Ecuador Goes to Market

Ecuador tapped international debt markets with a $1billion bond issue. The money comes at a vital time for the earthquake-hit economy that is trapped between low oil prices and the high dollar. The 10.75% coupon…

Simplicity

Simplicity is not just a business and regulatory imperative. Investor revulsion at the global financial crisis has led to a renaissance for simplicity. Certainly the complicated mathematical models so beloved in some quarters of finance…

Argentine Agriculture Bounces Back

Imagine if a government came to power in the UK and declared war on the country’s financial sector. If it imposed huge taxes and economic restrictions to undermine Britain’s leading role in global finance. It…

The Cost of Sanity is Being a Patsy

Albert Einstein is widely credited with saying “the definition of insanity is doing the same thing over and over again, and expecting different results”. The laws of physics dictate that a particular phenomenon will always…

Global Central Banks Continue to Distort Markets

Markets really have been on a roller coaster ride since the Brexit vote. Major equity indices have enjoyed a remarkable rally the last few days predicated we believe on hopes for a further round of…