Depending on how old you are this might be surprising to you, or not. Joanna Chung at FT.com reports that countries are quickly redeeming Brady bonds. From a peak of $165 billion outstanding emerging market governments have been able to whittle these bonds down to less than $50 billion outstanding.
We cannot decide whether this story is simply another example of the ‘savings glut‘ or an example of global capital efficiency. In either case Steve Levine and Christine Haughey in the Wall Street Journal report on the increasingly global hunt for attractive commercial real estate transactions.
Matthew Lynn at Bloomberg.com ponders the fate of the Euro and makes the case for a modified currency regime.
Emma Trincal at TheStreet.com has some insights into the world of hedge fund seeding.
One of the complaints against Larry Summers in his troubled tenure at Harvard University was his handing of the scandal surrounding the actions of some Harvard professors and Russia. David McClintick at InstitutionalInvestor.com has a lengthy piece on the case.
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