The fiscal cliff in the United States was the hot topic surrounding domestic economic policy throughout 2012, as my colleague Ian Mathieson discussed in his year in review last December. It is safe to say that the same was true for this year as well. The global markets were once again on their toes observing […]
The debt ceiling crisis has an inconspicuous victim, the U.S. bond market. The simple logic is that a U.S. Treasury default on its bonds will cause the bond investors to panic, causing both long and short term interest rates to spike. The U.S. Treasury bond holders will bear the brunt but the default would also […]