government debt

Austerity isn’t Dead, it will Come Back with a Vengeance

Jonathan Rochford
Jonathan Rochford Narrow Road Capital

There’s been a steady stream of recent articles claiming that austerity is dead. This one from James McCormack at Fitch argues that populist politicians are responsible for killing off pragmatic economic policy. Whilst I don’t deny the medium term tide is against austerity, the very high levels of sovereign debt... Show More

Taxing Observations for the Budget

Clime Asset Management
Clime Asset Management Funds Management & Stock Research

Ahead of what is likely to be a controversial budget, anticipation is further stimulated by the plethora of policy suggestions and thought bubbles that have been leaked by the Treasury Department. The task set for the Government and Treasurer encapsulates a range of serious problems far greater than simply balancing... Show More

Government debt may not be risk-free

Jonathan Rochford
Jonathan Rochford Narrow Road Capital

The safest place to be is in the short term is senior ranking debt to companies or securities backed by hard assets, non-cyclical businesses and with limited leverage. By having near-term maturities, the capital price movements (mark to market) should be minimal and liquidity will be better. Having a near-term... Show More