Lex Greensill, Softbank, credit insurers, fund managers and BaFin all played a part in billions being lost
Memos
RBA to APRA – we’ve set house prices on fire, you fix it
The RBA admits that rising house prices are creating financial stability issues, but it expects APRA to clean up its mess
Credit lessons from the Greensill downfall
For credit veterans Greensill’s downfall isn’t a surprise with many common red flags long associated with this business
It’s (almost) all about the yield
If central banks take away the metaphorical punch bowl, the party would quickly become a riot with asset prices trashed
Neoliberalism is greatly misunderstood
Neoliberalism has lost the marketing battle, but the evidence points to its key tenets producing the best outcome for both rich and poor members of society.
MMT’s key claim is true but simplistic
MMT’s claim that governments can print money is true, but there’s substantial negative consequences which are neither immediate nor blatantly evident to the untrained observer
Too much cash can create a crisis
Financial markets are delirious with stimulus and won’t stop partying until there’s a crash so big that central banks can’t effect a bail out
More cracks are appearing in Chinese credit
The misplaced confidence of Chinese credit investors has been shaken by the default of three state owned entities including one rated “AAA”
What’s the endgame for government and central bank stimulus?
Governments and central banks have embarked on a journey with no clear idea of where they are going, here’s five ways it could end
Welcome to the zombie global economy
The number of zombie companies is growing and current policy settings point to this trend worsening in the years ahead
The leveraged loan market has gone feral
Lenders have responded to a wave of distressed companies and the cancer of weak covenants by going feral on each other
The end finally appears near for NABHA holders
The announcement that NAB is preparing to call NABHA securities is good news for holders, but it is a reminder of common myths about hybrids