• Skip to main content

Narrow Road Capital

Australian Credit Management - Higher Returns · Lower Fees

  • Memos
  • Contact
  • Subscribe

Debt

Who’s to Blame for the Greensill Mess?

April 17, 2021 by Jonathan Rochford

Who's to Blame for the Greensill Mess

Lex Greensill, Softbank, credit insurers, fund managers and BaFin all played a part in billions being lost

Filed Under: Debt Tagged With: Geensil, Insolvency

In a Crisis, the Quality of Spending and Debt Matters

July 25, 2020 by Jonathan Rochford

Debt Quality Matters

There is no free lunch, Keynesian responses do provide short term stimulus but place an anchor on future economic growth.

Filed Under: Debt Tagged With: Crisis, Debt Matters, Keynesian Responses, Quality of Spending

There’s Always Something Interesting Happening in Debt Markets

July 11, 2020 by Jonathan Rochford

Interesting debt Markets

If you venture off the well trodden pathways, there’s always something interesting happening in debt markets.

Filed Under: Debt Tagged With: China, Debt Markets, Green Bonds, Greenwashing

A Chance to Reset in Debt

April 11, 2020 by Jonathan Rochford

A Chance To Reset In Debt

For those that seek out the illiquidity premium, this is a rare opportunity to increase your prospective return whilst decreasing the risk of long-term capital loss.

Filed Under: Debt Tagged With: Reset Debt

Tech Wreck 2.0 and Debt Wreck 2.0 are Coming

May 29, 2019 by Jonathan Rochford

Wrecking ball toppling profits on chart

In both equity and debt markets investors are buying securities that have identical characteristics to the disasters of the recent past.

Filed Under: Debt Tagged With: Debt Wreck, FHA Loans, IPOs, Lyft, Tech Wreck, Uber

Reflections on Ray Dalio’s Book on Big Debt Crises

February 20, 2019 by Jonathan Rochford

Ray Dalio

Ray Dalio’s seminal book should be read by all investors and policy makers. However, following its policy prescriptions helps create the next debt crisis.

Filed Under: Debt Tagged With: Big Debt Crises, Investor, Policy Makers

Emerging Markets: Nothing New Under the Sun

September 3, 2018 by Jonathan Rochford

Emerging Markets

The events overtaking Argentina and Turkey in recent months are textbook cases of an emerging market crisis. This article reviews the build-up, the break-down, the responses and who else is at risk.

Filed Under: Debt Tagged With: Emerging Markets, Foreign Currency Debt

The Dirty Dozen Sectors of Global Debt

June 28, 2018 by Jonathan Rochford

2018-06 Dirty Dozen Sectors

This article details twelve global debt sectors where there’s lax credit standards and increasing risk levels, pointing to global credit being late cycle with limited upside left beyond carry.

Filed Under: Debt Tagged With: global debt

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

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

Meredith Whitney was Right – Just way too Early

July 9, 2015 by Jonathan Rochford

American Flag

Meredith Whitney’s prediction about US state and local governments defaulting is coming true – are subprime governments the next threat?

Filed Under: Debt Tagged With: Defaulting, Meredith Whitney

  • Go to page 1
  • Go to page 2
  • Go to Next Page »
  • Privacy Statement
  • Contact Us

© 2023 Narrow Road Capital Pty Ltd. ACN 156 210 696. · Privacy Statement · Contact Us