Based on how far the US term premium has fallen, to see any further meaningful decline in bond yields we’d need another downside macro shock.
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Faltering growth and undershooting inflation expose the contradictions of the ECB’s current policy approach. Despite Draghi’s insistence, they remain well…
About this economic recovery, four things strike. First, services (“intangibles”) are ticking along nicely, but manufacturing is a disaster. Second, developed markets…
Italy’s economic track record has been pretty woeful in recent years. The economy has been dogged by high and rising…
As inflation rises global capital will be repriced. The process will start in the US, though the UK may be…
