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...A year ago the UK government made its first £828mn payment to the Bank of England to compensate for losses on its QE bond portfolio....
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...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
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...guarantee and indemnity agreement (the “Guarantee” . . ....
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...How much central banks might lose on their engorged bond portfolios as interest rates rise and whether these losses even matter has been a subject of interest at FTAV Towers for a while....
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...Its most powerful executive, Michael Milken, pitched “high-yield” bonds as an attractive alternative to debt issued by safer, investment-grade companies....
...the piece is reset with the Cullinan III, IV and V diamonds from Queen Elizabeth II’s jewellery collection....
...(This does not apply, incidentally, to the Bank of England, which sought and received an indemnity from the Treasury against losses in the crisis.)...
...And shares and bonds in Adani-related companies have continued to sell off aggressively, suggesting that investors are giving the allegations some credence....
...The collaboration “picks up on [our] thermal management capability”, said Robert Bond, head of future projects at Reaction Engines....
...That’s the risk that people default, that you’re holding the bond, the debt of a company or government or whatever that goes under. Government bonds are entirely safe from that type of risk....
...Next day at an auditorium on Times Square he talked about the need to take risk, much more risk ‘we need you all to take $100m of daily V@R’ just like Goldman does....
...Identittiby Mithu Sanyal, translated by Alta L Price, V&Q Books £12.99 Questions about race, culture and belonging abound in this entertaining debut by German journalist and academic Mithu Sanyal....
...The exhibition Africa Fashion at the V&A in London was a barometer of this shift....
...That means companies with worse credit ratings are seeing their debt outperform this year. You would expect those bonds to sell off if a recession is looming, right?...
...Stephen Morris Those comments really set off a firestorm of media attention, client withdrawals, share price falling, its bonds plunging to trade at distressed levels....
...It would have been “unthinkable” not to be in the first wave of this, Bond told me, and HSBC plunged into the China market....
...We do not believe that this is going to be another steep correction followed by an equally swift V-shaped recovery like we saw at the outset of the pandemic....
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