Our good old friends at @DeutscheBankAG have been at it again… this time (h/t to @macromon) raking in $1.6 billion of freshly announced losses from pre-Global Financial Crisis trades in municipal bonds. Story at WSJ: https://www.wsj.com/articles…
More addictive than crack or opioids, corporate debt is the sand-castle town’s equivalent of water: it holds the ‘marvels of castles’ together, util it no longer does…Source: https://twitter.com/lisaabramowicz1/status/1098200828010287104/photo/1…
In recent months, I have been warning about the cliff of new bonds issuance that is coming for the U.S. Treasuries in 2019, pressured by the declining interest in U.S. debt from the rest of the world. December 2018 figures are a further signal reinforc…
Venezuela’s economic (and political, social, public, etc) woes have been documented with exhaustion, although no one so far has produced a half-meaningful outline of solutions that are feasible and effective at the same time.Take for example, the @IIF …
Summarizing the U.S. economic ‘themes’ of the last 21 years:or put differently: 13 years of ‘ugly’, 8 years of ‘euphoric’.Source for the great chart (ex-my annotations): https://www.topdowncharts.com/.
Debt… Sovereign debt… and Valentines…A decade post-GFC, we are still shedding love to our overly-indebted sovereigns… so nothing can ever go wrong, again…
H/T to @soberlook:U.S. Federal deficit was up $192 billion y/y in December 2018. Nothing to worry about, as fiscal prudence has been the hallmark of the Republican party policies since… well… since some time back… That, plus think of what f…
Based on the latest data through January 2019, Eurozone’s economic problems are getting worse. In 4Q 2018, Euro area posted real GDP growth of just 0,.2% q/q – matching the print for 3Q 2018. Meanwhile, inflation has fallen from 1.7% in December 2018 t…
There is no reason to panic about global growth. None. None at all…Source: topdowncharts.comNothing to see here. Because, obviously, structurally and statistically lower growth in trade turning negative on foot of Baltic Dry Index literally collapsin…
The last eight years of Euro’s 20 years in existence have been a disaster for the thesis of economic convergence – the idea that the common currency is a necessary condition for delivering economic growth to the ‘peripheral’ euro area economies in the …
