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Credit Writedowns

Goodbye to Credit Writedowns

Risks to growth and inflation helping keep long rates down

What’s your model on how real GDP grows durably?

Very negative market signals

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More on the Collapse of the Center

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American global hegemony is breaking down — here’s what could come next

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China Cannot Weaponize Its U.S. Treasury Bonds

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The Collapse of the Center

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Automatic stabilizers and a neutral fiscal stance

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China’s ‘weaponising’ Treasuries, automatic stabilizers, and investing versus losing money at WeWork

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The hardening trade war and the pause in IPO easy money

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Risk-off selling continues as Uber slides

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Just when you thought it was risk-on

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