Showing posts with label leverage. Show all posts
Showing posts with label leverage. Show all posts
Friday, April 17, 2020

16/4/20: Lessons in Corporate Finance: COVID19

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My article summing up some corporate finance lessons from the COVID19 crisis is now available at The Currency :  https://www.thecurrency.n...
Sunday, January 5, 2020

5/1/20: EU's Latest Financial Transactions Tax Agreement

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My article on the proposed EU-10 plan for the Financial Transaction Tax via The Currency : Link:  https://www.thecurrency.news/articl...
Saturday, December 14, 2019

14/12/19: Governance and Government Debt

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What I am reading this week: a new paper via EFMA, titled "Governance and Government Debt" by João Imaginário and Maria João Gue...
Monday, September 23, 2019

23/9/19: Corporate Finance in a Chart

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The glut of debt and the unbearable lightness of corporate leverage:
Sunday, September 1, 2019

1/9/19: Priming the Bubble Pump: Extreme Credit Accommodation in the U.S.

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Using Chicago Fed National Financial Conditions Credit Subindex (weekly, not seasonally adjusted data), I have plotted credit conditions m...
Saturday, August 24, 2019

23/8/19: Counting Trillions: The Unrelenting March of Debt

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The never-ending march of leverage: Between 2001 and 2008, Big 4 Non-Financial Sector Debt rose USD 30.04 trillion or 96.5 percent fr...
Thursday, May 16, 2019

16/5/19: Identifying Debt Bubble 4.0

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Having just posted on the debt supercycle-related comments from Gundlach ( https://trueeconomics.blogspot.com/2019/05/16519-gundlach-on-us...

16/5/19: Gundlach on the U.S. Economy and Debt Super-cycle

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U.S. growth over the past five years is based “exclusively” on government, corporate and household debt, according to Jeffrey Gundlach, ch...
Saturday, November 17, 2018

17/11/18: Nine in Ten in the Red: Asset Markets YTD Returns Signal Risk Repricing

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According to a recent research note from the Deutsche Bank, 89% of global macro assets are posting losses on year-to-date basis. This is t...
Friday, November 16, 2018

16/11/18: The Horsemen of the Financial Markets Apocalypse

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My column for the Manning Financial   is now available here:  http://issuu.com/publicationire/docs/manning_financial_november_2018?e=16572...
Sunday, May 20, 2018

19/5/18: Leverage risk in investment markets is now systemic

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Net margin debt is a measure of leverage investors carry in their markets exposures, or, put differently, the level of debt accumulated on...
Sunday, November 19, 2017

19/11/17: The Next Global Financial Crisis

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My column for Cayman Financial Review on how the stage has been now set for the next Global Financial Crisis is available at  http://www.c...
Sunday, June 12, 2016

12/6/16: U.S. Student Loans: A Ticking Time Bomb

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If you like hokey stick charts, you’ll love these two covering U.S. student loans debt evolution over time: The numbers are simply ma...
Thursday, April 28, 2016

27/4/16: The Debt Crisis: It Hasn't Gone Away

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That thing we had back in 2007-2011? We used to call it a Global Financial Crisis or a Great Recession... but just as with other descripto...
Tuesday, April 19, 2016

19/4/16: Leverage and Equity Gaps: Italy v Rest of Europe

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Relating to our previous discussions in the MBAG 8679A: Risk & Resilience: Applications in Risk Management class, especially to the is...
Wednesday, December 30, 2015

30/12/15: Blink by 25bps, chew through billions: U.S. rates 'normalization'

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In a post yesterday, I mentioned USD3 trillion hole in global bonds markets looming on the horizon as the U.S. Fed embarks on its cautiou...
Wednesday, December 23, 2015

23/12/15: Corporate Leverage: "I miss you since the place got wrecked"

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Remember all the deleveraging the U.S. economy has gone through during the crisis? Why, sure, we've learned a lesson about too much de...
Friday, May 29, 2015

29/5/15: Margin Debt: Another Zombie Hits Town Hall...

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So you've seen this evidence of how global real economic debt is now greater than it was before the crisis... and you have by now lea...
Sunday, April 19, 2015

19/4/15: Higher Firm Leverage = Lower Firm Employment (and Output)

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In a recent briefing note on the Capital Markets Union (CMU) (here: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2592918) , I wrote ...
Sunday, January 4, 2015

4/1/2015: Homeownership, House Prices and Entrepreneurship

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Two papers on related topics, the link between enterprise formation and homeownership/mortgages. In the past, I wrote quite a bit about va...