This white paper deals with the implications of the case of NML Capital Ltd v Argentina. Although the decision applies specifically to sovereign debt contracts governed by New York law, it could have an impact on bondholders whose debt is not governed by…
Debt mutualisation lessons from the US
The IMF is looking to work with Asian countries to lessen the impact of the global crisis on the region, says David Lipton, IMF first deputy managing director
New report calls for debt offices to weigh the pros and cons of two-way collateral and clearing
Time for a European Monetary Fund
Key question is to what extent fragmentation could affect liquidity of new instrument, says chief executive of the UK’s Debt Management Office
Debt ceiling deal will not restore investor confidence immediately; China still looking to diversify reserves away from dollar; credit rating agencies cautiously affirm top ratings
Pension funds and investment firms highlight inflation, interest rate and currency risks of US default in open letters to President Obama
Assessing the arguments against shorting
Yield on new 2021 Senegal bond tightens over 100bp after issue; investors suggest there is room for further tightening
Panellists at the Fathom Consulting Monetary Policy Forum say Greece will likely default on its debt
Markets prepare for the worst as Athens unveils new tougher austerity measures; IMF managing director Dominique Strauss-Kahn says cuts are necessary
America’s balancing act
Europe needs to act
The EU faces a tricky 2011 as it navigates excessive debt, but needs to address solvency issues rather than liquidity, says Pimco's CEO Mohamed El-Erian.
European leaders endorse EFSF model, as facility gears up for debut issuance of up to €5 billion
European Union action on Ireland’s bank debts points to fears over contagion spreading across peripheral Europe.
EU help for Club Med nations is designed to give European banks enough time to minimise exposure to the region prior to debt restructurings, said analysts at a Fitch Ratings conference.
European financial markets have been turned upside down by the sovereign debt crisis, with eurozone government bonds no longer regarded as completely risk-free. As a result, dealers are more wary of the correlation inherent in collateral denominated in…
The New Zealand Debt Management Office (NZDMO) has managed both assets and liabilities on behalf of the New Zealand government. Here, deputy secretary to the New Zealand Treasury and head of the NZDMO, Philip Combes, explains how a prudent approach to…
The viability of the Eurozone project continues to weigh on fixed income market, says chief investment officer of DB Advisors.