Is Saizen’s CMBS default a microcosm of the Japanese condition? From BT this morning “Update: Saizen Reit defaults on CMBS loan”Singapore-listed property trust Saizen Reit said on Tuesday it had defaulted on 7.253 billion yen (US$80.25 million) commercial mortgage-backed securities loan.The company said in a statement the ‘maturity default’ was …

Now, this may be standard sabre rattling by the Iranian leaders, but when the Ayatollah starts making smug remarks about delivering a “punch that will stun world powers on 22nd of Bahman (Feb 11 to you mere mortals)”, you wonder if there’s some yellow cake somewhere (and not the kind that you celebrate birthdays with) ...

Here’s the returning shot fired across the bows: “U.S. steel pipe probes may increase U.S.-China trade tensions”:The U.S. Department of Commerce on Wednesday launched investigations into China-made seamless steel pipes that could lead to new tariffs and thus escalate the trade disputes between the two countries.The department said it had initiated …

From today’s BT: an interview with MIT professor Huang Yasheng, professor of political economy and international management, specialising in Chinese Economy and Business at Sloan. An interesting read. Q. How has China been affected by the global economic crisis? A. China has been very seriously affected. One estimate is that about 20 million rural migrant ...

“Captain’ ;s log, supplemental, Stardate 2010.02.05.Our encounter with the alien life form known as the PIIGS has taken nearly seven months off our painful progress upwards. Our mission to Dow 36,000 and STI 3,600 is now at serious risk of failure. Engineering is attempting to fix the hull breach from the photon torpedos that have hit ...

With regards to the Batam riots, here’s an excerpt from the PT Drydocks World website on “Our People”“We recognise that Drydocks World’s position as a world-leading …

A worthwhile read from Balestra Capital’s Nov 2009 investment bulletin, not least because it summarizes what’s been happening in the market in a very readable fashion, and lays out the odds for the ultimate victor in the war between central bankers and the real economy. I will highlight some key excerpts here, but interested readers ...

Maybe it’s the CNY, but I feel compelled to put up some funnies today instead of the depressing drivel that this online rag is more famous for. While this news article (a must-read, btw) is taken from the Onion, I must point out that these were the same guys who were remarkably prescient about how ...

It’s official: Stuyvesant Town is in default. (or according to the press agent for Tishman Speyer, “…not in default”, which makes you wonder what it takes for a default to be called a default nowadays). Well, you be the judge: according to the S&P financial dictionary, a special servicer is ‘responsible for managing all delinquent ...

You can always see what you want to see, as demonstrated by the headlines in BT, which chose to take the decline in Singapore Sept PMI figures in the most positive light possible - “PMI slips, but many see recovery staying on track”:The September purchasing managers’ index (PMI), released a week ahead of Singapore’s preliminary ...