Practical analysis for investment professionals

sovereign debt


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 ›

The Japanese Debt Crisis (Part 2): When Does Japan Cross the Event Horizon?

Social spending is virtually exploding in Japan right now, and at the same time its population is aging. Can the event horizon for a debt crisis be that far off?

The Japanese Debt Crisis (Part 1): Has Japan Passed the Point of No Return?

Some of the best-known research on financial crises asserts that countries get into trouble when debt-to-GDP ratios surpass 80%. With a national debt that now checks in at roughly 220% of gross domestic product, Japan, at least by rule of thumb, should have collapsed a long time ago. Yet Japan has — thus far — somehow avoided a debt crisis.



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