Why the Fed’s Bazooka Will Not Stop a Wave of Corporate Defaults
By Benn Steil and Benjamin Della Rocca Acknowledging the enormous threat to jobs and incomes posed by the coronavirus epidemic, the Federal Reserve on…
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Leveraged Loans – History Rhyming?
Despite three Federal Reserve rate cuts, leveraged loan credit quality is rapidly declining Covenant-lite issues now account for more than 80% of US$…
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Benn Steil: Did Russia Really Dump Its U.S. Debt?
Russia dumped 84% of its American debt,” blared a July CNN headline. Russian central-bank head Elvira Nabiullina said the sales were just part of “diversifying the entire structure…
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Zero Hedge — Citi: “There Is A Massive Problem” With The Bond Market
Is the global economic recovery over? That is the question investors are grappling with just as Q1 earnings season – the best since 2011 with its…
Read MoreDoug Casey: Comparing the 1930s and Today
You’ve heard the axiom “History repeats itself.” It does, but never in exactly the same way. To apply the lessons of the past, we…
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Ease this
“There is no simple, painless solution. The world has to reduce debt, shrink the financial part of the economy, and change the destructive incentive…
Read MoreBIS Quarterly Report: “If I were you, I wouldn’t start from here.”
The latest BIS quarterly report can be found here: http://www.bis.org/publ/qtrpdf/r_qt1509.htm Relative to the IMF, World Bank and national central banks around the…
Read MoreInvesting in the right place
“That men do not learn very much from the lessons of history is the most important of all the lessons of history.” – Aldous…
Read MoreCobden Partners on Radio 4
The Cobden Centre contributor and Cobden Partners founder Gordon Kerr was featured on BBC Radio 4’s Today yesterday talking about Kevin Dowd’s recent paper…
Read MoreOn not adding, but taking away
“Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.” – Charlie…
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