NOTHING TO SEE In last week’s edition covered the current environment of abnormally low inflation relative to the breadth and strength of global growth. It was argued that this was…
read moreJUST A MINUTE Last week, minutes to the ECB and FED July meetings revealed an increasingly agitated discussion about the lack of inflation associated with the current expansion and period…
read moreBULL IN A CHINA SHOP This week, overall global growth momentum has continued to float almost all boats. Nonetheless, there is still notable political risk. For example: In Japan, the…
read moreGOLDILOCKS KEEPS THE BEARS AT BAY This week, the Czech central bank became the first to raise rates in the EU since Jean-Claude Trichet’s much lambasted hike in the midst…
read moreLEFT BEHIND OR LED ASTRAY After sweeping into power on the promise of stimulus, reform and “Making America Great Again”, during his first 190 days in office, one could well…
read moreA WORLD OF DIFFERENCE Incoming data continues to show global growth has good momentum. Indeed, a number of countries (for example US and Germany) appear to be at full capacity.…
read moreSPLITTING UP The global economy continues to enjoy a growth recovery, with recent data suggesting there has been renewed strength at the beginning of the Northern hemisphere’s summer. However, from…
read moreDAMNED IF YOU DO, DAMNED IF YOU DON’T Despite continued momentum in global growth over the past 6 months, government bonds have rallied alongside equities. Last week, hawkish soundbites from…
read moreHOPE SPRINGS ETERNAL Since the financial crisis, there has been much discussion of “secular stagnation” or a “new normal” for the global economy, with lower growth and inflation. Last year,…
read moreINTERVIEW WITH A VAMPIRE For US markets, a standout feature of the last few years has been the concentration of returns and profitability across a very small number of firms.…
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