Since 2013, the concept of "secular stagnation" has become a key focus for both markets and policy makers. For those who need a quick refresher, the proponents of this idea argue that a combination of weak investment and strong savings causes a drop in both the...
Over the last two months my market discussions with clients and colleagues have centered exclusively on the expectations for Trump economic policies – specifically fiscal policy, regulatory policy, immigration policy, trade policy, and monetary policy. And in...
As our long time readers know, I do not write on a set schedule. I have no daily, weekly or monthly research product. I write when I believe there is something important to say. And my number one rule is to never waste your time. We are all sadly short time, with no...
By now everyone knows the Fed statement was “hawkish”. First, they removed following sentence on international risks – “Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on...
I honestly do not enjoy writing commentaries which basically say "see I told you so". But after spending the last two months talking so many of our clients off the ledge, and banging the table on the overall efficacy of QE, I feel a victory lap is in order. So if you...
I honestly do not enjoy writing commentaries which basically say "see I told you so". But after spending the last two months talking so many of our clients off the ledge, and banging the table on the overall efficacy of QE, I feel a victory lap is in order. So if you will be annoyed […]
