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Jonathan Rochford

Would You Lend to Tajikistan?

September 3, 2017 by Jonathan Rochford

Tajikistan

The issue of bonds by Tajikistan this month follows on from recent low quality bond issues from Argentina, Greece and Iraq.

Filed Under: Lending Tagged With: Lending, Tajikistan

Cryptocurrencies and Blockchain are Just Reruns of 90’s Bubbles

September 2, 2017 by Jonathan Rochford

The old saying that history doesn’t repeat but often rhymes sums up the fervour surrounding cryptocurrencies and blockchain.

Filed Under: Money Tagged With: Blockhain, Cryptocurrency

BIS Nails the State of Global Corporate Debt

September 1, 2017 by Jonathan Rochford

The Bank for International Settlements (BIS) quarterly report is always worth the read. Whilst it is academic in style and length, it consistently raises material that matters. Taken from the September report, the graphic below highlights the big issues for global corporate debt. The rest of this short article explains each component and its importance.

Filed Under: Debt Tagged With: Corporate Debt, Debt, Gobal Debt

Emerging Market Debt: Dumb, Dumber and Dumbest

August 1, 2017 by Jonathan Rochford

Debit Card

One of the classic signs that the credit cycle is nearing the end is that borrowers that shouldn’t be getting financed not only get funded, but get it at terms that seem crazy.

Filed Under: Debt Tagged With: Debt, Emerging Markets

Eight Lessons from the European Bank Failures

June 27, 2017 by Jonathan Rochford

Euro Bank Failure Lesson

June 2017 saw three notable failures of European banks under the new bank resolution regime. Investors seeking to avoid losses on future bank failures can takeaway eight key lessons from this month’s examples.

Filed Under: Europe Tagged With: Banking, Europe, Failures

Australian Regulators Share the Blame for Housing Being Unaffordable

March 17, 2017 by Jonathan Rochford

Australians have rightly applied the blowtorch to their politicians for housing being increasing unaffordable. The Federal Treasurer, Scott Morrison, has now turned the blowtorch onto financial regulators for their part in the problem. This article details what the regulators should have started doing years ago to fulfil their respective roles in creating a stable financial system.

Filed Under: Australia Tagged With: Housing, Unaffordability

Harvard Shows the Pitfalls of Internalising Funds Management

February 17, 2017 by Jonathan Rochford

Harvard university

With so many fund managers overcharging and underperforming it’s no surprise that there’s a trend towards internalising funds management. However, Harvard’s experience shows that internalising is far easier said than done.

Filed Under: Money Tagged With: funds management, Harvard, Harvard University

The Dallas Pension Fiasco Is Just the Beginning

January 17, 2017 by Jonathan Rochford

Fire Fighters and Police Car

The run of redemptions and lock-up of the Dallas Police and Fire Pension fund was entirely predictable. The same conditions exist elsewhere and point to a wave of state and local government pension and debt defaults in the coming decade.

Filed Under: America Tagged With: America, Pensions, Redemptions

Why Banks Fail: The Definitive Guide to Solvency, Liquidity and Ratios

August 16, 2016 by Jonathan Rochford

Why Banks Fail

Banks are complex, but understanding why banks fail and what can be done about it doesn’t have to be.

Filed Under: Banks Tagged With: Liquidity, Ratios, Solvency

Will China Survive the Journey to Being a Developed Market?

October 7, 2015 by Jonathan Rochford

Map of China

Many countries have crashed and burned on the journey to being a developed market – will China be another?

Filed Under: China Tagged With: China, economy collapse

Here’s What a Chinese Hard Landing Could Look Like

October 6, 2015 by Jonathan Rochford

Map of China

The following scenario shows how falls in the equity market in China could lead to a hard landing for its economy

Filed Under: China Tagged With: banking system collapse, China, hard landing

Sovereign Debt: the (Relatively) Good, the Bad and the Ugly

August 27, 2015 by Jonathan Rochford

Wallet with Euro notes coming out

Using Australia, Italy and Greece as case studies, this article looks at the frequently ignored problems building in sovereign debt.

Filed Under: Debt Tagged With: Australian Debt, Eurozone, Greek Debt, Italian Debt, Sovereign Debt

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