The next Prime Minister will be announced on Monday September 5th. Whoever it is will face a daunting set of economic challenges, including a public sector debt burden at 96.1%…
The Hang Seng properties index dropped 2.9% yesterday and closed down again today at its lowest in over six years. Chinese credit markets continue to reel from more warnings of…
Italian government bond yields jumped again this morning, as Prime Minister Mario Draghi resigned. Snap elections are expected to be announced shortly. Yields on Spanish, Portuguese and Greek government debt…
Markets were buoyed last week by the drop in longer-term (5-year) consumer inflation expectations in the US (Michigan). Stocks could rally because the Fed would not be so aggressive on…
At the current juncture, these are the critical points: 1) The June CPI report was a shocker. The Fed is hiking into a rapidly slowing economy because inflation was allowed to…
The dip in 10-year US Treasury yields (back below 3%) looked set to take the pressure off Governor Kuroda and the BoJ for a while. But the yen is hitting…
Markets paid a lot of attention last week to the first German trade deficit since 1991 (seasonally adjusted): the euro slumped. Higher energy import costs and a loss of competitiveness…
