"We interrupt regular programming to announce that the United States of America has defaulted …" Part 2
24.07.2008
By: Satyajit Das
This is the second and final part of the series.
"We interrupt regular programming to announce that the United States of America has defaulted …" Part 1
23.07.2008
By: Satyajit Das
This is the first of a two part series, looking at the solvency of the United States.
Fannie and Freddie on the rope
17.07.2008
By: Wolfgang Münchau
When house price are expected to decline by 30%, some strange things are happening
Tales of Leverage
09.07.2008
By: Satyajit Das
There are many ways to increase leverage in a financial transaction that is not properly understood, and not recorded in official statistics. This article gives some examples of the use of total return swaps, digital options, and credit leverage in CDOs.
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17.06.2008 Bank Earnings – The "V", "U" or "L" Recovery
09.06.2008 Voodoo Banking
26.05.2008 What is to be done
12.05.2008 Nuclear De-Leveraging
01.05.2008 Equity Analyst Siren Songs
29.04.2008 Global adjustment will be long and painful
06.04.2008 House prices have 30-40% more to fall
10.03.2008 Central bankers cannot stop this contagion
Eurointelligence Briefing Notes
Is there a house price bubble in the Euro Area?
Some of the big questions facing the US at the moment is the extent of the housing recession, and the implication for the wider economy. Another issue is whether the US housing recession will spill over into the euro area. In the past, housing shocks were transmitted across the Atlantic. Will it happen again?The first thing to note is that there is a high correlation between house prices in the US and in Europe, and especially with France and Spain. In a recent analysis, Deutsche Bank producing a scoring model to identify the sensitivity of European house prices to change in US house prices, and concluded that Ireland and Spain are most vulnerable to a slowdown in US housing. They conclude that any bad news from the world economy will not be compensated by housing, as happened in 2001,...