Bond Outlook April 11th

This Weekly happens to be written in the USA, where on the television, economists can be seen gravely explaining how mortgage holders, especially those who took out sub-prime mortgages with low starter rates, cannot pay the higher rate of interest and reimbursement now switching in, and cannot raise additional loans because their houses are not going up in value. The economists are followed by lawmakers from Washington determined to prevent frivolous lending, which they call the “provision of liquidity without responsibility”.