Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Davos 2013: Heard in Davos

By Bloomberg Briefs - 2013-01-25T17:28:51Z

Photograph by

Company Symbol % Change
8 of 24

Gary Cohn

On banks:

Debt markets that have seen junk-bond yields drop to record lows may face a "substantial repricing" if interest rates spike or investors begin pulling money out of fixed-income. A sudden or large increase in rates would be a shock to markets, presenting "a big risk" with "a low probability. Such a move would potentially be heightened by a liquidity shortage as large banks cut holdings to comply with new capital requirements. "I'm concerned when money starts flowing out of fixed-income funds, with firms trying to reduce their riskweighted assets and firms trying to reduce their balance sheets, who will be the ultimate buyer of those fixed-income products? Someone has to buy them, and maybe it takes a fairly substantial repricing of fixed income to??find the next round of buyers.