2024 was the first calendar year that the global average temperature reached more than 1.5°C above the pre-industrial level. Last year’s jump in atmospheric carbon dioxide is particularly alarming. The…
Friday’s strong jobs report underlined the point: there is little reason for further rate cuts in the US. Other labour market indicators are consistent with the December payrolls report. NFIB…
The Federal Reserve embarked on an easing cycle, despite unprecedented fiscal deficits, a solid labour market, and core inflation settling well above target. As a result, it made sense to…
UK long-term borrowing costs are nearing the highest levels in more than a quarter of a century, in the wake of the Autumn budget, as the bond market braces for…
The gradual tightening of the Japanese labour market remains intact: this should continue to put upward pressure on wage growth, inflation and JGB yields in 2025, as it did last…
Stocks rose alongside bond yields last year, because the Fed cut rates into a strong economy. The 10-year US Treasury yield increased 70 basis points in 2024, ending the year…
