Practical analysis for investment professionals
04 December 2013

Turning Points: Currency Wars, Growing Signs of a Credit Bubble

Posted In: Weekend Reads

The most important job in the global economy is set to change hands soon as Janet Yellen will be taking over for Ben Bernanke as chairman of the Federal Reserve System.

There continue to be growing signs of a credit bubble manifesting around the globe. In the United States, it appears that credit quality is starting to slip as banks are becoming more friendly to lower credit borrows. In private equity, Blackstone sees an “epic” credit bubble. Real estate in China appears to be frothy. And, with the Federal Reserve presently unable to unwind easing, these bubbles could and should grow in magnitude materially.

Here’s a wrap-up of key issues affecting global markets for fundamental investors.

Currencies

Commodities


China’s Direction

Credit Markets

Derivatives

Energy

Euro Crisis

Hedge Fund Money

Interest Rates and Central Banks

Japanese Debt and Inflation

Stock Market

US Real Estate Bubble 2.0?

Time Capsule


Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

Photo credit: ©iStockphoto.com/sndr

About the Author(s)
Ron Rimkus, CFA

Ron Rimkus, CFA, was Director of Economics & Alternative Assets at CFA Institute, where he wrote about economics, monetary policy, currencies, global macro, behavioral finance, fixed income and alternative investments, such as gold and bitcoin (among other things). Previously, he served as SVP and Director of Large-cap Equity Products for BB&T Asset Management, where he led a team of research analysts, 300 regional portfolio managers, client service specialists, and marketing staff. He also served as a Senior Vice President and Lead Portfolio Manager of large-cap equity products at Mesirow Financial. Rimkus earned a BA degree in economics from Brown University and his MBA from the Anderson School of Management at UCLA. Topical Expertise: Alternative Investments · Economics

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