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...Which is what happened in 1997 and 2007 — and what I saw unfold in the sushi restaurant last month....
...The five-year Sonia swap rate, used by UK lenders to price loans, has risen fourfold in the past 12 months to 3.9 per cent....
...After all, they noted, that was how America exited its own 1980s Savings and Loans crisis: it auctioned bad loans via a Resolution and Trust Corporation, in a way that pulled opportunistic investors back...
...Credit is trust given financial form. Economic life depends on creditors believing that borrowers will pay interest on loans and return principal when it is due....
...James Henderson is co-manager of the Henderson Opportunities Trust; Law Debenture; and Lowland Investment Company...
...That complexity is evident in his work from Liberia, where Tim spent most of his time between 2003 and 2007....
...The order book topped $36bn, or 10 times the ultimate issue size, as investors queued up for the 9.25 per cent coupon....
...But the 2007-08 financial crisis brought the boom to an abrupt end and left many institutions nursing big losses....
...It has become increasingly difficult to tell intimately reported stories from China, particularly ones that require deep trust between writer and interviewee....
...11 attacks, the collapse of Lehman Brothers”....
...Then came the great financial crisis of 2007-09....
...With a market cap of over £250mn, it is one of the few investment trusts on the London market that trades at a premium — 4.7 per cent — and has a fund yield of 9.3 per cent....
...That was less than the 1.9 per cent registered during the same period in 2022 and represented a decline in real terms, due to higher inflation....
...Last year London’s O2 Arena sold 2.5mn tickets, the most annually since opening in 2007....
...“This is something that shouldn’t damage the state of the real economy,” he predicted in the summer of 2007....
...The fund also has real estate debt of $9.9bn that can be liquidated. Through September, operating cash flows were $2.2bn....
...Relative to Israel’s size, the scale of the killing was 10 times greater than the US endured on 9/11....
...But price growth still stands at 6.5 per cent in the US, and 9.2 per cent in the eurozone....
...In Germany, the bloc’s biggest economy, inflation actually increased from 9.2 per cent to 9.3 per cent, with similar rises in France and Spain....
...Banks should cautiously repair their capital buffers now, before a possible recession undermines the public’s trust in them....
...By 2007, the Fed had increased rates to 5 per cent and the mispriced subprime market was in meltdown. Lehman Brothers’ balance sheet, at the time of its collapse, was full of mispriced debt....
...One big difference: we’ve learned from multiple news outlets that this is not just the new Lehman Brothers, with Alameda acting as the SIV to FTX’s bank....
...In the philanthropic space, there are foundations like the Wellcome Trust or Cancer Research and individual donors riding their personal hobby-horses....
...In 2007, Kelleher was appointed CFO of Morgan Stanley....
...a peak above 9 per cent earlier in the year....
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