Tag Archives: Sovereign Credit

The Haunting (of the Sovereign Bonds)

A consistent theme we have heard over and over this year is that there is no credit risk for a sovereign borrower that has an independent central bank and can resort to debt monetization.   Even Martin Fedstein in his excellent … Continue reading

Posted in Black Swan Watch, Bonds, Sovereign Debt, Sovereign Risk | Tagged , , | 5 Comments

European Commission: The U.S. is Worse

Here is a European Commission chart that appeared in the online version of Der Spiegel.  It could be a decoy to deflect the markets attention off Europe and push back to what they may perceive as America’s wallowing in schadenfreude … Continue reading

Posted in Black Swan Watch, Fiscal Policy, Sovereign Debt, Sovereign Risk, Uncategorized | Tagged , , , | Leave a comment

10-year Treasury Bond Rate At Key Resistance

We’ve posted several pieces on the Treasury market about the bond’s positive technicals versus poor fundamentals.   The 10-year rate is now close to  piercing through key resistance at 2.83 percent.   It is difficult to fundamentally determine why rates are moving … Continue reading

Posted in Black Swan Watch, Bonds, Credit, Equities, Fiscal Policy, Monetary Policy, Sovereign Risk | Tagged , , | 2 Comments