Markets

We are in a mid-cycle slowdown not dissimilar to the ones we experienced in 1995 or 2005. I am remarkably sanguine about the ability of policy makers to induce a cyclical recovery via fiscal and monetary stimulus. And, of course things…

The BKX Bank Index has broken below support levels. Banks are dead money. What sector could take leadership in the S&P? How about tech?

Niels Jensen clears up a number of common misconceptions about the macroo environment which whave great importance for investing.

What is driving the increase in the RMB-denominated trade is probably not any preference to transact in RMB but rather speculative demand for RMB. That sounds pretty plausible.

Forget about gold for the time being. Investors need to own cash - currency, simply as a hedge against the risk of another derivatives mess down the line.

The financial repression that is being discussed is not in developing countries but in the advanced industrialized countries. The ostensible goal is to support the government bond markets. Moral suasion, the cajoling of investors are soft…

Europe’s monetary union is simply one of the most important experiments of our time. Can the countries whose wars against each other shaped to a large extent the past millennium, if not longer, form a sustainable monetary union without…

Jim Rogers is bullish on Asia. In a twenty-minute interview with the BBC, he explains why? Hat tip Paul Kedrosky. Like Paul, "I find many of his rhetorical tricks maddening" but it is an informative interview nonetheless. Videos below

The Federal Reserve will be on easy street for a long time to come. Real interest rates will remain low, meaning debtors will be favoured over savers. Investors in fixed–income will take it on the chin.

While the tightening of global financial conditions is likely in part a trigger for the recent unwind of positioning, the de-leveraging of this extended positioning in equities, commodities and currencies, therefore, is the likely the cause…