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The Volcker Rule, part of last year’s Dodd-Frank financial regulation law, which debars banks from participating in risky proprietary trading, has drawn stiff opposition from finance ministers from around the globe. A specific tenant of the rule that says that
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If someone were to ask me my opinion on Junk Bonds at present, fool that he would be to ask me because I know real experts elsewhere, I would say this: They are good for a speculative trade, but dumb
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There is no doubt that a perceived and/or actual lack of quality collateral exists in the markets today. Let’s take a look at some of the evidence I see and what it could mean for the markets.
In some cases,
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Yesterday, Reuters’ blogger Felix Salmon in a well-written if somewhat verbose essay, makes the argument that “Greece has the upper hand” in its ongoing negotiations with the ad hoc …and official group of creditors. It would be a great
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By Thomas
Why Denmark has a big debt burden AND low interest rates?
As reported on Bloomberg:
Denmark’s AAA to Survive World’s Biggest Private Debt Load, Fitch, S&P Say
It is true there is a low public debt and high…
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…Chris Estrella, a Filipino social worker, says he led a troop of five porters out of a Mindanao jungle in January 2000 with a weather-beaten iron and leather box crammed with $25 billion of U.S. government bearer bonds.
“The elders
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…It’s that time of year again…
The time when I re-balance my portfolio of index funds.
There’s nothing fancy about this re-balancing process.
It’s not about stock picking (After a decade on Wall Street and several years off, it has
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No doubt a big storyline during 2011 was the massive move lower in Treasury …yields – particularly at the long end. Take comfort Bill Gross – there were no shortage of market experts that missed this move. Consider in late
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…The world is a maze of debt. Debts layered on debts.
The Earth and its productivity is roughly the same or better than prior years. What is the problem with the economy then?
The problem is this: there are entities
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…And here we are thinking we were bearish. As it turns out, compared to London hedge fund Toscafund we are rank amateurs. Reuters reports: “A Greek exit from the euro zone would be worse than catastrophic and could provoke greater
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…What a year to be a fund manager. U.S. stocks were up early, plunged in late summer, then rose again, ending 2011 barely above water. Foreign equities, plagued by debt troubles in Europe and concerns over slowing growth in emerging
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Richard Fisher, a Federal Reserve official, called billionaire investor Bill Gross …an “oddball” at a 2006 meeting — then asked to have the remark withheld from a transcript that was released today by the Fed.
“I’ve known Gross for 20
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During a conversation today with a friend in the fixed income space I remarked how it feels like the chase for yield has been relentless …thus far in 2012. Maybe it is the increasingly positive (if only marginally) US economic
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…From Brazil to Indonesia to the Philippines, emerging-market countries are pouring into the bond market, taking advantage of soaring investor demand to sell debt at record-low interest rates.
Governments and government-linked organizations in the developing world have sold $11.3 billion
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…Hedge funds in New York and London are trying to profit from trading Greek government bonds as European banks brace for losses from a debt swap.
Saba Capital Management LP, founded by former Deutsche Bank AG (DBK) credit trader Boaz
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