Up up and away

Ok, up up, down, up, down down down, up up and away.

I’ve been away furiously recruiting staff and working on QIS2 while completing a house move, so not much blogging recently. Should pick up again shortly.

The other news is of course Spanish bond yields, which were heading for the stratosphere before the latest “solutions” were proposed. This had, for me anyway, an unexpectedly long-lived impact towards depressing Spanish bond yields.

That story is over and bond yields are back up testing the highs from a week or two.  Nothing is properly fixed, so default and exit are still too likely to encourage investors to buy bonds at below these yield levels.

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.