Practical analysis for investment professionals

sovereign debt


Markets in Chaos: A Return to the Gold Standard?

The grand monetary experiment of the last decade and a half has undermined the global financial system and necessitates a radical solution.

Book Review: The Paradox of Debt

Dick Cheney said that “Reagan proved that deficits don’t matter.” Richard Vague suspects that Cheney may well have been right.

Public Debt: Four Ways to Deleverage

Should governments ever decide to start deleveraging, how could they do it?

The Debt Ceiling: A Nation Divided and Indebted Cannot Stand

The current debt ceiling debate reveals a painful reality that the United States must confront.

More Than Just Oil: Saudi Arabia’s Improved Credit Rating

Contrary to the popular narrative, oil isn't all that matters to the Saudi economy.

Saudi Arabia’s Journey to Sustainable Sovereign Debt

What does the Saudi Arabian National Debt Management Center's debt strategy look like?

Altman Says Credit Markets Reminiscent of 2006 and 2007

“When you think about credit risk today, sovereign default risk is the number one concern for investors, while the corporate bond market has been relatively benign since 2008–2009,” according to Edward I. Altman, a highly respected researcher of the high-yield bond markets,

Poll: How Will Financial Markets React If the United States Defaults on Its Debt?

The U.S. government will hit the statutory limit on its ability to borrow sometime between mid-February and early March, and unless Congress authorizes an increase in the debt ceiling, the government will not be able to meet all of its financial obligations. While the political squabbling has garnered most of the headlines, there are real financial consequences at stake. In a poll conducted earlier this week in the CFA Institute Financial NewsBrief, we asked readers how they expected financial markets to react if the U.S. failed to resolve its debt ceiling crisis and subsequently defaulted on its debt.

Government Debt: A Gentleman’s Wager

We are three years into a “recovery,” but labor participation is still low, gasoline prices — albeit off their highs — remain at high levels, and economic growth is clearly substandard. So, why can’t the economy turn the corner? I’ll bet you $1 trillion that I can tell you why.

Critical Factors for Evaluating Sovereign Credit

At the 65th CFA Institute Annual Conference, Fitch Ratings Group Managing Director David Riley discussed the critical factors for evaluating sovereign credit. In particular, Riley drew upon lessons learned… READ MORE ›



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