A Brave New World for Value Investing
Stock markets have rebounded from their March lows on fiscal and monetary stimulus Corporate bond spreads have narrowed in their wake The prospect…
Colin has worked in the financial and commodity markets since 1981. He started his career in physical commodities moving on to a futures and options brokerage in 1987. Here he focused on servicing bank proprietary traders, global macro and relative-value fixed income hedge funds together with managed futures advisors. He was also instrumental in the development of interest rate and credit default swaps businesses. In December 2013 he launched a macroeconomic newsletter – In the Long Run – focussing on macroeconomics and financial markets. He has recently became a director of AAIN - Asian Alternative Investments Network – a non-profit industry group with which he has been involved since its inception in 2007.
Stock markets have rebounded from their March lows on fiscal and monetary stimulus Corporate bond spreads have narrowed in their wake The prospect…
A European fiscal spending package worth Euro 540bln has been agreed Eurozone bonds have crashed and recovered Corona Bonds have been found unnecessary…
As the COVID-19 pandemic gathers momentum, history offers too few data points The Spanish Flu is the nearest comparison – similarities are matched…
The coronavirus is a human tragedy, but the markets remain sanguine A slowing of global growth is already factored into market expectations Further…
Despite three Federal Reserve rate cuts, leveraged loan credit quality is rapidly declining Covenant-lite issues now account for more than 80% of US$…
Last month’s squeeze in overnight domestic US$ funding rattled markets The Fed responded rapidly but the problem has been growing for some time…
The risk that the Sino-US trade war morphs into an international currency war has risen The US$ Index is up since 2010 but its…
The amount of negative yielding fixed securities has hit a new record The Federal Reserve and the ECB are expected to resume easing…
Interest Rates, Global Value Chains and Bank Reserve Requirements Global Value Chains have suffered since 2009 Despite low interest rates, financial costs remain…
Will the Sino-US trade war breed contagion? Will the dispute trigger a global recession? Has the era of freer trade ended? Will asset…