While Australians march down the path of a national house price obsession/mania, the world’s bond traders are firing warning shots. Bloomberg reports that, “Credit default swap (CDS) protection buying against sovereign debt default has spiked to five times the level of similar protection bought for corporate bonds, as the potential for a wave of sovereign debt defaults intensifies.”
January 28th, 2010 | Dan Denning | 6 comments | ContinuedAll Posts Tagged With: "U.S. Commerce Department"
We Don’t Expect to See Australian Banks Suddenly Keen to Expand their Loan Books
Maybe this will sound like a bunch of whining by the end of the week. After all, three of the big four Aussie banks will report results this week. There will be billion dollar cash profit figures tossed around. But as we said last week, the earnings performance of financial firms in the last six months is a sham.
September 28th, 2009 | Dan Denning | 5 comments | Continued
