In todays note we’re going to remind you why it is that investors need to remain on guard in their hunt for yield and not disregard systemic issues. Why is it do you think investors in Nestle’s 4yr bonds are prepared to accept a negative interest rate? Why is it that  record volumes of government […]

Is this the answer to a debt problem? Take more debt and pretend the current debt doesn’t exist by extending it so far into the future it doesn’t warrant concern? On the current trajectory, in many Western economies, will you be paid by banks to take a loan and pay to have your money stored in such a secure place? Don’t […]

 “Everything is awesome” is the song you need to see the Lego movie for. If you haven’t, its worth it. The Lego Movie is one of those classic kids films with adult theme overtones that half the adult population (being kind) don’t get. Before we get onto the main topic of todays note, we present […]

Make no mistake, the RBA had three choices today, based on previous guidance. Make no change. Change the tone of commentary and make no change. Cut Rates. So, things are so bad, we’ll take option 3????? We’re still a bit flabbergasted so we’ll take some commentary from Zerohedge: Following the 15th surprise rate cut of 2015 (Singapore, […]