Credit Writedowns

Markets are imploding, every organization that US President Donald Trump has led is under investigation, his poll ratings are sagging, and Trump's legislative agenda is set to go nowhere under a divided Congress. Frankly, it looks very…

Stocks sold off big again today. Slowly, we are inching ourselves toward a bear market here. And I think the mantra has to be 'Fight the Fed'. In this morning's market piece, I explained why this could be the Fed's last rate increase. And…

If you look at markets today, they are on full strike. The Fed may have reduced guidance. But that was clearly not enough to assuage market sentiment. Across a wide cross-section of markets, conditions have continued to tighten this morning…

As I wrote yesterday, the Federal Reserve raised interest rates a quarter point but changed guidance in the face of tightening financial conditions. In his press conference afterwards, the Fed Chairman - also as predicted - talked bullishly…

The daily yesterday was on the resiliency of the US economy. My overarching message was that the angst we are seeing in the market is not reflective of near-term economic strength. Instead, it's a combination of worries about a slowing…

Asset market distress is mounting My default position recently has been more about volatility than a directional call on any specific asset class. But, in a world in which asset prices have been rising, increased volatility is almost always…

The maneuvering over the UK's exit from the European Union continues unabated. The latest news inside the UK is that Labour leader Jeremy Corbyn is considering tabling a no-confidence vote against the minority government of Conservative…

There is a lot of economic and political uncertainty swirling around the global economy right now. And, judging by many of the headlines, you would think we're on the verge of recession. I don't believe that's the case. Instead, I believe…

There are a number of market, economic and political threads I want to comment on as we end the week. In terms of my mood, having digested the recent economic and political news, I am actually hopeful. I think the prospect of recession and…

Theresa May won the Conservative party confidence vote today by a tally of 200 in favor versus 117 against. While she can now continue on as Prime Minister, the fact that 117 Conservative Party MPs, more than a third of her party, voted…