Elliott's Singer says developed countries face long-term insolvency
NEW YORK May 8 (Reuters) - Paul Singer, founder of Elliott Management, said Wednesday at the Sohn Investment Conference in New York that developed countries are facing "long-term insolvency" and that monetary stimulus is distorting the prices of long-term bonds.
Singer, whose hedge fund has $21 billion in assets under management, said the global financial system remains "opaque." He said stimulus measures like the U.S. Federal Reserve's $85 billion in monthly bond purchases, has led to "distorted" global recovery and pricing of long-term bonds
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Reporter allowed to keep sources secret in Colorado theater shooting
- Thai PM urges protesters to take part in election |
- U.S. regulators seek to curb Wall St. trades with Volcker rule