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Inflation running away in Venezuela. The ‘whale’ in the market is you – or really your proxy by way of the government. Barbarian insurers in China are pissing off the securities regulators. China’s banks hiding more than $2tn in loans. A rise in US interest rates are likely to put
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The Chinese housing market is looking rather shaky. Investors are going to have to brush up on their social sciences. China is smarting from an aggressive push into developing world loans. Headlines * FT - Insurance sector worried as insurtech start-ups cosy up to customers 10/13. "According to a
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Xi Jinping, the master politician. In the US oil and gas industry it’s about time for some more culling of the herd. Uber providing transportation solutions for US municipalities. Headlines * FT - China's renminbi joins elite global reserve currency club 9/29. On October 1, the renminbi joined
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Venezuela on the brink. This post is number 52. A full year down and I hope that you’ve found value in the Janus Observer. Thank you for everyone that has been following this blog. More to come. Sincerely, J. Duff Janus Headlines * FT - Niger Delta militants attack oil pipeline
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Chinese corporate debt…geez…Someone’s going to have to take a haircut. US pension crisis. Headlines * WSJ - China's Property Bubble Keeps Getting Bigger 9/19. "With so many parties including banks and local governments all depending on real estate, it may not make sense for them
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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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Coming to a bank near you - fees on big deposits Headlines * Investor Demand for Bond Funds Relative to Stocks Is Highest on Record 8/11. Basically investors believe there will be more monetary easing to come, meaning lower rates, hence appreciation in bonds. * NYT - Hard Times in Venezuela Breed Malaria
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It’s a low-growth world for us…instead of high returns, we get zilch… Thus it is no surprise that funds are being pushed back to emerging markets in a big way. Headlines * WSJ - Annuity Loss Adds to MetLife Drama 8/4. MetLife just took a $2 billion charge
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Insurers having to rethink their business model. India makes a giant leap forward in tax reform. Headlines * FT - Venezuela's armed forces tighten grip as food crisis grows 7/29. Maduro has handed over more powers to General Padrino Lopez making him "the most powerful man in Venezuela.
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Eight massive shifts underway in energy. U.S. men of prime working age are dropping out of the labor force. Venezuela on the brink of social and economic collapse. Headlines * WSJ - Global Bonds: Even Further Through the Looking Glass 6/16. Long dated bonds continue to fall - generating outsize returns,
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Loans taken out by commodity rich countries in the good old days to be paid back in oil have become a major liability. The financial outlook for Chinese firms isn’t looking so good. Negative yields on corporate bonds – hey, it’s better than what you can get for the
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Venezuela about to become a formal dictatorship. Container shipping industry going through one of its (if not the worst) downturns. A handful of US tech companies are flush with cash. Headlines * Bloomberg - Venezuela's Military Needs to Get Out of Business 5/6. "Venezuela has more than 4,