The freeze-up in the auction-rate securities market in early February put some $330 billion worth of these investments at risk. They are widely used by family offices and private banks to park client cash. Is any of my liquid portfolio tied up in auction-rate securities? If so, how can I unwind that exposure? |
China is starting to lose its economic vigor. Inflation in the Asian giant is inching up, and the prices of its exports are rising. If the economy continues to overheat, the government may have to let the yuan rise faster, further undercutting the competitive edge of its export sector. What would this mean for my businesses that rely on cheap imports and my portfolio companies that import from China? |
Is Japan poised for a comeback? Its fourth-quarter GDP was double what analysts expected, and it has kept inflation at bay by refusing to cut interest rates. That combination sounds good for equity investors—despite the fact that its market is still in the dumps. Should I be looking to shift money back into the Japanese market? |
The plan by leading monoline bond insurers to split their safer munibond guarantees from their riskier structured finance portfolios could give the muni market a welcome boost. How will this affect my tax-free investments? Is it time to plow back into the municipal bond market? |
Hedge funds are revamping their notice periods for investors seeking to pull out their funds, in some cases doubling the amount of time investors must wait before seeing their money. Are any of my hedge funds doing so? Are there legitimate reasons for doing so? |
Banks are pushing investments in so-called frontier economies—the most backward of the emerging markets. These, the pitch goes, have faster growth rates and lower correlations than other markets. Does investing in Bangladesh make any sense? How hard is it to invest large sums in—and extract them from—these markets? |
Commercial property looks to be the next subprime. The CMBX, an index that tracks commercial mortgage-backed securities, is trending down fast. But that could be due to technical market factors rather than issues with the underlying mortgages. How bad will the commercial property market get? What would that mean for my investments in REITs, commercial mortgage-backed bonds and real estate in general? |
Banks are cutting back on the amount of credit they offer and are raising their lending standards sharply, according to a recent Federal Reserve survey of senior lending officers. How will this affect my business’ ability to fund itself? How can I ensure that I will have access to the credit I need? |
The Fed says it is willing to quickly reverse its rapid series of interest-rate cuts if inflation starts to gain momentum. The pace of price increases quickened in January, but the Fed seems more interested in heading off a recession. Is there any chance it will reverse course soon? If so, should I lock in my funding now? |
With Castro bowing out in February, hopes run high that Cuba will liberalize its economy and perhaps even open its doors to American entrepreneurs and investors. What sorts of exposure to the island nation make the most sense? How can I position myself and my businesses to benefit if the communist government does throw in the towel? |
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