After 30 odd years in this business, everything becomes cyclic. I have a sense of deja vu reading the headlines this last couple of days and while everything seems similar, it’s actually quite different this time. Of course, as confidence in banks plummets along with their stock prices, we see another round of Government and central bank intervention at Credit Suisse etc. And, as one industry pundit said in an Investing.com article – “All hell’s breaking loose in oil and it has everything to do with the U.S. banking crisis that’s now going global,” said John Kilduff, partner at New York-based energy hedge fund Again Capital. “There is something after all more potent than Chinese demand for oil — liquidity.” This of course has resulted in a rush to traditional safe havens like precious metals and is impacting demand forecasts for things like Oil and so on thus impacting their prices negatively. I’m sure credit solution vendors are seeing a rush on inbound inquiries as everyone focuses in on exposure to certain counterparties and on liquidity. Like I said, it does seem a bit like here we go again… except it isn’t. This event is taking place in a very… continue reading
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