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Jun 29, 20222 min read
Doctor (Not So) Feel Good
An observation we made last week is that the rapid and emotional tightening in broad financial conditions has started to impact the spot pri
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Jun 28, 20222 min read
Triumph of the Shill
It is an obvious point, however, the key components of equity return are; 1) earnings per share; and 2) the valuation multiple. Of course, t
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Jun 28, 20222 min read
Bond Market Insights - Tues, 28 June 22
China Property goes for extension squared - Argentina slides towards defaults - Russia does default
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Jun 25, 20222 min read
Bond Market Insights - Week Ending June 24 2022
Times China discouraging onshore puts - Fosun bounces - Sri Lanka bondholder committee formed
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Jun 24, 20222 min read
Bond Insights - Fri, 24 June 2022
HY slides - Shimao non-payment and CDS, CB put event triggered - general flight to quality
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Jun 24, 20223 min read
Where Credit's Due; Part II
There has been a notable shift in the prevailing bias over the past week from inflation/rate risk to recession fear. While aggregate earning
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Jun 23, 20223 min read
The Panic Zone
It is clearly an understatement to say that the broad selling in equities became extreme last week. From our perch, that sets the stage for
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Jun 23, 20222 min read
Bond Market Insights - Thurs, Jun 23 2022
China Light & Power under pressure - Country Garden now a fallen angel - Fitch downgrades more B real estate cos
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Jun 22, 20222 min read
The Titanic Yen
The rally in the US dollar and depreciation of the Japanese Yen has become episodic. Clearly it has not gone unnoticed and is now the focus
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Jun 22, 20222 min read
Bond Market Insights - Wed- June 22 2022
Fosun recovers after a slump on revised tender - Vedanta slips on proposed purchase of Hindustani Zinc -Watch for large redemptions China RE
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Jun 21, 20221 min read
Bond Market Insights - Tuesday 21 Jun 2022
Fosun continues to weigh down industrials - now yields 24%. Korean issuers coming cheap - Argentina battling to keep IMF pledge
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Jun 18, 20222 min read
Bond Market Insights - Week Ending June 18th 2022
China Property remains under pressure, State owned continue to buy land, Fosun trips up after Moody's put on review for downgrade.
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