Italian downgrade
Commentators have been having fun at the expense of the credit rating agencies recently, pointing out that after their downgrades markets have been upgrading various securities. It’s tempting to think...
View ArticleBuchheit’s Greek lessons for Madrid
Lee Buchheit is a man worth listening to. The Cleary Gottlieb lawyer wiped €100bn off Greece’s debts when he restructured the country’s bonds at the expense of the private sector, in just the latest in...
View ArticleIs RoRo mode back on?
Politics is back on the agenda for investors. Spanish and Italian bond and stock markets took a tumble, reacting to a spreading slush fund scandal in Spain’s ruling Popular party and rising support for...
View ArticleSterling’s Italian job
Uncertainty over the outcome of Italy’s election has strengthened sterling as its safe haven status appeals, in spite of Moody’s downgrade of the UK. James Mackintosh, investment editor, examines the...
View ArticleLarry Summers, correlation and recency bias
Former US Treasury Secretary Larry Summers warned of the dangers in the eurozone in his latest op-ed for the FT, and it is hard to disagree. But part of what he said bothered me: A worrisome indicator...
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