Credit Writedowns

By Sober Look High Yield corporate loans (sometimes also called "institutional", "syndicated", "leveraged", "par", or "bank" loans) continue to be in high demand. And it's not only hedge funds and CLOs (see post) who like this product.…

By Michael Pettis Three weeks ago the Wall Street Journal published my OpEd piece about concern that China may try to make the rebalancing process less painful by allowing the RMB to depreciate. In the piece I argue that this isn’t as…

By Marshall Auerback The real weak link now in the Eurozone is Spain, where the data is a disaster. It is Greece writ large. And this is before Madrid, under Prime Minister Mariano Rajoy, has submitted to a new ECB program of agreed…

This is a brief note on Apple since it sold 5 million iPhones at the weekend. I have been saying that the upgrade cycle for Apple would be bullish and it has been as we are seeing record sales. This is due mostly to the fact that Apple's…

Here is today's daily note. I have three main topics to highlight in the links: Romney, Apple and QE infinity.   Romney The Pawlenty defection is a big deal. I don't think I have ever seen anything like it. It's a total meltdown for…

The Kocherlakota speech is important because he was a hawk earlier in the third easing campaign. See last August's post "Kocherlakota: Statement on Dissenting Permanent Zero Policy." Greg Ip writes in two insightful tweets, "Kocherlakota's…

By Sober Look Anecdotal evidence suggests that increasing numbers of western expats are beginning to leave China. A recent article that has gone viral in the expat community in China called "Why I’m leaving the country I loved" describes…

By Paul De Grauwe, Professor of international economics, London School of Economics, and former member of the Belgian parliament and Yuemei Ji, Economist, LICOS, University of Leuven This post was first published at VoxEU Germany’s large…

Stephen Roach makes some good points in the Bloomberg Television interview from September 14th below. He talks mostly about China in a tete-a-tete with Gordon Chang later in the broadcast. Don't miss that. But on the US at the beginning of…

Today's links are just on tech. The iPhone 5 is poised to break all records when it comes out. While this is a much-needed boost for Apple given the doubts about its product cycle, the phone is clearly inferior to phones now being released…