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A roadmap for Europe after the German elections 23 Aug 2013 | 01:30 pm
August is usually a dull month in German politics. It’s holiday season, and national parliamentary politics takes a break at the same time. However, this year German politicians don’t have time to put...
Lower for longer – the path to Fed tightening 22 Aug 2013 | 04:35 pm
The disclosure of the latest Federal Open Market Committee (FOMC) meeting minutes last night has pushed the US bond market to new lows for the year, further extending the current bear market in world ...
Tier 1 capital: too much faith in a Q&A, or why didn’t you call me? 21 Aug 2013 | 06:58 pm
It turns out that market participants may have put too much faith in the European Banking Authority (EBA). The EBA’s answer to a submitted question indicated that non-called bank Tier 1 instruments – ...
Interest rate duration or defaults – which is the lesser of two evils? 21 Aug 2013 | 12:28 pm
So far this year returns for the high yield market seem solid if unspectacular; 2.9% for the global index, 4.5% for Europe and 3.4% for the US. However, these overall numbers mask some interesting gyr...
Mr 7 percent – exploring unemployment in the UK 14 Aug 2013 | 06:48 pm
The governor at the Bank of England stepped forward last week with guidance about its future plans and conditions regarding the tightening of monetary policy. Ben gave his views on the announcement he...
Monster Munch update – a victory for bondvigilantes.com 13 Aug 2013 | 02:37 pm
One of our most popular posts of all time was written back in 2011. The subject was not the US losing its AAA rating, the impact of the default of Lehman Brothers or any other weighty matter of great ...
In search of satisfaction – our analysis of the BoE press conference 8 Aug 2013 | 05:55 pm
Listening to the Bank of England Quarterly Inflation Report press conference – the first with Mark Carney steering the ship – a song immediately sprung to mind. The song was written by a former studen...
Panoramic: The Power of Duration 8 Aug 2013 | 04:28 pm
The early summer surge in bond yields will have focused the minds of many investors on the allocation of assets in their portfolios, particularly their fixed income holdings. The largest risk to a do...
Small business, big deal – a look into peripheral SMEs 1 Aug 2013 | 02:50 pm
It should come as no surprise to any investor that European banks are still too large. Despite having reduced their balance sheets by around €2.4tn since 2011, they continue to have the world’s larges...
The arguments in favour of the euro surviving 31 Jul 2013 | 02:06 pm
Poor economic growth prospects, high unemployment, large debt burdens, poor public finances – it is all too easy for analysts and economists to say that the euro won’t be around indefinitely. Yet here...
