Earlier this year, Maui County residents in the island state of Hawaii were somewhat less than ecstatic to learn that their property taxes were going to increase by approximately $29.7 million for fiscal 2018. According to County Council member statements at the time, the additional funding was needed to help provide better public services for Maui residents.
By Gordon Johnson of Axiom Capital
CHINA MACRO ANALYSIS: Growth in China is Slowing... Will it Continue, and What, if Any, will be the Impact to Commodity Prices?
We recently discussed (see here) Alberto Gallo’s (portfolio manager of Algebris Macro Credit Fund) shot at the $64,000 (more like trillion) question in his report “The Central Bank Bubble: How Will It Burst?”.
As we said at the time, one of our favourite parts of the report was “The Money Tree” infographic which explains how QE has benefited a plethora of investment strategies and created the bubble to end all bubbles.
In the few short days since Saudi Arabia erupted in a 'pre-emptive coup', the nation's credit risk has spiked dramatically higher, bets on a devaluation of the Riyal have surged, oil has jumped, and the Tadawul All-Share Index is... unch.
Saudi Credit Risk has spiked...The cost of insuring exposure to the country’s debt against default has spiked the most in seven months in the two days since it arrested dozens of princes, billionaires and public officials as part of an anti corruption drive
Authored by John Mauldin via MauldinEconomics.com,
This is something I’ve been pondering for some time. I think the next crisis will reveal how little liquidity there is in the credit markets, especially in the high-yield, lower-rated space.
Dodd–Frank has greatly limited the ability of banks to provide market-making opportunities and credit markets, a function that has been in their wheelhouse for well over a century.