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The emerging markets crisis is real, more on rising xenophobia, the CRE bubble and California as…
The emerging markets crisis is real now
More and more people are talking about the spillover of Fed policy into emerging markets as the crisis there gathers pace. I know the Fed Chairman Powell has said that EM is not his concern.…
US claims at a record low, Argentina base rates at 60%, the failed Chinese model, and the negative…
Today's daily newsletter is very late but hopefully still useful. Yesterday I said I have a few thoughts on China that I want to run by you. I didn't get them out yesterday. So I will incorporate them into today's post. Feedback appreciated…
Uber vs Tesla as the model for the future of transport
In the daily newsletter today, I mentioned that Uber's new strategy makes it a kind of anti-Tesla in that it's all about transportation rental and usage versus ownership. And I want to expand on that a little here.
Uber's big plans
Since…
The anti-immigrant fervour in Europe and Uber vs Tesla as transport models of the future
The continuing anti-immigrant fervour in Europe
Little is known about how or why the brawl started. Police have dismissed rumours circulating online that the man was defending a woman from sexual assault.
But within hours of his death in…
How Trump can thank his presidency to the lack of prosecution of white-collar criminals after the…
Ten years after the financial crisis, Trump’s rise to power is a consequence of poor governance.
Canada’s private sector deficit, Germany’s current account surplus and Germany’s…
The daily is a bit late today because I had some engagements this morning. Things will be back to normal tomorrow. But expect a late newsletter on Thursday as well.
1. Canada's private sector echoing 1990s America
Goldman has a good note…
The field of dreams in Internet 2.0
Yesterday, I was biking downtown in DC on the road near the Watergate that leads to the Lincoln Memorial. It was a picturesque day here with blue skies and low humidity - a perfect day for a bike ride. But as I passed these two landmarks, I…
When will the Fed’s rate hikes hit US credit markets?
A lot of people are still watching the flattening yield curve and distress in EM. And while I think both of these events are important, I am looking at a lot of other market signals, particularly US domestic credit markets. Here are some…
Some thoughts on the week I just missed
I am back after a week away from the site. Politically, it was a pretty eventful week. On the economy and market side, it wasn't as dramatic. But I do have a few thoughts to start the week on what's relevant.
1. Sentiment shift on Mueller…
Sentiment shift on Tesla a warning sign for all riskier assets
JPMorgan Chase's price target reduction for Tesla is the clearest indication yet of a shift in sentiment that investors should see as a broader risk-off marker.