The options for reducing public debt-to-GDP ratios in advanced economies are becoming extremely limited. Governments “are going to have to live with high inherited debts” – this was Barry Eichengreen’s…
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CGB yields continue to slide. The PBoC cut the one-year loan prime rate by 0.10 percentage points on Monday to 3.45%, but kept the five-year (mortgage reference) rate unchanged at…
Our biggest secular concern for financial markets should now be visible even through the thick, hazy smoke of wildfires burning across Canada, Hawaii and Southern Europe. Climate change appears to…
Headline inflation slows to 6.83% on the back of a larger drop in energy prices and a moderation in food price hikes. But core inflation (ex-food, energy & alcohol &…
Thursday’s benign US inflation report came on the back of renewed concerns about the state of the Chinese economy. Chinese shares are down again this morning. Taken together, last week…
The Fitch downgrade has been treated with derision in some quarters. But in the cold light of day, it was justified. In truth, it could have come a lot sooner….
