On the same day the Obama Administration put the kibosh on the Keystone XL pipeline, two engineering contracts totaling $12.2 billion were awarded to two U.S. companies for work in the Alberta oil sands. One included a $750 million contract to a Chicago-based company for work on Exxon’s huge Kearl Oil Sands project, one of [...]
Record low interest rates and record high debt levels are a marriage that history tells us won’t last long. This is a lesson European bondholders have already learned. And it is one that will likely unfold in the U.S. Treasuries market, the supposedly safe haven from the panic gripping European bond markets these days. In [...]