The huge commodity resources required for the green energy transition have come into focus this year. COP26 was a bit of a damp squib, but there has been a sea…
Read More
IT upgrades in response to Covid-19 appear to have run their course. However, Google (or Alphabet) provides a good insight into the innovation that could ignite a new wave of…
Watch wages like a hawk should be the current mantra of policymakers. The key number is not employment, but wages. The payrolls miss (up 559k) on Friday was largely inconsequential,…
The Biden administration has come under fire for distorting the labour market and pushing the natural rate of unemployment higher. Republicans have been vocal in their critique of disincentive effects…
According to President Biden, the big miss for Friday’s payrolls reinforces the need for massive fiscal stimulus. There is, of course, another interpretation: with such generous government support, Americans are…
A central tenet of the $1.8tr American Families Plan is the low labour market participation rate in the US. The Biden Administration wants to boost the female participation rate, in…
The economy is on fire, cost pressures ostensibly rising, federal government borrowing is skyrocketing, and yet Treasuries are not interested. The 10-year yield is now 16 basis points below its…
Inflation was expected to turn higher in the spring because of base effects. Big price drops in the early months of the pandemic are now dropping out of the annual…
The dollar has ‘defied expectations’ this year, but the pause in the Treasury bond market sell-off has prompted a reversal. The trade-weighted dollar has fallen 1.2% since the start of…
The number of Covid-19 infections reported in the US yesterday (April 5th) was down 5.6% from a week earlier (to 5,742). Fatalities fell 26.0%. In the UK, infections have dropped…
