Markets

Italy's 10-year sovereign bond yield has risen from 1.78% at end of April and prior to the general election to 3.66%. That's the highest since the beginning of 2014 and the yield is still rising. Domestic banks and Italian life insurers are…

Shares are down today as the FANG stocks retreat due to investor concern about growth companies in a period of rising rates. This is only a one-day impact though. The question is whether the caution regarding riskier assets will endure. No…

I was off last week when the Fed raised rates a quarter percentage point. But I promised to comment on the Fed's action when I returned. I am doing so now.

In the past year, Italy has been a source of a lot of investor angst, with 10-year yields reaching levels not seen since 2014. Despite the simmering crisis there, I am not concerned about short- or medium-term outcomes because I believe the…

I am looking forward into 2019 at this point. And if you look at the Fed's summary of economic projections from June, you see a median projection for the fed funds rate moving from 2.4% at the end of this year to 3.1% at the end of 2019. So…

A month ago, 10-year yields were at 2.89%. And so, we were at a level that yields had been on February 20th despite two rate hikes in the intervening period. Since that time, rates have shot up 10 basis points, with the 10-year briefly…

Housing bubbles may crowd out credit from other sectors, but they may also have a crowding-in effect by providing collateral to real estate-owning firms or generating attractive assets which banks can securitise and use to increase their…

Real quick here. Here's a chart tracking EM and S&P500 gains since the beginning of 2016: Source: Jamie McGeever How EM closes the performance gap Two questions: When and why should we expect EM and US stock markets to move in…

Since everyone is talking about the anniversary of the Lehman collapse and the financial crisis, now's a good time to think about the upside after crisis. In February 2009, I wrote a post based on some advice from veteran investor Jeremy…

Yesterday, I connected the end of the carry trade and stress on Australian bank margins. The point was that the withdrawal of global liquidity wasn't just affecting emerging markets in our interconnected global financial system. Australia…