Following the downgrades of Greece (to junk) and Portugal (to A-) on Tuesday, S&P looked upon the carnage in sovereign bond markets that ensued and decided that on Wednesday it would be Spain’s turn. Spain’s sovereign credit rating was cut…
Monthly Archives: April 2010
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If it's Wednesday, it must be…Spain. Tail wags dog.
- Topics
- credit rating, government bonds
Posted April 29th, 2010
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Exactly one year ago, an outbreak of flu in Mexico led to fears of a global pandemic. ‘Swine Flu’ did indeed spread around the world, however for most countries it had only a limited effect on economic output. We are…
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European corporate hybrids – the centaurs of the bond world
- Topics
- corporate bonds
Posted April 23rd, 2010
Guest contributor – Vladimir Jovkovic (Credit Analyst, M&G Credit Analysis team) By now we are all well aware of the economic problems that Greece faces. Certainly we have mentioned Greece a few times on this very blog. But let’s not…
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The past couple of days have seen Greek debt take a bit of a battering. Spreads on Greek government bonds are the widest they have been since the inception of the Euro, and Greek 5yr CDS is wider by 100bps+…
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Democratic governments are designed and exist to promote and protect the interests of their population. Thus they tend to be described as “good”. Capitalists are seen to be out for themselves and therefore acting in their own selfish interests. They…
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Today the date for the UK general election was announced. May the 6th it is. It is once again time for British citizens to place their X to choose the future direction of the country. From a UK bond investor’s…
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The granting of independence to the Bank of England following Labour’s victory in the 1997 UK General Election caused a collapse in inflation expectations. Whilst inflation expectations had been drifting down anyway, thanks mainly to globalisation and a demographic productivity…
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