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“No Mr Bond… I expect you to die.” As an astute investor noted today, yield curves re-steepen (un-invert) as long bonds worry about...

A couple of weeks away from the screens is often a good time for perspective and reflection. Earlier this year the prevailing bias among...

We once described Japan as the Buzz Lightyear market “to infinity and beyond”. Clearly that was an exaggeration to emphasize the impact...

As widely expected, the FOMC left the funds rate unchanged at 5.25% at the June meeting. However, consensus beliefs on the terminal rate...

The divergence in consensus beliefs between the current leaders and laggards in the stock market is extraordinarily large. As several...

"Yield curves have never been this inverted and not signalled a recession. Bank lending standards have never been this tight without...

As we noted last week (see “how much can a panda bear”), the unwind of enthusiasm for China’s re-opening has been warranted. China’s hard...

Not surprisingly, an agreement appears to have been reached to raise the debt ceiling. While negotiations were fraught, the debt ceiling...

As a behavioural investor, the current episode has been fascinating and clearly challenging at the same time. The “everything bubble” as...