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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…
Commentary

Canso November 2009 Market Observer

The recovery in the financial markets from the depths of the credit crisis is impressive. What is truly impressive is the recovery in investor risk appetite. This is amazing, given the terrorized and catatonic state…
Commentary

Canso June 2009 Corporate Bond Newsletter

Our newsletter production dropped significantly in the last year. To our surprise and dismay, we now realize our last Canso Corporate Bond Newsletter was published in May 2008. We apologize to our loyal readers who…
Commentary

Canso September 2008 Market Observer

Professor Bernanke and his colleagues at the Federal Reserve have a big problem of their own making: their urgent rescue of investment dealer Bear Stearns worked! The world financial system avoided a derivative meltdown but…
Commentary

Canso May 2008 Market Observer

It’s been a financial thriller so far in 2008. When most of the world’s largest and most sophisticated financial institutions came to the terrifying realization that their innovative ways had loaded their balance sheets with…
Commentary

Canso May 2008 Corporate Bond Newsletter

The disastrous credit experience of financial institutions in late 2007 and early 2008 saw a black mood envelope the credit markets. The investment herd stampeded out of credit and into the safety of government bonds.
Commentary

Canso February 2008 Market Observer

What a difference a year makes! The Canso Market Observer of February 2007 was a lonely and outmoded voice of credit caution. We argued that the credit problems brought about by excessive monetary stimulation were…
Commentary

Canso October 2007 Market Observer

We called for continued economic growth in our June newsletter, albeit at a slower pace, with stubborn inflation. We also believed that the risk of a financial accident was high due to the very speculative…

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