Latest news.
The return of the central bank put?
7 June 2019Stock markets had a very good week – for all the wrong reasons. Economic data reports confirmed that 2018’s US economic expansion is rapidly decelerating towards outright stagnation as companies appear to batten down the hatches...
Bond rally musings…
31 May 2019It all seemed to make a lot of sense to the media commentators this past week: government bonds rallied and equity markets fell because investors no longer expect a return of meaningful global economic growth during 2019, and...
It is getting warmer?
24 May 2019Unfortunately this headline is not intended to suggest that things are getting better, but rather that Donald Trump’s trade war is heating up. In a way I feel reminded of the Cold War between the US and the USSR in my youth,...
Market support for Trump or unwarranted equanimity?
17 May 2019A little over one week into the escalation of the US-China trade wars, stock markets have calmed and even made a partial recovery from last week’s sell-off. Globally, stock markets are now trading around 3.5% below their highs,...
Geopolitics re-enter market stage
10 May 2019Just as markets were trying to prove that they have regained some rational balance when they shrugged off central banks’ rejection of further monetary support, geopolitical tensions returned with vengeance. Perhaps it was naïve...
Central banks disappoint expectations
3 May 2019Last week we wrote that stock markets faced being challenged by the decline of a number of stimulating aspects that had been regularly named as the drivers of the 2019 recovery. The most crucial one being central banks’ assurances...