Big Banks Join Greek Debt Swap
By Thursday Greece must win over the rest of the participants to exchange new bonds for old, or it will invoke collective action clauses to compel additional bondholders to participate. The target is to reduce the country’s privately held debt of 206 billion euros ($270 billion) by 53.5%.
IMF, Japan Deny Italy Talks on Aid
With yields on Italian bonds skyrocketing, a report in the Monday daily La Stampa that the International Monetary Fund would provide a loan package to Italy of up to 600 billion euros ($798 billion) at an interest rate of between 4-5% was denied by the IMF.
Can Currency Help Diversify Portfolios?
In Making Sense of the Dollar, Marc Chandler journeys afield from standard forex territory, into labor market mobility, socialism, manufacturing, technology and productivity. More specifically, the book offers some thoughts for portfolio construction.
When the equity averages began to teeter in 2000, Michael Martin turned 30 percent of his portfolios into zero coupon bonds. He hoped to obtain...