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  1. FT Alphaville

    August 8, 2014

    Piketty and the randomness of wealth

    Gary Jenkins of LNG Capital confesses in a note on Friday that reading Piketty’s Capital in the 21st century was not an easy...

  2. FT Alphaville

    June 18, 2014

    Rate expectations

    How much forecasting, we wonder, amounts to ‘the present, plus or minus a bit’. Not because it is a bad way to make...

  1. FT Alphaville

    June 11, 2014

    The (early) Lunch Wrap

    Good morning New York, FT ALPHAVILLE Well, what did you expect in a negative rate environment? Izzy explains, citing Gary...

  2. FT Alphaville

    June 11, 2014

    Well, what did you expect in a negative rate environment?

    Gary Jenkins at LNG Capital brings us news on Wednesday that… yes, peripheral eurozone bond yields are or in some cases are...

  3. FT Alphaville

    May 15, 2013

    When credit markets become boring

    Gary Jenkins from Swordfish Research is having a moment; but it’s an interesting moment. On Monday he wrote: “A while back I...

  4. FT Alphaville

    March 28, 2013

    The (early) Lunch Wrap

    Good morning New York, FT ALPHAVILLE When you can’t beat them, spend it: Gary Jenkins notes that when there’s nothing better...

  5. FT Alphaville

    March 28, 2013

    If you can't beat them, just spend

    Gary Jenkins writing in Credit Matters this week gets to the heart of the matter when it comes to what investors should do...

  6. March 7, 2013

    Eurozone remains split on Cyprus rescue

    Desperate times call for desperate measures, but some ideas for funding the bailout of troubled eurozone economies remain...

  7. February 28, 2013

    Italian poll disarms the ECB’s ‘bazooka’

    Political disarray in Italy following last weekend’s election has prompted questions about what the European Central Bank...

  8. February 26, 2013

    UK borrowing costs fall despite rating cuts

    UK long-term borrowing costs have fallen to their lowest level this year, as troubles in the eurozone offset worries over a...

  9. FT Alphaville

    November 28, 2012

    Find "projected debt-to-GDP ratio" where country = "Greece"; run eyeroll.exe

    Gary Jenkins of Swordfish Research aspired to have more thoughts on the latest Greek debt deal by Wednesday morning. Alas,...

  10. FT Alphaville

    November 7, 2012

    Oh, for a Greek version of Nate Silver

    From Gary Jenkins at Swordfish Research: Strange to think that over 100 million votes cast in the US may have less impact...

  11. FT Alphaville

    September 24, 2012

    Greek troika soap opera

    France thinks Greece should get the two extra years that it’s been seeking to achieve the cuts outlined in its 2013-14...

  12. August 3, 2012

    Madrid and Rome’s borrowing costs dive

    Yields on two-year Spanish and Italian bonds dropped sharply as investors focused on comments from Mario Draghi that the...

  13. July 23, 2012

    Spain’s bond yields jump to euro-era high

    Spain’s borrowing costs reached a new euro-era high on Monday as fears about the country’s wilting economy and government...

  14. FT Alphaville

    July 23, 2012

    Spanish yields spiralling upwards

    That’s Spanish 10-year bond yields hitting a new euro-era high of 7.434 per cent at pixel time according to Bloomberg data....

  15. FT Alphaville

    June 12, 2012

    Another (potential) irk for Spanish bondholders

    This is what prospective investors in Spanish sovereign debt have to consider, writes Gary Jenkins of Swordfish research:...

  16. FT Alphaville

    June 6, 2012

    Rejoice! Or something...

    Welcome back, UK readers! So the weekend that some folk were predicting things would have to get real for the eurozone came...

  17. May 30, 2012

    Rush for havens as euro fears rise

    US benchmark borrowing costs plunged to levels last seen in 1946 and those for Germany and the UK hit all-time lows as...

