Governments, corporates and households with excessive spending and debt are living on borrowed time.
It’s relatively easy and common for politicians to walk away from a financial mess, which makes corporate and personal debt a better investment than government debt.
Emerging markets are cheaper than developed markets for good reason, with three recent examples highlighting commonly ignored risks.
Company directors hold themselves out as experts, but are increasingly demanding protection from the consequences when they fail to act reasonably.
Argentina is a deadbeat borrower that will probably default again, but there’s a high probability lenders will be back anyway
There is no free lunch, Keynesian responses do provide short term stimulus but place an anchor on future economic growth.
Eviction moratoriums are supposed to help poorer citizens, but in the long term they result in rental accommodation being more expensive.
If you venture off the well trodden pathways, there’s always something interesting happening in debt markets.