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The position I have stressed is one that is counter to the bond bear market narrative. But, that is longer-term. Shorter-term dynamics are bond bearish.

Jeremy Grantham discussed his recent US market commentary with Consuelo Mack. The essence of Grantham’s comments were bearish for the US, suggesting investors could expect only a couple of percent real return over the next couple of decades…

"Basically, with the Fed and the other central banks flooding the world with money, a rising tide lifts all boats." So it's the tightening we have to fear.

Bridgewater Associates founder Ray Dalio says we are late in the economic cycle and should expect good things from asset markets. But central banks will have a tricky time dealing with the consequences.

If bitcoin and its equivalents can deliver what its champions promise, what’s not to like? Well, the rub is what Economist Abba Lerner said “The modern state can make anything it chooses generally acceptable as money".

As the Federal Reserve meets today to decide how to communicate its messaging on future rate hikes and balance sheet reduction, financial stability will play a key role. The risk of overheating was real. So let’s put some framing around…

Why would I be writing about ‘danger’ when we are experiencing the first synchronized global economic upturn in over 8 years? It’s the business cycle.

This is a thought piece. And so it’s going to be relatively) brief since I haven’t fleshed out all of my ideas here. But I want to run something by you based on a piece Matt Klein wrote over at FT Alphaville on macro policy. Let me point to…

Since Donald Trump became president, his core economic agenda has been sidetracked repeatedly by so-called cultural issues. However, now the administration is stepping up its tax reform effort. Even so, other issues threaten to derail this…

We are only seven months into Donald Trump’s presidency. And I think we can call it a failure. I’ll have a lot more to say on that momentarily. But I want to flag this as not being a dealbreaker for the US or global economy because people…