PRUDENT BEAR Bond Risk Surges by Record on U.K. Recession, Auto Sales Slump Denmark Raises Main Rate Half a Point to 5.5% to Boost Krone U.K. GDP Shrinks, First Recession Since 1991 Looms Recession fears deepen global rout U.S. Stocks Drop on Concern Over Fallout From Credit Crisis Yen Rises to 13-Year High as Investors Exit High-Yield Assets Oil Falls on Concern OPEC Cut Won't Halt Slide as Demand Drops Libor for Overnight Dollars Rises as Recession Concern Mounts "Boom-bust processes usually revolve around credit and always involve a bias or misconception. This is usually a failure to recognise a reflexive, circular connection between the willingness to lend and the value of the collateral. Ease of credit generates demand that pushes up the value of property, which in turn increases the amount of credit available." George Soros, Financial Times, January 23, 2008 by Doug Noland | Oct 17 With the bust in Wall Street finance, the dynamics for pricing household, corporate and municipal borrowings have been altered. by Martin Hutchinson | Oct 20 Canada could teach us a thing or two. by Rob Peebles | Oct 3 If Jimmy Buffett were to comment on the crisis, it might go something like this... by Satyajit Das | Oct 20 De-leveraging – Fairy Tale Endings De-leveraging will win the day. by Bob Hoye | Oct 23Market Movers
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Friday, 24 October 2008
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