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    1. January 1, 2014

      Upswing optimists say recovery ‘well entrenched’

      Economists are largely positive that the recovery is set fair. Forty-five per cent of respondents believed the upswing was...

    2. FT Alphaville

      February 26, 2013

      The burning of Rome spreads

      The political picture in Italy is looking deeply uncertain. We all know that. But what’s possibly more interesting is the...

    1. FT Alphaville

      January 23, 2013

      LTRO repayment bifurcation risk

      The first LTRO repayment opportunity is fast approaching. David has already considered how it may or may not impact European...

    2. FT Alphaville

      January 11, 2013

      The negative rate bluff

      Negative rates, as we’ve discussed before, are a funny thing. On the one hand they can send an immensely powerful message....

    3. FT Alphaville

      May 15, 2012

      Do not trust the FRA-OIS spread!

      An excellent point from Don Smith at ICAP on Tuesday. If you’ve looked at the eurozone FRA-OIS spread recently and wondered...

    4. FT Alphaville

      March 8, 2012

      Ronia to the rescue

      Or, what to do when your primary funding benchmark is in crisis. The search is on in money markets for an alternative to...

    5. FT Alphaville

      March 8, 2012

      Greek bond and T-bill characteristics on Thursday, March 8

      Literally. (H/T Don Smith.) ...

    6. FT Alphaville

      December 22, 2011

      The LTRO, the switch and the basis swap market

      Were you puzzled by the immediate reaction of the euro following Wednesday’s LTRO? Icap’s Don Smith, has a rather compelling...

    7. December 14, 2011

      Europe’s banks scramble for funding

      Europe’s banks are scrambling for dollar funding, even after central banks moved to flood the system with unlimited amounts...

    8. November 29, 2011

      Markets look beyond Osborne to Europe

      There is only one show in town as far as the City and financial markets are concerned – and it is not George Osborne and his...

    9. September 8, 2011

      Strains rise in short-term eurozone lending

      Strains in the eurozone short-term lending markets have jumped sharply this week amid worries that the sovereign debt crisis...

    10. September 5, 2011

      Banks park record volume of euros at ECB

      Eurozone bank sector tensions have increased the volume of euros parked overnight at the European Central Bank to levels not...

    11. June 20, 2011

      Small eurozone banks struggle to access loans

      Tensions are rising in the money markets for smaller and weaker eurozone banks as they struggle to borrow due to fears of...

    12. June 5, 2011

      Interbank sterling loan rate launched

      A new interbank lending rate, to be launched on Monday, could help protect bank balance sheets from fluctuating interest...

    13. May 9, 2011

      Greek default swaps soar to record high

      The cost of insuring against a Greek debt default soared to a record high on Monday as investors worried about the prospect...

    14. April 18, 2011

      Greek bond fears intensify debt debate

      As the eurozone approaches the first anniversary of the bail-out of Greece, fears of a debt restructuring are intensifying....

    15. April 6, 2011

      Portugal forced to pay ‘prohibitive’ yields

      Portugal was forced to pay sharply higher interest rates in an auction of short-term debt on Wednesday. José Sócrates, the...

    16. April 5, 2011

      Debt downgrade adds to pressure on Portugal

      Portugal’s cost of borrowing soared to more than 10 per cent for the first time since the launch of the euro, following a...

    17. March 21, 2011

      Russia returns Spanish bonds to approved list

      Russia has taken Spain off its investment blacklist as Madrid cut its budget deficit, introduced labour market and pension...

    18. March 15, 2011

      Expectations of early rate rise recede

      Expectations of rate rises in the UK have been sharply pushed back this week amid fears of a reversal in the global economy...

    19. March 9, 2011

      Oil and eurozone fears weigh on equities

      A rebound for oil prices and mounting concerns about eurozone sovereign debt left US and European stock markets on shaky...

    20. March 6, 2011

      Hunt is on for ways to beat price rises

      Last summer, the threat of inflation was the last thing on most investors’ minds. Now, it is the biggest worry for many as...

    21. February 18, 2011

      ECB buys Portuguese debt as yields soar

      The European Central Bank intervened in the markets on Friday for the first time in a week to prevent Portugal’s borrowing...

    22. February 17, 2011

      Emergency ECB lending remains elevated

      Demand for emergency loans from the European Central Bank has stayed at unusually high levels for a second day in a row....

    23. February 13, 2011

      Inflation fears lead investors to bet on rate rises

      Hundreds of billions of dollars have exchanged hands this year in bets on when the next interest rate rises will be in the...

    24. February 10, 2011

      Earnings and Egypt spark volatile trading

      Disappointing corporate earnings, renewed tensions over eurozone sovereign debt and mounting confusion about the situation...

    25. January 30, 2011

      Europe’s banks hint at return to health

      Europe’s banking system is returning to health amid signs that financial institutions are no longer hoarding cash, according...

    26. January 23, 2011

      Rate rise expectations cloud crystal ball

      Market expectations over the timing of the Bank of England’s next interest rate rise have been moved forward significantly –...

    27. January 6, 2011

      Portuguese bond yields near euro-era high

      Portugal’s cost of borrowing rose close to euro-era highs on Thursday as the country’s bond markets came under pressure...

    28. December 9, 2010

      Eurozone crisis boosts default swaps

      As the eurozone debt crisis has intensified, derivatives markets are under scrutiny again. Credit default swaps, a form of...

    29. December 8, 2010

      Eurozone bond markets face testing run

      Eurozone bond markets face a testing run-up to Christmas amid fears the regional crisis could blow up again because of thin...

    30. FT Alphaville

      November 26, 2010

      Eurozone borrowing costs hit record

      The cost of borrowing for the eurozone’s peripheral economies rose to record highs on Thursday amid signs the debt crisis...

    31. November 25, 2010

      Spain issues defiant warning to markets

      Spain has warned financial traders betting against its debt that they will lose money, in a defiant challenge to the markets...

    32. November 11, 2010

      Overview: Irish woes feed EU contagion fears

      Eurozone debt woes dominated the market agenda as concerns intensified that Ireland might soon be forced to follow Greece in...

    33. FT Alphaville

      November 10, 2010

      Irish bond yields leap after selling wave

      Irish bond yields have seen the biggest one-day jump since the launch of the European single currency as a result of a wave...

    34. November 10, 2010

      Bond sell-off takes Ireland closer to tipping point

      In the eyes of bond market investors, the prospect of an Irish bail-out, similar to that of Greece, is growing by the day....

    35. November 10, 2010

      Irish bond yields leap after selling wave

      Ireland’s cost of borrowing shot up to its highest level since the European single currency as a result of a wave of forced...

    36. October 5, 2010

      Eurozone rates hit 14-month highs

      Eurozone money market rates have hit 14-month highs in a sign that strains in the financial system are easing as commercial...

    37. September 28, 2010

      Is Ireland restaging Greek tragedy?

      Ireland is looking more like Greece every day, according to market prices at least. The country’s government bond yields...

    38. September 26, 2010

      Eurozone banks face test as loans expire

      The health of eurozone banks faces a fresh test this week when they are due to roll over the largest amount of loans at the...

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