  18. May 17, 2012

    Concern at BlackRock role in Spain review

    BlackRock may be the world’s biggest fund manager, but there is disquiet among some strategists and investors that the group...

  19. FT Alphaville

    February 24, 2012

    That Greek sustainability analysis, annotated

    The full document is here, but Gary Jenkins of Swordfish has an early draft with some revealing scrawlings… “Strictly...

  20. February 21, 2012

    Greek deal leaves investors fearful of two-tier bonds

    Bond markets reacted with remarkable equanimity to Greece’s second bail-out. Both in the aftermath of the deal announced...

  21. February 21, 2012

    Eurozone government bonds rally

    Eurozone government bonds rallied on Monday as the threat of a disorderly Greek default receded after European finance...

  22. January 20, 2012

    Greek unknowns feed contagion fears

    Fractious six-month long talks to persuade banks and other holders of Greek debt to accept losses were running into the...

  23. December 6, 2011

    S&P downgrade threat stalls gains in Europe

    Utilities and retailers saw some of the biggest losses on Tuesday, as near-term sales worries gripped both sectors. The FTSE...

  24. November 29, 2011

    Euro rescue fund doubts grow

    Launched to great fanfare a year ago, the eurozone rescue fund could soon be overtaken by events. Eurozone finance ministers...

  25. FT Alphaville

    November 18, 2011

    Something for the bail-out sceptics

    We won’t know until early next year how much the ECB has spent on its efforts to defend Italy and Spain facilitate the...

  26. November 17, 2011

    ECB buying drives down Italian yields

    The European Central Bank bought government bonds aggressively for a second day in a row on Thursday in volatile markets...

  27. FT Alphaville

    November 7, 2011

    Italy- the clock is ticking

    First,  a pictorial trip down memory lane. (Click on top slide for more). That’s an Italian bond investor presentation from…...

  28. November 3, 2011

    China and the EFSF

    What would you do, if you were Mr Zhu? Chinese vice-finance minister Zhu Guangyao has told reporters in Cannes, on the eve...

  29. FT Alphaville

    November 1, 2011

    The return of AAA US political risk

    We’re a day late to warn about the slobbering resuscitation of jaded poltergeists returning to chomp chunks out of the vile...

  30. November 1, 2011

    Italian bond spreads reach euro-era high

    The premium Italy pays to borrow over Germany rose to a fresh euro-era high on Tuesday, leaping over a critical level that...

  31. October 20, 2011

    London rally stumbles as traders look to Europe

    The FTSE 100 shied away from the 5,450-point level again on Thursday, with traders unwilling to add to risk without clearer...

  32. October 18, 2011

    Paris admits growth target ‘probably too high’

    France admitted on Tuesday its growth projection for 2012 was “probably too high” but pledged to take all necessary measures...

  33. FT Alphaville

    October 14, 2011

    What's an EFSF guarantee worth?

    As momentum gathers behind the (deep breath) first loss guarantee on new issuance approach for Europe’s bailout vehicle,...

  34. October 10, 2011

    Investors worry over cheap ECB money side effects

    Jean-Claude Trichet, the European Central Bank’s departing president, last week offered a farewell gift to Europe’s troubled...

  35. FT Alphaville

    October 6, 2011

    The end of the beginning?

    Have Eurozone policy makers finally got it? The signs are certainly encouraging, says Citigroup. … in the last 2 weeks we...

  36. FT Alphaville

    September 28, 2011

    You can lever, but will you take the loss?

    OK, you can’t lever the EFSF because the German government says no. Just no, no, no, no. Although even in the rare event...

  37. September 13, 2011

    Good news from China is not all it seems for bonds

    China to the rescue, yet again. News in Tuesday’s Financial Times that Italian officials hope that China will buy government...

  38. FT Alphaville

    September 13, 2011

    Zut alors! The French bank sell off continues

    Some more ‘Hard Facts‘ from the French banking sector. Tuesday’s early price action in SocGen and BNP Paribas. A little...

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