Word: sovereignities
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...weakness later in 2010, will there be a premium on safety, like Treasury bonds and notes? I'd be careful about this continuing assumption that U.S. Treasuries are the place to go. There are a number of reasons to have doubts about Treasuries, not just because of America's sovereign risk but also from the standpoint of an overowned currency [the dollar]. Add on to those concerns the comments from Chinese authorities and others. They haven't said they're up to their neck in Treasuries, but you know they're getting close. (See questions and answers about retirement...
...Will Rogers quote about being more concerned about the return of your money, but you also have to be concerned about the return on your money, and there's nothing [being paid] by cash and Treasury bills. At Pimco we would probably try and substitute for our Treasuries with sovereign bonds of potentially higher quality. Germany looks interesting to us. Germany has problems, but it's in a much better budget situation than the U.S. because of a constitutional amendment three months ago that forces a balanced budget in four years. (See pictures of the stock-market crash...
...demanded explanations as to why the cases had been closed by the Swiss authorities at the request of Pakistan's attorney general at the time. Those cases have now been reopened, but leading attorney Aitzaz Ahsan - who led the lawyers' movement that had Chaudhry reinstated - insists that Zardari enjoys "sovereign immunity" and cannot be tried in Switzerland...
...stories, is about a Sundanese debt collector who moves to Jakarta after his marriage fails, his only consolation the melancholic tones of the story's namesake instrument, his future "tattered and full of holes." It's an equally apt description of Indonesia, which had recently emerged a sovereign but brittle country after centuries of Dutch rule, Japanese occupation and four years of revolution. Reflected in each of Pram's protagonists from the fringe - illiterate wash maids, scabietic houseboys, night watchmen, guttersweeps - are the growing pains of a tentative new nation...
...expected to do so once more; Abu Dhabi's ruling al-Nahyan family, as cautious as the al-Maktoums are daring, knows that it, too, will be dragged back by the demise of Dubai. A glance at the $600 billion-plus balance sheet of Abu Dhabi's sovereign wealth fund puts Dubai's debt crisis in a softer light. And, as far as Dubai's leaders are concerned, the problem is largely limited to egregious overborrowing by one company in one sector: Nakheel, the Dubai World subsidiary behind huge property projects like the Palm and the World, built on injected...