Further further reading
For the commute home, - How the business of international banking has changed over time.- Calculated Risk calls a housing price bottom: March of this year.- US economic conditions improving....
The unemployment exit race and structural impairment
We found a couple of items from a Credit Suisse note commenting on Friday’s jobs report to be interesting and worth discussing in some detail.First is a bit of commentary...
January effects in credit
It’s been a rather optimistic sort of January. S&P financials are finally trading above book value (but with wide variations between individual banks), junk bond issuance...
Freight rates go negative
Negative bond yields, negative repo rates, and now… negative freight rates. At least route-specific ones.Bloomberg has the story here (our emphasis):Glencore International...
You either love it or you hate it, Morgan Stanley edition
This Bloomberg Markets headline (koan?) attracted puzzlement on Monday:Gorman Embracing Vegemite in New Wall Street’s 15% Bogey at Morgan StanleyThe anecdote behind the headline...
The currency pair league table
$/€ races ahead of $/£, $/¥ and $/SFr, but $/AUD has made a strong run from behind…Actually, the thing that jumps out from Table 4 of the most recent FX trading survey...
China’s hard landing odds, updated
Remember Nomura last year estimated there was a 1-in-3 chance of a hard landing in China?Anyway, they’ve updated the index on which it was based. Nomura’s chief...
Otto’s revenge
- Parachuted in by the great powers of the time- Specifically, parachuted in by the great powers of the time to ensure Greek payment on their sizeable official loans- Subordinating...
That statement-in-full from EFG-Hermes…
Unexpurgated:The company learnt yesterday that Mr. Yasser El Mallawany, the Chief Executive Officer of the company was banned from traveling.That’s it. Not even a contact number....
Further reading
Elsewhere on Monday,- Go to the gym and stop reading the doomers.- Though… Krugman on jobs: “no, things are not O.K. — not remotely O.K.”- Theorising...
