The buzz on Wall Street this week was about the latest earnings reports from the big banks, and a Vanity Fair report on suspicious “Trump Chaos” trades in the futures market. Meanwhile, a small nation in the Caribbean still claims bragging rights as one of the world's hottest stock markets.
Breaking it all down on the “What Goes Up'' podcast this week are Bloomberg's Felice Maranz and Chris Nagi. And the podcast welcomes a special guest, Jamaican commerce minister Audley Shaw, who explains how sky-high interest rates decades ago helped fuel growth in the nation's junior stock market.
“It came out of a period when the private sector had gotten risk adverse,” Shaw explains. “They had suffered from periods of extremely high interest rates. In fact, in the 1990s, the average commercial bank lending rate was in excess of 50% for a decade. Unbelievable. People just came out of productive endeavors and investments. The (junior) stock exchange came out of the need to say ‘hold on, forget about going to banks to borrow high interest money. Go for equity.'”
To contact the editor responsible for this story: Topher Forhecz at tforhecz@bloomberg.net, David Rovella
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