The $5 trillion rollover

June 29, 2010

Banks around the world must refinance more than $5 trillion of debts in the coming three years, a massive rollover that poses threats to financial stability and growth.

China move like history in slow-motion

June 22, 2010

Asked about 175 years after the fact what he made of the French Revolution, Chinese Premier Zhou Enlai is said to have thought for a moment and concluded: “It is too soon to tell.”

China hits a welcome turning point

June 17, 2010

CHINA

China’s massive supply of cheap labor may at last be drying up, a development that in time will bring higher wages, inflation, a stronger yuan and help to right dangerous global imbalances.

Of banks and euro zone default taboo

June 15, 2010

If ever you doubted that the euro zone bailout was in fact a bailout of banks, French and German banks in particular, look no further than the latest report from the Bank for International Settlements.

G20 recipe for deflation, protectionism

June 8, 2010

It may be folly or it may be prudence, but the move to fiscal austerity and restraint will be deflationary, will be bad for risky asset prices and will raise further the threat of protectionism.

Euro corporates face sovereign risks

June 3, 2010

For European corporate borrowers, having their own houses in order may prove little help as sovereign credit-worthiness deteriorates.

Carried interest and the big lie

June 1, 2010

As an investment strategy, making private equity and hedge fund managers rich is a probable loser. As a tax policy, it is a guaranteed one.