- Samsonite: inventory, excess baggage, and unresolved questions
- It might be a long wait for “the equivalent alternative to ICOs”
- Don't blame it on the sunshine
- In corporate America, brands develop you
- One in ten dollars of US housing were anonymous
- Who cares if Elon is incinerating capital?
- Let’s not try make 'crypto chicks' a thing
- Zion Oil: Living on a prayer
- Tokens all the way down
- Eight-dimensional chess with Elon Musk
- A lopsided trade is a good trade, Italian inflation edition
- How to buy Italian fire insurance
- Atlas bugged
- Inflating inflation
- Crypto's most devout believers are suffering a crisis of faith
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- Noble rot in a shrinking Harbour
- In defence of ticket touts
- Please don't tell individual investors to buy leveraged loans
- RIB Software: the unicorn rainy-day fund
“Bigger than most countries”, eh?
The Elon Musk story.
The ECB’s direct buying of corporate bonds is also a way of accelerating the development of European capital markets.
Credit investors aren’t too worried about the economic cycle or corporate fundamentals, but they are worried about a potential boom in borrowing to do “transformative” deals.
They may have been investment-grade, but Steinhoff’s bonds have been a bad deal for the ECB.