Bond Outlook [by bridport & cie, February 20th 2008]
In normal times, news like the breach of Liechtenstein ’s banking secrecy to expose tax fraud at high level in Germany , and the nationalisation of a major bank in the UK would receive more attention in our Weekly. However, the ever widening wave of damage to financial markets from the US sub-prime market is really where we think it best to focus our readers’ attention. Two really big issues stand out this week: geographic widening of the crisis and monoline insurers. |
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