GR-NEAM Reflections: 05/01/2012 - Sublime to Ridiculous

Government securities were traditionally the safest, and in certain cases beyond reproach in investment quality. The behavior of those issuers themselves, however, stands upon its head the central position of government debt in financial markets.The deterioration in the true credit quality of government obligations is one contributor to the secular increase in risk in financial markets, without commensurate compensation in return.