August’s subprime mortgage contagion led to a widespread liquidation of

August 31st, 2007|by Michael Ashley Schulman, Perspectives, The Big Picture, Writers|

August’s subprime mortgage contagion led to a widespread liquidation of equities, commodities and low-grade credits. The sell off was exacerbated by the largest jump in overnight loan rates in six years. Correspondingly, inflation in China accelerated to the highest level in a decade, volatility soared, and U.S. consumer confidence reached a two year low. The […]