Yeah, but he represents the middle ground in the Fed. If He's dovish, Yellen will be much more dovish.
Don't be fooled pausing the taper is definitely on the table. Bullard isn't talking in a vacuum.
Good - market needs more drugs. Time to stop this senseless decline. In Bullard we trust.
It matters only in your mind. Greece is meaningless to the world at this point.
Greece doesn't matter anymore. Their funding needs going forward are minimal. Only 15% of the debt is held privately. Completely meaningless. Italy and Spain are the ones that matter and they are holding.
OK. If a move from 2% to 2.16% is a "HUGE" meltdown, then yeah, you're right. There's a little panic right now, but it's nothing more than a panic over declining growth. There's no big "Black Swan" that's going to cause a prolonged downturn.
Spain 10 year @ 2.16%. Italy 10 year @ 2.46%. Real bloodbath. LOL.
And with all these problems, they are still able to generate a significant primary surplus. Greece has bottomed.
All in less than 1 hour. No news.
Only 15% of Greek debt is held by private owners. Greece will restructure that debt over a very long time period with virtually no interest payments for 10 years - same as the official debt. They will also cut interest on the official debt.
Overall, Greece will have to pay very little interest over the next 10 years. They already have a primary surplus and that will allow them to increase spending moderately over the next decade.
I won't buy anything. Germany will buy - they hold 80% of the debt as is. Germany can sell bonds @ -0.1% and buy Greek bonds @ 1%. That's a great carry trade for the German people.