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Indian Gold-Loan Volume Explodes Amid Banking Sector Credit Crisis
India’s $42 billion shadow-banking system has been cracking since the country’s largest infrastructure lenders halted debt repayments in 2018. Confidence in these banks has since tumbled, with the latest fears resurfacing in June when a primary mortgage lender delayed bond interest payments, indicting credit markets are freezing across the country. <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–>… Read More
History Being Made: Negative Rates, Fake Markets, & The Imminent "Daily Liquidity" Crisis
Via Fasanara Capital, Transformational Markets: History Being Made No-Bond World And The Risk Of A Daily Liquidity Crisis Rates hit new lows this month. Symbolically, the 50-year swap rate in Europe dived into negative territory. Bonds as an asset class are in extinction, a major shift in modern finance as we know it, inadvertently turning… Read More
'You Get Nothing' – Johnson Refuses To Pay Brexit Divorce Bill If No Deal With EU
With this weekend’s G-7 Summit in Biarritz winding down UK Prime Minister Boris Johnson confirmed something that has been bandied about in the British press for weeks, if not months:He warned that, if no deal on the withdrawal agreement is struck, the UK would refuse to pay the £39 billion ($47.9 billion) divorce settlement that… Read More