Recent Posts

Donald Trump’s G-7 crackup boosts China’s sway in Asia

If US President Donald Trump wanted to discredit the West, he could hardly be doing a more thorough job of it. The hostility he directed at ostensible allies in the G-7 was bad enough, especially when contrasted with the obsequious praise he lavished on North Korea’s murderous Kim Jong Un in Singapore. Worse perhaps was the visual contrast between the ...

Read More »

Citigroup outpaces its rivals in game of risk

When it comes to risky trading, Citigroup Inc. may have a reason to protest too much. At an analysts’ conference, Citigroup CFO John Gerspach was asked about a recent proposed change to the Volcker Rule — the Dodd-Frank regulation that limits banks’ ability to make market bets with their own capital. Gerspach said the change wouldn’t matter much to Citi, ...

Read More »

Scarce liquidity will worsen the next financial crisis

No one can predict how bad the next financial crisis will be. What’s certain, though, is that a lack of liquidity will make the fallout much worse. Holders of securities, currencies and commodities need trading liquidity so they can adjust positions, raise cash to meet redemptions, reduce their risk, or limit losses. Yet they seem to anticipate more liquidity than ...

Read More »
Send this to a friend