Sunday, January 22, 2012
Subordination 101: A Walk Thru For Sovereign Bond Markets In A Post-Greek Default World
Yesterday, Reuters' blogger Felix Salmon in a well-written if somewhat verbose essay, makes the argument that "Greece has the upper hand" in its ongoing negotiations with the ad hoc and official group of creditors. It would be a great analysis if it wasn't for one minor detail. It is wrong. And while that in itself is hardly newsworthy, the fact that, as usual, its conclusion is built upon others' primary research and analysis, including that of the Wall Street Journal, merely reinforces
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment