Daryl Jones: Even the bears aren’t bearish enough on Spain’s coming sovereign debt problem

Posted by Kendall Harmon

We often say that investors can be bullish, bearish, or not enough of either. "Our debt is clean, we will not have to ask for help," said Elena Salgado, Spain's finance minister, on April 30th, appealing to the bulls. That is, if there are any bulls left in sovereign debt.

Currently, there is no shortage of bearish sentiment regarding global sovereign debt issues. In recent weeks, Greece, Portugal, and Spain have all had their credit ratings downgraded, with Greece taking on junk status. Yet despite this flurry of negative news, I would submit that investors are still not bearish enough, particularly on Spain.

Read it all.

Filed under: * Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeCredit MarketsHousing/Real Estate MarketLabor/Labor Unions/Labor MarketThe Banking System/SectorThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General* International News & CommentaryEuropeSpain

1 Comments Posted May 5, 2010 at 12:06 am

To comment on this article: To article and comments

<< Back to main page

The URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/29842/

© 2014 Kendall S. Harmon. All rights reserved.

For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com