Rising U.S. Risk Premium?
Contrary to the expectation of many pundits, the dollar has softened considerably. We explain why this is surprising and discuss one proposed theory in an attempt to explain this, looking […]
A Trump Effect?
Apart from business sentiment and the stock market, hard data does not display a decisive acceleration in the economy. But it’s early days and the tax cuts have yet to […]
Which Is A Bigger Threat For Stocks, Bonds Or The The Dollar?
According to many experienced commentators, the decades-long bond rally is coming to an end, or has already done so. Normally, a bond selloff would be bad for stocks, but there […]
A Chinese Lost Decade?
The Chinese economy is facing three secular headwinds that conspire to slow its economic growth considerably. Demographics are turning from a tailwind to a headwind and diminishing returns of the […]
The Tide Is Turning
The world economy is experiencing a synchronized upturn, but the main areas are already tightening monetary policy, or about to do so. This will reduce world liquidity and provide a […]
The Consequences Of Permanently Low Interest Rates
It is possible that, in the absence of rising inflation, interest rates remain extremely low for much longer. This has several important consequences for asset prices and the dollar, for […]
What China Can Teach Us About Economic Growth
After the enactment of US tax cuts supposedly comes infrastructure spending. As experiences go, the latter is likely to be a bigger booster for economic growth. While the US economy […]
As Good As It Gets?
Goldman Sachs argues that the synchronized growth spurt in the world economy is unlikely to last. We can only hope it does, at least for a while as it takes […]
FANG: The Default Stocks To Buy When The Market Misbehaves?
Cramer argues that FANG stocks have become “the default stocks to buy when you get freaked out,” supposedly by market trouble. If he is right and these stocks sell off […]
Black Monday, When The Music Stopped. Can It Happen Again?
Black Monday, the day that the Dow Jones crashed 22.6% in a single day, is 30 years ago this Thursday. This commemoration will not help those investors who are already […]