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Canso April 2011 Market Observer

“That Old Man Market, he keeps on rolling….. he keeps on rolling…..he keeps on rolling. That Old Man Market, he keeps on rolling along……..” (With apologies to Jerome Kern and Oscar Hammerstein II.) Read the…
Commentary

Canso January 2011 Corporate Bond Newsletter

The year 2010 actually turned out to be a decent one for the bond markets. Despite investor misgivings about loose monetary policy, we believed that the economic headwinds and deleveraging of financial institutions would result…
Commentary

Canso January 2011 Market Observer

The Canso outlook for 2010 was for a recovering but slowly growing global economy with good financial markets. The Canadian and world economies indeed grew moderately without the dreaded “double dip” recession despite the Euro…
Commentary

Canso September 2010 Corporate Bond Newsletter

With “Gold Bug” interviews featured on business television and talk of “bond bubbles” rampant in the financial press, one can be excused from missing the massive bond market rally in the 3rd quarter of 2010.
Commentary

Canso September 2010 Market Observer

A strong consensus developed in the first half of 2010 that interest rates would rise. This consensus was near universal. It was shared by professional and retail investors, financial pundits, and with all important confirmation…
Commentary

Canso June 2010 Corporate Bond Newsletter

The ancient Greeks believed that tragic drama was good for the soul. The financial markets went through a Greek tragedy in the second quarter of 2010 but it was not cathartic for investors. Hidden Greek…
Commentary

Canso June 2010 Market Observer

The euphoria of the financial world faded in the second quarter of 2010. The powerful rally in the stock and corporate credit markets that followed the credit disaster of 2008 not only lost its enthusiasm…
Commentary

Canso April 2010 Corporate Bond Newsletter

When the monetary authorities are forced to raise interest rates, they will likely do so hesitatingly and apologetically. They will then be forced to play catch up to be taken seriously by the markets. Rising…
Commentary

Canso April 2010 Market Observer

It is very clear that the U.S. economy has now joined the other major economies and the global financial market in recovery. On Good Friday, bond traders manned their desks to await the release of…

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