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TMT
’Euro *non*-redenomination risk
Amazing what you find in analyst reports on German telecom credit these days (via Societe Generale’s Juliano H Torii):
…we think investors might be waking up to the possibility of the mirror image of redenomination risk – what we will call “no-redenomination” risk (NORED) – a risk that may be severely underestimated for the German companies in our space.
Why the Baltic Dry Index matters
For those who believe in a long, golden era of booming commodities and happy theories about emerging markets “decoupling” from the US and its problems, we say: it’s time to look again at that fascinating gauge,