bonds

CDS buyers hate it, as do holders of Italian, Spanish, Irish, and Belgian bonds. Portuguese bond holders are just fine. There was no reaction in Austria, Germany and France.

Controversial Italian Prime Minister Berlusconi appears to have finally capitulated to international and domestic pressure. Press reports indicate that he has agreed to step down by January. This in turn will bring forward elections,…

Recipients of government spending can hold receipts in the form of a bank deposit, can withdraw cash, or can use the deposit to spend on goods, services, or assets. In the first case, no further portfolio effects occur. In the second case,…

According to China Daily, China owns $1.13 trillion of US debt. China has $3.20 trillion in foreign exchange reserves.

This chart shows how the Italians have suffered in the sovereign debt crisis. It is as if the ECB never bought bonds.

Look at these charts that Win Thin has crafted on sovereign bond spreads. this is what I want to discuss.

Municipal bondholders have something else to worry about. If Occupy Wall Street has legs, and, if labor unions handcuff the protestors' agenda ("Major Unions Join Occupy Wall Street Protest" - New York Times, October 5, 2011), will that…

I see this as a macro call. High yield is attractive if you think that the economy will rebound. if not, the extremely low high yield default rate will rise considerably, as will yields.

The problems Italy faces may have deeper roots than simply the current prime minister. It is not clear that the opposition offers a significantly different agenda rather than different personalities. ECB bond buying of Italian debt…

In October 1993, when Andreas Papandreou was re-elected as prime minister, Greece's liabilities exceeded 100 percent of gross domestic product. The national debt was 114 percent of gross domestic product. Inflation was more than 14 percent…