News

The title here is a bit provocative I know. But it is really something I stole from an article about Stephen Roach’s view that I will use as a jumping off point for my Friday review.

There are widespread signs of credit market froth. This is a telltale sign of top of the cycle or near top of the cycle excess. Think 2005, 2006 or 2007. The key bit here is that credit markets transmit distress in a way that equity markets…

Today, rather than write to a single theme, I am going to highlight a number of stories that I have seen over the past few days that I think are important. Spain. Bad debts in Spain are now declining ever so slightly. The latest data for…

The Chinese property bubble is bursting Chinese wage pressure is rising Chinese search for oil has increased geopolitical tensions

Expect the ECB to do something in June, but not QE Ukraine is the top geopolitical risk Rotation into defensive names in the US is worrying China is exporting deflation Easy money is causing a reaching for yield

The Canadian housing market is providing a pro-cyclical boost Russia is now in a recession Twitter’s share collapse is emblematic of broader trends Corporations pay tax for a reason

Topics for today: Tail risk from Ukraine is increasing, giving rise to investment opportunity Argentina is still a basket case US housing will not add appreciably to a US growth acceleration I think the big news in the markets is…

I have been off since Thursday due to the Easter holiday. But I want to write my traditional Friday post today with a grab bag of different issues I am seeing. I actually just want to focus on the US this time.

This week’s theme post will be exclusively about Greece because I think the Greek bond deal is emblematic of trends we see in markets and the real economy. And of course, the big news in the past few days is Greece. Its 5-year government…

The West has accepted Crimea’s annexation and will likely only increase sanctions if Russia goes further The Ukraine – IMF deal will put the Ukrainian economy through the wringer Russia’s economy is going to tank due to capital flight…