Bond Outlook April 15th

While we urge caution about recovery signaled by the stock market rally, we are quite optimistic about the operations of financial markets, especially for fixed-income instruments and credit in general.

Cash managers adapt to tougher times

In a period of financial crisis corporates are particularly concerned about avoiding risk, but are also keen to get their cash working at a time when credit is hard to raise.

Lazard sticks with its own advice

With the business models of many of the largest financial firms destroyed by rapid deleveraging, it suddenly looks smart to be a purveyor of independent advice.

Banks raise earnings expectations

Last month executives of the world’s largest banks, alarmed at collapsing share prices, told everyone what a profitable start to 2009 they had enjoyed.