19 Oct, 2016 How vulnerable are our banks to a potential oversupply of apartments? Marcel von Pfyffer joins Peter Switzer to share his views
5 Oct, 2016 What is exciting and worrying Marcel von Pfyffer of Arminius Capital about the market and economy?
3rd October 2016 Arminius monitors bond defaults on a global basis, not only because of the disruption which they cause to financial markets and the banking sector, but also because of the lasting damage which they inflict on the real economy. Chart 1 below shows how bond defaults have risen sharply in the last eighteen months. Most of the increase in defaults so far is a direct consequence of the halving of oil prices in 2014. Many US shale oil producers had funded their development expenditures by issuing junk bonds when oil was over USD$100 per barrel and with oil [...]