Edward Altman says the benign credit cycle is in “extra innings,” but the metaphorical relief pitchers — central bankers — are running out of gas. Though most indicators point towards the end of the benign cycle, Altman cannot predict when the stress cycle will begin.
Interest rates are nearing a lower bound, David Schawel, CFA, tells Will Ortel during a recent Take 15 interview. “Most likely we’re not going to be in a 30-year bull market for interest rates falling again,” he said. So what does this mean for fixed-income investors?
What's the cause of the current global economic malaise? Lord Adair Turner believes it all comes down to debt. His proposed solution? Helicopter money, or what he prefers to call "overt monetary finance of increased fiscal expenditure."
In my previous life, as a reporter for the Financial Times, I did a stint covering philanthropy. I heard a lot about social entrepreneurship, philanthrocapitalism, and the ways that some philanthropists and nonprofit organizations were tackling some of the world's toughest, seemingly intractable, social ills.
As the saying goes, it’s tough to make predictions, especially about the future. But it’s manifestly worth the effort because catching big trends is how fortunes are made and catastrophic losses are avoided.
During the global financial crisis, excessive debt was the principal disease. It also turned out to be the principal cure. Whether it was called quantitative easing (QE) or something else, it all meant the same thing: increased debt — both in absolute terms and relative to GDP.
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Global X has brought to Nasdaq an exchange-traded fund that invests in companies involved in cloud computing. The Global X Cloud Computing ETF is linked to the Indxx Global Cloud Computing Index. ETF Trends (16 Apr.)
The Bank of England wants banks and insurers to formulate an approach to manage financial risk from climate change and has laid out supervisory expectations on how that should be done, Sarah Breeden, head of international banks supervision, said in a speech. The Guardian (London) (15 Apr.)
Richard Sandor, who helped create interest-rate futures and carbon-emissions trading, has been meeting with small banks to discuss his interest-rate benchmark as a replacement for Libor. Ameribor is meant for regional and community banks and is tied to rates set on Sandor's American Financial Exchange. The Wall Street Journal (tiered subscription model) (16 Apr.)
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