This is how beggar-thy-neighbor monetary policies work, and perhaps why they ultimately fail.» Read More
Bond king Jeff Gundlach likened municipal bonds to subprime mortgage bonds on CNBC’s Strategy Session on Wednesday.
Day after day, we continue to read stories on the budget battles and heated union protests in some states around the country. I don't know about you, but I'm getting tired of all this negativity.
I decided to seek out a local government who is doing it right for a change and my pursuit sent me to the sunny, sandy shores of the U.S. unicorporated territory of Puerto Rico.
The junk bond derivative party is kicking back into high gear.
A report in today's Financial Times notes the uptick, and points out:
Investors in municipal-bonds should be very worried when the Wall Street Journal is running the headline “A Deep Freeze Hits The Muni Market.”
The facts are grim. Muni-bond issuance is on pace for its lowest quarter in at least 11 years.
Pimco has dumped all of its US Treasury bond exposure in its flagship Total Return Fund.
The Obama Administration’s $20 billion proposal to try to force banks to modify mortgages looks an awful lot like an attempt to revive the $20 billion bank tax that was rejected during the negotiations over Dodd-Frank.
Advocates of creating a no-fly zone over Libya continue to push the line that it can be done antiseptically, almost peacefully.
Douglas Barrie, an aerospace analyst at the International Institute for Strategic Studies, denied Defense Secretary Robert Gates argument that the first step in creating a no-fly zone would be bombing Libya’s air defense installations.
Little Market Confidence in Europe's 'Joke' Stress Tests [CNBC.com via Financial Times]
Wow! Bill Gates is no longer the richest man in the world [Forbes]
Attention fellow "old sports" the 'Great Gatsby' mansion to be razed [NYDailyNews]
Sallie Krawcheck, head of Bank of America's wealth management division, has a reputation on Wall Street for being smart, charming, and impeccably honest.
But her job—squaring the circle between Merrill Lynch's brokerage culture and BofA's banking culture—presents what business strategy types call a non-trivial challenge.
\('Non-trivial challenge' is management speak for a job in which you are at least as likely to fail as to succeed.\)
The "doom loop" is shaking up stock markets as worries of negative interest rates in the US may come.
The rivalry between Bill Gross and his former company Pimco looks set to hinge on the U.S. economy this year. FT reports.
Tender issued for euro-denominated unsecured bonds worth 3 billion euros and dollar-denominated bonds worth $2 billion.