The ECB to Open Liquidity Spigots

Published by Philippe Herlin | Dec 5, 2013

According to the Bank of Italy, of the 255 billion euros borrowed from the ECB through the LTRO, italian banks only reimbursed 15%, or 38 billion euros. So, there still remains 217 billion euros to be paid in 2014... and for Spain, the amounts are just about the same.

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U.S. Debt Becoming A Riskier Asset

Published by Philippe Herlin | Oct 24, 2013

With the shutdown absurd showdown – temporarily – over, we are now faced with having to re-evaluate the U.S. debt in depth. Is it still a safe, risk-free asset, with the Fed backing it forever with new money? This is an important question.

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