Anyone monitoring the risks in the global financial system knows that those of us who lend to banks are increasingly asking for some kind of security in order to do so. Issuance volumes for covered bonds have increased and more…
Tag Archives: default risk
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The “safety race”: the systemic implications of the bank asset grab
- Topics
- Bank of England, banking, credit risk, default, Uncategorized
Posted April 26th, 2012
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The big credit headline this week in the sterling bond world is that the UK gilt market has been put under review by one of the top three rating agencies Moody’s, for a downgrade from AAA to AA+. As bond…
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France has started wobbling again recently. France 10 year government bond yield spreads over Germany have blown out from just under 100 basis points at the beginning of December to 150 basis points today, although this is still a bit…
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US downgrade and ECB bond buying: conference call replay details
- Topics
- AAA rated, credit rating, US
Posted August 9th, 2011
Yesterday Jim did a conference call covering both the S&P downgrade of the US sovereign credit rating and the ECB’s massive buying of Spanish and Italian government bonds. You can listen to a recording of the call and view the…
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We’ve written recently about the bond world going ‘topsy turvy’, in that a consequence of QE may be that the higher inflation economies could end up with having lower yielding sovereign bond yields than the lower inflation economies. Another way…
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Free lecture series at the London School of Economics
- Topics
- credit rating, Europe
Posted June 18th, 2010
Being the intellectuals that you are, we thought you might find some of the upcoming events being held at the London School of Economics (LSE) of interest. On the 30th of June they have Andrew Ross Sorkin discussing the development…
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Britain has run debt to income ratios way in excess of current levels at several points in its history. Around the times of the Napoleonic War, and both the First and Second World Wars the debt to income level exceeded…










