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A novel way of paying off debt – issue more of it, the savings are already accruing. It’s official, Nigeria is in a recession. Headlines * WSJ - Food Price Deflation Cheers Consumers, Hurts Farmers, Grocers and Restaurants 8/29. "The U.S. is on track this year to post the
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It’s getting hot out there. When picking your emerging market investments, be mindful of its exposure. Headlines * WSJ - Russian Builds Up Army Near Ukraine Border 8/19. "Russia's plans around the Ukrainian border show a real intent to use force if needed." - Anton Lavrov * FT
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Helicopter money coming to Japan? GMO on EU immigration and the Brexit. Hong Kong and China at a cross road. ECB coming up against its quantitative easing boundaries. Headlines * FT - BP draws line under Gulf spill costs 7/14. All told BP's costs from the Deepwater Horizon disaster
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The bad debt in Italian banks is looking like a BIG problem. The world has become more reliant on Middle Eastern oil. Not looking so rosy for hedge fund reinsurers. Headlines * Bloomberg - Spain Runs Out of Workers With Almost 5 Million Unemployed 6/30. "The unemployment rate is too
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Japanese banks wary of property risks. Negative-yielding sovereign debt jumps to $11.7tn. This week all the media outlets were blanketed with coverage on the Brexit and of course the synopsis varied from catastrophe (a lot of money was lost in the equity markets around the world immediately – which
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The shipping world is about to change with the opening of new Panama Canal locks. U.S. shale reserves: now you see me, now you don’t. Headlines * FT - Coal use plunges as China cuts back and US turns to gas 6/8. "Global consumption and production levels for
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Remember, crises end (oil prices most likely won’t stay low forever). Headlines * WSJ - Apple Takes Billion Dollar Detour to Fix Troubles in China 5/13. Apple uses one of its $233bn in cash and the like to take a stake in loss making Didi Chuxing, the synergies appear limited,
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Even Apple isn't immune to Chinese oversight. China debt load is piling high. Retailer existential crisis. Headlines * NYT - U.S. Suicide Rate Surges to a 30-Year High 4/22. Things aren't hunky dory for a lot of people. * FT - China's debt-shrinking machine
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The virtuous cycle of Chinese real estate development. Global liquidity trap. What’s driving the China M&A boom? In an effort to ease readability and to assist with navigation of the weekly posts I have updated the format this week. I am removing the featured articles/themes from
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Chinese exports plunge – and a glimpse of China in 2025. $5 trillion of negative-yielding Japanese debt, but that’s only part of the problem. Midstream energy companies feeling a bit exposed. Three articles that stood out this week are 1) Shawn Donnan, Chris Giles, and Gabriel Wildau’s "
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Evergreening of debt in China. Japan becomes second country to sell negative 10-year bonds. Structural changes in global trade. Three articles that stood out this week are 1) Alex Frangos’ "How China's Big Lending Push Comes Up Short" in The Wall Street Journal, 2) Lew
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Negative yielding government bonds. Lending to Emerging Markets hits the brakes. Japanese 10-year bond crosses the zero bound. Three key articles that stand out this week are 1) Elaine Moore, Robin Wigglesworth, and Leo Lewis’ "Government bond yields send recession signal" in the Financial Times, 2) Jonathan