Pegasus View
January 2008
Concerns regarding the freeze-up in credit markets and its impact on the broader global economy really took hold in the fourth quarter of 2007, resulting in another period of turbulence in the markets. While concerns over US housing and sub-prime mortgages had been bubbling under the surface for some time, the general view was that it was contained and very much an American problem, although the third quarter volatility in credit and equity markets hinted at a more sinister outcome. Read More
October 2007
We are now in the forth quarter following a volatile summer in financial markets. Across the world, banks found themselves holding billions of US dollars worth of structured bond products related to borrowers with poor credit histories known as the US sub-prime market which lead to the recent “liquidity squeeze”. Read More