Our Economic Times: The Importance of the Bond Market

Document Type

News Article

Publication Date

6-27-2012

Publication Title

Savannah Morning News

Abstract

This column was published in Savannah Morning News.


In a time when terms like "sovereign debt crisis," "fiscal cliff" and "insolvency," capture headlines around the world, the central role of credit markets in our global economy cannot be overstated. The U.S. financial crisis that began in 2007 and current European debt crisis share a strong link: National governments on an unsustainable debt path, forced to rescue and buoy a grossly overleveraged private sector, find themselves at the mercy of bond markets dictating the cost of such expenditures going forward...

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