Peter Tchir

Select articles by Peter Tchir of TF Market Advisors. Tchir ranks as one of the most respected financial analysts in the United States. His long experience in the in the corporate bond and structured products and credit derivative markets provide unique insight in developing trading strategies. Tchir frequently appears on Bloomberg TV and his articles are published in the Wall Street Journal, Seeking Alpha and Zero Hedge among others. Truman Factor features Tchir’s articles in English and in Spanish.

Everything You Wanted to Know About Credit Trading, But Were Afraid to Ask

Everything You Wanted to Know About Credit Trading, But Were Afraid to Ask

With so many people looking to moves in credit markets and trying to determine how successful an auction has been, I thought it would make sense to go through some examples of how credit trades.…

The Greek PSI is once again (still) hitting the headlines

The Greek PSI is once again (still) hitting the headlines

If they cannot bribe and blackmail and threaten their way into something they call PSI, then we will see Greece stop making payments, and then the markets will get very ugly in a hurry.…

Would a Ponzi by any other name smell as bad?

Would a Ponzi by any other name smell as bad?

Asides from giving Ponzi a bad name (at least until the ECB just admits that they are printing faster than even Big Ben) this is tying the banks and the countries ever closer.…

WTF is up with LTRO?

WTF is up with LTRO?

In the end, this won’t do much for the sovereign debt market, but will shine a spotlight on which banks should be shorted and will possibly expedite their default.…

Print, Rally, Then What?

Print, Rally, Then What?

As the ECB prints and the Euro declines and inflation rises, then what?…

You Can’t Spell Tooth Faeries Without EFSF

You Can’t Spell Tooth Faeries Without EFSF

The EFSF reminds me of the tooth fairy – there are those who believe because they are told it will work, and those who try to figure out how it will work, and come out on the non-believer side.…

Well played Mr. Papandreou

Well played Mr. Papandreou

I would be very careful buying Italian CDS as they could redenominate their bonds in LIRE and it wouldn't be a Credit Event.…

European Union Document on EFSF Status (with comments)

European Union Document on EFSF Status (with comments)

Here is the text of the Draft Terms and Conditions prepared by European Union officials on the current status of the euro region’s bailout fund according to a Bloomberg article. After an initial read we have included our thoughts in bold into the document.…

Greek Write-downs – Let’s Do ONE Thing Correctly

Greek Write-downs – Let’s Do ONE Thing Correctly

A real default is the only good and fair way to ensure the write-downs occur and the system can move beyond Greece.…

Prudence versus Reckless Abandon

Prudence versus Reckless Abandon

The battle is forming up along the lines of those who are trying to show some restraint and prudence and are willing to deal with the consequences of that decision against those who want to do everything possible, giving the highest chance of “success” with absolutely no downside protection.…

Any Greek Restructuring Should Be Designed To Trigger A Credit Event

Any Greek Restructuring Should Be Designed To Trigger A Credit Event

As talk about an actual restructuring of Greek debt increases, the EU continues to think that avoiding a CDS Credit Event is a good thing.…

Hi, its Tim, I’m stuck in Paris, and need you to send $500

Hi, its Tim, I’m stuck in Paris, and need you to send $500

The IMF, EFSF, EU, G-20 are all busy figuring out how to take more taxpayer money to "solve" the problem.…

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