THE WORLD ISN´T PREPARED FOR A WAVE OF SOVEREIGN DEBT DEFAULTS / THE FINANCIAL TIMES OP EDITORIAL

The world isn’t prepared for a wave of sovereign debt defaults Many emerging markets will need painful bond writedowns from China and privat...

SOVEREIGN CREDITORS MUST NOT REWRITE THE RULES DURING THE PANDEMIC / PROJECT SYNDICATE

S overeign Creditors Must Not Rewrite the Rules During the Pandemic If Argentina acceded to the demands of a group of hold-out creditors,...

FINGERS POINT AT HEDGE FUNDS AFTER JAPAN BOND SELL-OFF / THE FINANCIAL TIMES

Fingers point at hedge funds after Japan bond sell-off Trend-following investors switched bets after price crossed key threshold Laurenc...

HISTORY RHYMES / CREDIT BUBBLE BULLETIN

History Rhymes Doug Nolan President Trump and President Xi are meeting in Osaka as I write. We’ll know much more in the morning. Pre-m...

THE LONG AND WINDING ROAD TO A HAIRCUT / PROJECT SYNDICATE

The Long and Winding Road to a Haircut CARMEN M. REINHART CAMBRIDGE – Default is back. Sovereign finances weathered a wrenching globa...

PEAK MONETARY STIMULUS / CREDIT BUBBLE BULLETIN

Peak Monetary Stimulus Doug Nolan October 28 – Bloomberg (Eliza Ronalds-Hannon and Claire Boston): “After all central bankers hav...

A YEAR OF SOVEREIGN DEFAULTS ? / PROJECT SYNDICATE

A Year of Sovereign Defaults? Carmen Reinhart MIAMI – When it comes to sovereign debt, the term “default” is often misunderstood. It...

A STEP FORWARD FOR SOVEREIGN DEBT / PROJECT SYNDICATE

A Step Forward for Sovereign Debt Joseph E. Stiglitz, Martin Guzmán NEW YORK – Every advanced country has a bankruptcy law, but the...