates to loan Brazil or Brazilian companies money. Just six years ago in November 2009, Brazil…
Big Move in China's Yuan Today! Value of the Chinese currency, the yuan, against the US dollar. Source: Bloomberg Global markets woke excited today after China’s central bank surprised the world by “forcing” a 1.9% weakening of its currency. Most currencies in the world move in a relatively free fashion, i.e. without significant intervention by a country’s central bank. A 2% one-day…
Ever play the game Jenga? The game begins with a carefully constructed tower of individual bricks, and then proceeds as each player removes a brick and tries to keep the structure together. Today’s headlines regarding the latest Greek bailout got me thinking about this maddening game, as I imagined Greece being removed from the Eurozone and the whole stack falling…
My Sister Is Greece, I am the Troika There’s always one black sheep in the family. In my family’s case, that sheep is my sister. While my two brothers and I have worked every day of our lives since we were 10 (started on the farm in Minnesota!), my sister has managed to be unemployed for all of her adult…
