Global Macro Perspectives
Well I must admit that I don’t have a clue what’s happening in the markets now. The markets opened positive on large positive surprise in non-farm payrolls and in mid of trading everything reversed. Three reasons come to my mind: first is a deeper look in unemployment numbers; the second one would be the new […]
Back to norm. Dubai World announced debt restructuring talks on (only) $26 billion debt, and the crowd has gone wild. WSJ story (with nice interactive extras): Dubai World in Talks on Debt Restructuring. The dollar is falling again, risky assets are rising and the saga continues. New addition to the situation is The Bank of […]
Looks like markets are dismissing the potential Dubai World default as a catalyst for a meaningful correction. Nice outline of the situation by Telegraph: Dubai’s financial crisis: a Q&A. If the markets dismiss this as a not strong enough catalyst it will show the strength of the belief of the global economy is recovering. I […]
First of all, happy Thanksgiving Day to my U.S. readers! Market moving news of the day is definitely Dubai World asking its creditors a “standstill” as it tries to negotiate a extension of maturities for its debt. Bloomberg story: Dubai Debt Delay Rattles Confidence in Gulf Borrowers. Oh, what a surprise, they invested billions in […]