spain

US stock futures are higher this morning, recouping some losses from yesterday when we saw a 2% reversal in stocks to close on the absolute lows. Stocks opened on high's yesterday, as traders hoped that the Spanish bailout would be a real game changer. However, fears soon rose over the amount of...

In the morning primer, I wrote "Stock futures and other risk assets are up overnight as the Eurogroup agreed to a bailout package of the Spanish banks overnight and Chinese data was not as bad as expected following the surprise rate cuts last week." Well, that was a premature reaction. What we...

As the UEFA European Championship, commonly known as Euro 2012, continues through the first matches of the group stage, an interesting pattern arises. Of all sixteen nations in the tournament, only three nations, the Czech Republic, Italy, and Ireland, have not defaulted since the year 1300....

In a report following up on the Spanish bailout, Credit Suisse highlights the good, the bad, and the ugly of the Spanish bailout. It is true that the speed at which this decision was reached was rather speedy for the Europeans, however more is left to be done. Credit Suisse highlights three...

In the continuing coverage of the Spanish bailout, it is time to consider further debt subordination. Earlier, I wrote about the Spanish bailout subordinating private sector creditors. Well, as it turns out, just as in the Greek PSI, UK law bonds and the Negative Pledge are coming back into play....

As the European Debt Crisis has now taken down its fourth nation, now batting .800 or four out of five, let us discuss the bailout that may not be as stellar as originally thought. As I wrote on Friday, a European TARP could not work, and so the question became of what shape would the Spanish bank...

Good morning on this Monday, and it is a good Monday as we wake up to see a sea of green. Stock futures and other risk assets are up overnight as the Eurogroup agreed to a bailout package of the Spanish banks overnight and Chinese data was not as bad as expected following the surprise rate cuts...

The recent turmoil in Spain has been at the forefront of all investors radars. Whatever the cost of bailing out Spain and recapitalizing its banks may be a priority, the Europeans will be forced to use up the remaining firepower that exists in the bailout funds to do so. Estimates on Wall Street...

Fitch Ratings today announced that they have cut Spain's long-term rating to BBB (compares to BBB+ at S&P so still investment grade) from A, a three notch downgrade, and have kept the nation on negative watch. Fitch also estimates that the required banking recap is as high as 100 billion euros...

Fitch Ratings today announced that they have cut Spain's long-term rating to BBB (compares to BBB+ at S&P so still investment grade) from A, a three notch downgrade, and have kept the nation on negative watch. Fitch also estimates that the required banking recap is as high as 100 billion euros...

Update: EU preparing bailout of Spanish banks through EFSF/ESM mechanism Well the good news for US savers, the answer is most likely no; so long as that bank is not a foreign bank. However, with sovereign finances deteriorating quickly and Spain today saying that it needs help in funding itself, a...

The answer in one word: don't. Stocks had a volatile day, trading down as much as 1.25% this morning before rallying. Rumors of a Spanish bailout circulated earlier this morning, but were quickly denied by all parties. The IMF claims to have simply been discussing the idea of a Spanish bailout...

We all have seen Facebook (NASDAQ: FB) miraculously fall from grace and go from media darling to media devil in about as much time as it takes for high-frequency traders to make millions of trades, i.e. about a second. So, with all of the wealth (well, paper wealth for some) that has been...

This morning, Egan-Jones Ratings slashed its rating of the Kingdom of Spain another two notches, after cutting it two notches last week, to a rating of B. For those who are unsure, Egan-Jones uses a similar scale to S&P and Fitch, so investment grade is above BBB- and sub-investment grade is BB...

Tomorrow is the informal meeting of the European Commission and the European heads of state, which is a meeting to help set the agenda and decide on exactly what they will sign at the formal meeting in June. There will be lots of headlines and quoting of every person there, but I think that there...