August 2018

The emerging markets crisis is real now More and more people are talking about the spillover of Fed policy into emerging markets as the crisis there gathers pace. I know the Fed Chairman Powell has said that EM is not his concern.…

Today's daily newsletter is very late but hopefully still useful. Yesterday I said I have a few thoughts on China that I want to run by you. I didn't get them out yesterday. So I will incorporate them into today's post. Feedback appreciated…

In the daily newsletter today, I mentioned that Uber's new strategy makes it a kind of anti-Tesla in that it's all about transportation rental and usage versus ownership. And I want to expand on that a little here. Uber's big plans Since…

The continuing anti-immigrant fervour in Europe Little is known about how or why the brawl started. Police have dismissed rumours circulating online that the man was defending a woman from sexual assault. But within hours of his death in…

Ten years after the financial crisis, Trump’s rise to power is a consequence of poor governance.

The daily is a bit late today because I had some engagements this morning. Things will be back to normal tomorrow. But expect a late newsletter on Thursday as well. 1. Canada's private sector echoing 1990s America Goldman has a good note…

Yesterday, I was biking downtown in DC on the road near the Watergate that leads to the Lincoln Memorial. It was a picturesque day here with blue skies and low humidity - a perfect day for a bike ride. But as I passed these two landmarks, I…

A lot of people are still watching the flattening yield curve and distress in EM. And while I think both of these events are important, I am looking at a lot of other market signals, particularly US domestic credit markets. Here are some…

I am back after a week away from the site. Politically, it was a pretty eventful week. On the economy and market side, it wasn't as dramatic. But I do have a few thoughts to start the week on what's relevant. 1. Sentiment shift on Mueller…

JPMorgan Chase's price target reduction for Tesla is the clearest indication yet of a shift in sentiment that investors should see as a broader risk-off marker.