Leo Haviland provides clients with original, provocative, cutting-edge fundamental supply/demand and technical research on major financial marketplaces and trends. He also offers independent consulting and risk management advice.

Haviland’s expertise is macro. He focuses on the intertwining of equity, debt, currency, and commodity arenas, including the political players, regulatory approaches, social factors, and rhetoric that affect them. In a changing and dynamic global economy, Haviland’s mission remains constant – to give timely, value-added marketplace insights and foresights.

Leo Haviland has three decades of experience in the Wall Street trading environment. He has worked for Goldman Sachs, Sempra Energy Trading, and other institutions. In his research and sales career in stock, interest rate, foreign exchange, and commodity battlefields, he has dealt with numerous and diverse financial institutions and individuals. Haviland is a graduate of the University of Chicago (Phi Beta Kappa) and the Cornell Law School.


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Recent patterns in key government interest rate marketplaces warn that the worldwide economic crisis remains far from over.

Since around mid-March 2012, compare the trend of falling rates in government notes (10 year) of “flight to quality”/”safe haven” nations such as the USA, Germany, and Japan (and even the UK) with that of rising yields in several other European nations (not just Italy and Spain).

Note this rate pattern in government debt instruments alongside the recent high in the S+P 500 at 4/2/12 at 1422 as well as related weakness in commodities “in general”. See “The Worldwide Economic Growth Story: Chinese and Indian Stocks Alongside Commodities” (4/2/12).

FOLLOW THE LINK BELOW to download this market essay as a PDF file.
Of Human Bondage- Government Note Marketplaces (4-9-12)
Government Note Marketplaces (4-9-12)