Monthly Archives: March 2013

U.S. public sector debt deleveraging conflicts

March 30th, 2013|by Michael Ashley Schulman, Perspectives, The Big Picture|

U.S. public sector debt deleveraging conflicts with hopes of strong 2012-13 demand growth, and political leadership appears risk-averse in the run-up to next November’s elections. Meanwhile, European “leaders” continue to:

  • Try and hold together Euroland membership
  • Reject the notion that the euro is fundamentally flawed
  • Resist the intra-European subsidy implications of a European superstate
  • Deny the impossibility of adjusting […]

Either stocks are wrong in predicting or bonds are incorrect in forecasting

March 30th, 2013|by Michael Ashley Schulman, Perspectives, The Big Picture|

Either stocks are wrong in predicting a better world or bonds are incorrect in forecasting a continued soggy global economy. So which is it? With Treasury yields flirting at 1.7%, German Bund yields falling to 1.2% and Japanese government bonds yielding only 0.5%, the G7 bond market is saying that global growth will be problematic […]