Author

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

News

Links: 2009-01-06

Edward Harrison Jan 6, 2009

Every time I write a links post this year, I fear getting the year wrong and writing 2008. It is hard to believe we have a new year already. It has kicked off with a bang too. Did you see treasuries yesterday? They were bloody awful.…

Business

The latest on Glencore

Edward Harrison Jan 6, 2009

FT Alphaville, one of my favorite blog sites, has the latest on Glencore and its credit default swaps. They are exploding to the downside for firms issuing insurance against Glencore's default. Here's Alphaville's chart:

Monetary System

Who is Raghuram Rajan?

Edward Harrison Jan 5, 2009

Raghuram Rajan is a bloody good economist, that's who he is. Rajan, who succeeded Kenneth Rogoff at the International Monetary Fund as Chief Economist, is also a prescient voice of reason on any number of different subjects. Recently,…

Austrian banks have emerging-market financial exposure that is 70% of GDP

Edward Harrison Jan 5, 2009

You probably know that I am gearing up for some serious writedowns in Eastern Europe because I see these countries as having external imbalances which will have to be corrected as the economy softens. In previous posts, I had mentioned…

Business

U.S. auto sales plummet: everyone down over 30%

Edward Harrison Jan 5, 2009

The numbers for December are in and they are grim. 2008 was a year to forget in the auto industry. Sales plummeted around the globe as recession took hold. In the United States, every major car company saw sales fall at least 30% compared…

Popular

Byron Wien: Ten Surprises for 2009

Edward Harrison Jan 5, 2009

As the New Year unfolds, it is time for predictions. I have done my part, giving a full account of where I see things headed in 2009 in my post "Top ten predictions for the 2009 global economy" and where I want to see them headed in 2009 in…

Economy

Deutsche Bank: Loan losses will double in 2009

Edward Harrison Jan 5, 2009

Given the fact that this site is called Credit Writedowns, you would expect me to take a fairly skeptical view about the growing consensus regarding a rapid recovery in 2009. I do, in large part because I understand that banks face many…

Markets

Video: Andrew Barry says stay away from treasuries

Edward Harrison Jan 5, 2009

The video below is an addendum to my post on Andrew Barry's Barron's cover story piece regarding Treasury Bonds and the growing consensus to avoid them. While I agree with the consensus about Treasury bonds being a bubble, I expect the…

News

Links: 2009-01-05

Edward Harrison Jan 5, 2009

A number of the following posts are fairly controversial and I present them not so much because I agree, but rather because the ideas presented or the news is worthy of your attention. I highly recommend the Willem Buiter piece at the end.…

Markets

Another take on the treasuries bubble

Edward Harrison Jan 4, 2009

The consensus is coming down on the bearish side for U.S. government bonds in 2009. There is ample reason to believe that Treasuries will be an asset class to avoid this year. Yet, as I argue in a post a few days ago, "rates can go to…

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