bonds

Jim Grant's contention is that you don't need to be a stargazer to be worried about Munis. You just have to look at the low interest rates.  In his view, bond yields do not compensate buyers for the interest rate risk, let alone other…

In this segment on Bloomberg with Tom Keene just after the jobs report was released yesterday morning, Bill Gross continues hammering away at the central banks' easy money monetary policies, the main point of his last newsletter. His…

Bill Gross is at it again. The bond king who has taken a populist turn is out with another monthly investment commentary that features a negative view of Wall Street (God's work) and Federal Reserve monetary policy. I want to hone in on the…

By Win Thin Here are some more thoughts regarding a possible Greek debt restructuring, which was reported today by the Greek press. Reports suggest that the EU, IMF, and the ECB have reached a basic understanding that a Greek debt…

In the video below, David Wessel argues forcefully that we are seeing four big issues. State and local revenue i.e. their tax base has been decimated by the downturn at the same time as many turn to government to keep their heads above…

By Annaly Capital Management Lost in the headlines over the state of the expense side of municipal finances is the fact that tax revenues are rising at the state and local level. The U.S. Census Bureau tracks the various line items of…

By Win Thin In its Fiscal Monitor published in November, the IMF makes a crucial point about growth rates and debt dynamics. It points out that the larger the differential for any country between real interest rates (borrowing costs) and…

Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession  (McGraw-Hill, 2009) and "The Coming Collapse of the Municipal Bond…

By Marc Chandler and the BBH Currency Strategy Team Europe’s debt crisis remains among the most important factors in the global capital markets. By some market-based measures, like interest rate spreads and credit default swap prices, the…

There are no absolutely safe sovereigns — ‘rates analysis’ has to be done simultaneously with ‘credit analysis’ for all sovereigns, including the G3. There are likely to be several sovereign debt restructurings in the euro area…