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Posts Tagged ‘Bonds’

As expected, Treasury has announced that it will allow the $200 billion Supplemental Financing Program to run down to only $5 billion; that will save $195 billion of borrowing authority under the current debt ceiling: Treasury Issues Debt Management Guidance on the Supplementary Financing Program 1/27/2011 WASHINGTON – The U.S. Department of the Treasury’s Assistant [...]

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That’s the conclusion of a new report by Morgan Stanley analyst Arnaud Mares. And what, you may ask, is financial oppression? Speaking from the perspective of investors in sovereign debt, Mares defines it as “imposing on creditors real rates of return that are negative or artificially low.” Which doesn’t require outright default. Instead, it [C]an [...]

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Shawn Tully at Fortune has a fun article recounting the rapid rise of Blackrock, which will soon be the largest asset manager in the world. He contrasts the firm’s fixed-income investment strategy with other firms (e.g., Pimco) as follows: BlackRock does not invest by forecasting which way interest rates are headed. Instead BlackRock wonkishly focuses [...]

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