Debate Magazine

Nobody Move Or Your Country's Credit Rating Gets It!

Posted on the 15 May 2016 by Markwadsworth @Mark_Wadsworth

Left in the comments by PaulC156, from The Telegraph:
If the International Monetary Fund and its co-conspirators in the Treasury wish to deter undecided voters from flirting with Brexit, they have certainly failed in my case...
The Fund gives the game away in point 8 of its Article IV conclusion on the UK economy. It states that “the cost of insuring against a UK sovereign default has doubled (albeit from a low level)”. Any normal person who does not follow the derivatives markets would interpret this as a grim warning from global investors.
Yes, the price of credit default swaps on 5-year UK debt – the proxy we all use - has jumped from 17 to 37 since late last year. But the IMF neglected to mention that it has risen from 15 to 33 in Switzerland, from 26 to 43 in France, and from 45 to 65 in Korea.
The jump has almost nothing to do with Brexit, and the IMF knows this perfectly well. The French have an expression that will be familiar to the IMF’s Christine Lagarde: ils font feu de tout bois [they are firing on all cylinders].

'Nuff said.


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Black and Gold Hues Wedding Inspiration with a Modern Flair

    Black Gold Hues Wedding Inspiration with Modern Flair

    Today, we’re sharing with you a wedding inspirational shoot that took place in Santorini, an ideal summer destination. An impressive table with black and gold... Read more

    10 hours, 9 minutes ago by   Eleni Balkouli
    LIFESTYLE, TRAVEL, WEDDING
  • A Fun Class

    Class

    Last night was the tenth and last meeting of my Wordplay class -- and what fun it's been! The students have written to prompts of taste, touch, smell, sound, an... Read more

    10 hours, 13 minutes ago by   Vickilane
    CREATIVITY, PHOTOGRAPHY
  • Concert Review: The Next Giant Steps

    Concert Review: Next Giant Steps

    Lawrence Brownlee in a fierce Liederabend at Zankel Hall. by Paul J. Pelkonen Tenor Lawrence Brownlee explored 19th century and contemporary song at Zankel... Read more

    12 hours, 22 minutes ago by   Superconductor
    CULTURE, THEATRE & OPERA
  • Roly Poly Rhubarb Pudding

    Roly Poly Rhubarb Pudding

    When I was a child I could hardly wait for Rhubarb Season to roll around. My mom would make us our favourite rhubarb pies. They were so tasty, served warm with... Read more

    13 hours, 13 minutes ago by   Mariealicerayner
    FOOD & DRINK, RECIPES
  • Why Dental Care Practices Need to Manage Their Online Reputation

    Dental Care Practices Need Manage Their Online Reputation

    In times when online reviews are playing a decisive role in customers’ decision making, healthcare providers cannot just sit back with folded hands, and let... Read more

    15 hours, 12 minutes ago by   Ajay Prasad
    BUSINESS, MARKETING & ADVERTISING
  • 12-year-old Stole His Parents’ Money and Ran Away on Holiday

    12-year-old Stole Parents’ Money Away Holiday

    A 12-year-old boy from Sydney, Australia stole the parent‘s credit card, tricked his grandmother to give him the passport, and went on a holiday in Bali after... Read more

    The 24 April 2018 by   Poundtravel
    TRAVEL
  • Sedo Weekly Sales Led by SysAdmin.com

    Sedo reported their weekly sales and SysAdmin.com led the way at $55,000. A.tel sold for $5,500, I have not seen a .tel sale in awhile. 40 .com sales 24 cctld... Read more

    The 24 April 2018 by   Worldwide
    BUSINESS, TECH

Magazine