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Inflazione
"The greatest trick the devil ever pulled, was convincing the world he didn't exist" (Verbal Kint, "The Usual Suspects"). A same line of reasoning applies to the current inflation/deflation debate, the official approach by policy makers and what we are supposed to believe.When it comes to inflation and remarks on the subject, some ...
Please send more money !!
About a year ago, the following joke circulated in financial markets worldwide when the sovereign debt crisis broke out : Rather than work hard, live within his means and save for the future, a dissolute student decided to invent a system for beating the bank at roulette. After months of experimentation with betting ...
Caligula
The following story is not new and only a few blogs considered it to be important enough to focus on. It nevertheless merits attention because it blows your mind in various ways. And I needed some time to digest the story before commenting it, simply because it is so unreal.Last Thursday, Bloomberg reported on the special open ...
Moody's : Come out, come out, wherever you are
This week, we saw some strong intervention from rating agency Moody's on 2 fronts : Australia and Denmark. In both cases, it concerned the state of the financial sector and in both cases, the motivation of the move should be scrutinized.In the case of Australia, the country's four largest banks were cut by one notch from Aa1 to ...
Google strikes bonanza
Following the successful launch of Microsoft bonds late last year, Google has ensured itself a long term funding at benign market conditions. Too good to be true or are there other market forces at work ?Let's first recapitulate the operations Microsoft (AAA) executed in autumn 2010. In September, it issued corporate bonds for a ...
Ro-Ro, Algo, Butterfly, all at once…
Last Thursday we witnessed some fireworks on financial markets : Volatility once again going global. And this time, no major economic forecast triggered the mass selling mode. Starting point of this little story goes back to the “famous inaugural” press conference from the FED last week. To briefly summarize ...
Draghi zoals Riccardo Ricco
Uit Knack:U twitterde: ‘Beseffen ze bij de ECB dat het een fout signaal is om Mario Draghi te benoemen tot directeur?’ Waarom? Noels: "Mario Draghi is zo kort na de financiële crisis niet de figuur die breekt met het verleden. Hij had een vooraanstaande functie bij investeringsbank Goldman Sachs in de periode toen de crisis ...
3 vragen over Griekenland
1. Is een Griekse schuldherschikking onvermijdelijk ? 'Een of andere aanpassing van de terugbetalingsmodaliteiten van de Griekse schuld is niet te vermijden. Voorbeelden daarvan zijn een verlenging van de looptijd, het overslaan of kapitaliseren van een rentebetaling, het nemen van een 'haircut' (bijvoorbeeld aanvaarden ...















