Akdeniz krizi “dev”lesirken, dusuncelerim
Written on April 28, 2010 by ozan
WHAT DO I THINK HERE? GETTING MORE SERIOUS BY EVERY DAY EU LEADE
RSHIP CANNOT PROVIDE A PACKAGE OR EUROPEAN MONETARY FUND STYLE S
OLUTION NOW.. We are in a similar situation for EU Sov CDS in 20
10 as we were with US banks CDS in 2008.. The difference is righ
tly or wrongly, the US government was able to “kill” the uncerta
inty by TARP (after a failed attempt).. **So far, the EU ship ag
ain seems to lack a captain & headlines like “10 bio more from I
MF” won’t help.. In fact, for Portugals and Spains not to be “fo
llowed”, a more structural solution is needed.. ** Also FOMC nig
ht.. “Extended period” likely to remain.. In rates overall, this
world again looks more & more unlikely for big hikes around..**
Speaking of which, we expect 50 bps hike in Brazil COPOM. Some i
n market expects 75 bps..**South Africa inflation at 10:30 important
