The fixed income investment community has been shaken up by growing concerns over Greece’s creditworthiness, which appear to be spreading like a bush fire across eurozone peripheral states. While concerns over significant sovereign credit risk are currently limited to the euro area and Dubai, my colleagues at BMI believe that Latin American government credit, too, [Read more...]
It’s hard to believe how conditions have changed
CEE, you’re acting a little bit deranged.
Where once there were dreams of economic convergence
We now have nightmares, of defaults and divergence.
As growth turns to slowdown, and slowdown to recession
I hesitate to look forward, for the likely depression.
Ok, enough armchair poetry. Let’s get to the serious stuff. In yet [Read more...]
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