Sovereign Debt

"Go Out & Vote!" - Catalan Separatists Defy Spain, Distribute 1 Million Ballots Ahead Of Referendum

Following the confiscation of millions of ballots in recent days, and the Spanish governments' pressure on local mayors to deter the October 1st independence referendum, AP reports that the grassroots groups driving Catalonia’s separatist movement defied Spanish authorities on Sunday by distributing one million ballots for the vote that  Madrid has called illegal and vowed to halt.

Why The German Elections Matter, And Not Just For Germany

Germany's Sept. 24 election will likely result in one of the most fragmented parliaments the country has seen in decades. The country's two largest parties will try to avoid renewing their current coalition partnership, meaning smaller parties will play a big role in the formation of the next government.

S&P Downgrades China To A+ From AA- Due To Soaring Debt Growth

"The downgrade reflects our assessment that a prolonged period of strong credit growth has increased China's economic and financial risks. Since 2009, claims by depository institutions on the resident nongovernment sector have increased rapidly. The increases have often been above the rate of income growth."

Bill Blain: "One Fund I Met Is Convinced Bond Markets Are On The Edge Of A Precipice"

"The fly in the ointment is the bond market. One fund I met is convinced Global bond markets and credit are on the edge of precipice and about to take that terminal step forward. Others fear the unintended consequences of taper and the “End of QE” triggering a reset across global financial asset values – especially across the bond markets." - Bill Blain

Jim Rickards' "Golden Solution" To America's Debt Crisis

"The bottom line is that not even money printing has worked to get inflation moving... Is there anything left in the bag of tricks? There is actually. The Fed could actually cause inflation in about 15 minutes if it used it."

Oh Canada - Reflections On An Economic Experiment

"...the real problem is with the Fed’s unwillingness to surprise markets. They are convinced that moves should be telegraphed well in advance.. the Fed is a slave to market expectations...Well, Bank of Canada Governor Poloz is willing to take the other side of this view. Arguing that in normal times, there is no need for such guidance..."

Frontrunning: September 12

  • Trump Plans Aggressive Road Show to Sell Tax Overhaul (BBG)
  • Trump to weigh more aggressive U.S. strategy on Iran (Reuters)
  • Florida Turns to Recovery as Irma Moves North (WSJ)
  • What to Expect at Apple’s Biggest Event in Years (BBG)
  • A $150 Billion Misfire: How Forecasters Got Irma Damage So Wrong (BBG)