A lot of the cash that’s been created over the past few years is sloshing around the world trying to find somewhere to hide. There has been a huge bid for anything deemed a safe haven asset, a bid that…
Monthly Archives: July 2011
-
There is a shining light amidst the storm of the European sovereign debt crisis. Europe’s largest economy, Germany, is booming. Since June 2009, the German Federal Statistical Office has had the pleasure of notifying financial markets that the German unemployment…
-
Forget stress tests – ring fencing banks from sovereigns is the real issue
- Topics
- debt, EBA, Europe, European banks
Posted July 19th, 2011
So the results of the bank stress tests are out. Do they add anything from an investor viewpoint? Well, despite the best efforts of the European banking Authority, we didn’t get the harmonised EU data we were hoping for. To…
-
This weekend’s family activity centred on the final film in the Harry Potter series, Harry Potter and the Deathly Hallows, 10 years on from when we saw the first instalment of the magical film series in 2001. Meanwhile in the…
-
European bank stress tests, Road to Nowhere or Highway to Hell?
- Topics
- European banks, Eurozone, Sovereign Debt
Posted July 14th, 2011
The European Banking Authority’s bank stress test results are due out on Friday evening. Do the results mean anything or is it one for the talking heads? In our view it is a bit like taking a driving test –…
-
By nature I would say I have a tendency towards pessimism. Hopefully the odd sleepless night is a price worth paying for a successful career in bond investing, however it does leave me worrying (there’s the pessimism) that I could…
-
UK Retailers – looking for bargains during the summer sales
- Topics
- high yield, inflation
Posted July 11th, 2011
One section of the European high yield market that has materially under-performed this year is the UK retailer and food producer complex. The rationale is fairly easy to explain: these companies are being squeezed by cost input inflation on one…
-
So now we know that the firewall was indeed an illusion. We had the biggest ever sell off in Portuguese and Irish CDS on Wednesday (and the second biggest sell off in Greece CDS), and now it’s a bloodbath in…
-
The main purpose of the European Central Bank (ECB) is to use orthodox monetary policy with regard to setting money supply and interest rates to achieve price stability. Today, Trichet reiterated this by restating his desire to “create price stability…
-
Portugal downgraded to junk – Portuguese corporates ejected from the credit indices
- Topics
- Europe, Sovereign Debt
Posted July 6th, 2011
As a direct consequence of Moody’s downgrade of Portugal to sub investment grade, now Ba2 to be precise, Portuguese corporate bonds will be removed at month end from Bank of America Merrill Lynch’s (BofAML) main investment grade and high yield…
Download or order a hardcopy of the 5th Anniversary Bond Vigilantes book and make a donation to Cancer Research UK
Recent videos from iView
By clicking on these links you will be visiting iviewtv.com
Play video - 
Play video - 
Play video - Bond Vigilantes-Asia Research Trip
Play video - Bond Vigilantes- Quizzing the experts
