Posts tagged 'Marc Ostwald'

Was Verizon paying the price for Apple?

Or simply giving money away?

There was much hoopla late on Wednesday as Verizon got the world’s largest corporate bond sale away — some $49bn of paper which will help to buy the rump of Verizon Wireless back from Vodafone.

Here’s a little table from Marc Ostwald of Monument Securities that hints at the excessive premium offered by Verizon, along with the instant profits on offer to investors here: Read more

Covert transfers and the SMP

We are indebted to Marc Ostwald of Monument Securities for this:

AMSTERDAM, Dec 20 (Reuters) – The Dutch central bank cancelled its interim dividend, thereby increasing the government’s budget deficit, saying it may make a loss in 2011 due to the European Central Bank’s bond buying programme, the Dutch Finance Minister said on Tuesday. Read more

Wer soll das bezahlen?

Further reaction to the European “shock and awe” stabilisation package this time from Marc Ostwald of Monument Securities who says there are lots of unresolved issues.

Perhaps the most important, he says, is encapsulated in a 1950s German saying: “Wer soll das bezahlen?”, which in English roughly translates to “Who is going to pay for this”? Read more

GBK watch – flatlining

The lull before another storm?

 Read more

Post QE gilt (auction)

UK DEBT MANAGEMENT OFFICE SAYS GETS 2.08 COVER AT 2 BLN STG SALE OF 4.5 PCT SEPT 2034 GILT

UK DMO GETS 0.3 BASIS POINT YIELD TAIL AT SEPT 2034 GILT AUCTION Read more

Warning signals: QE rally might be over

Just as Societe Generale’s Albert Edwards considers  going uber-bullish,  Marc Ostwald at Monument Securities interprets current sharp fluctuations in the US Treasury curve as implying an imminent end to Quantitative Easing-inspired rallies.

In a note on Thursday he sets out the following warnings signals: Read more