Credit Writedowns

Highlights The US dollar is broadly lower, following a successful Spanish bond auctions and indications that the Swiss National Bank is not prepared to continue the heavy intervention that was reported last month.  After a slow start…

Jon Stewart manages to be funny while still skewering President Obama for not living up to a lot of his campaign promises. Not exactly change you can believe in, is it?

Matt Simmons says 120,000 barrels a day are leaking from the hole where the Deepwater Horizon rig blew up in April. He also says scientists cannot detect where the well bore was, so the casing in the hole is gone. Simmons says this…

Hat tip Stevie.

By Annaly Capital Management. What is a dollar? As far as we can tell, there is no legal definition of what it is, no statement that begins, “The dollar is…” Instead, the dollar is something that is defined by other things. When the…

As it seems that we are finally about to get something which resembles a stable summer here in Denmark it may seem strange to suddenly start talking about snowballs. Yet, the idea of debt snowball is very relevant in the current environment…

Moody’s upgraded Chile to Aa3 (equivalent to AA-), citing its “financial resilience” after the Feb earthquake.  Moody’s also praised years of solid macro policies, the fiscal surplus rule, and low debt as other factors behind the…

There have been several press reports in recent days, all vehemently denied, that a multilateral effort is underway to put together a special aid package for Spain.  Often times, one hears "where there is smoke, there is…

I am trying to make sense of the revaluation talk that surrounds the Sino-American trade relationship. Here are some thoughts on the issue.  Your comments are appreciated. In the 1920s, the United States was the Alpha Creditor…

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