Bond Outlook February 20th

Cannons to the left of us, cannons to the right. In this case sub-prime losses being revealed across Europe, not just the USA, and monolines in slow collapse.

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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