The latest figures on global trade portray a picture of contraction. Have we entered into a period of deglobalization? The figures tell us a story of the longest period of […]

Looking back to 2019, we don’t think that it would be a stretch to claim that lower rates and the dovish approach by the Fed lifted up valuations and played […]

There is no doubt that the death of Qassem Soleimani may become a stepping-stone for rising violence, turmoil, volatility, risks, and even a new war in a troubled region of […]

In the boarding area I could clearly see three distinct figures: Johannes Bredenburg, Sir John Templeton, and Spinoza. I knew that I was destined for another treat in this end-of-year […]

In last week’s commentary, we outlined our overall assessment of a decent start for 2020, but expressed our skepticism for the rest of the year (see Assessing the 2020 Outlook: […]

We started assessing the outlook for 2020 a few weeks ago. The truth of the matter is that we are facing two almost equally probable scenarios: The first one (adopted […]

Yesterday, was a very sad day for the US and the world. The economic giant Paul Volcker passed away. Paul Volcker by himself saved the economic system four times (with […]

Jacques de Larosière from the Center for Financial Stability (CFS) shares his latest thinking on inflation targets and the unintended consequences from excessively accommodative monetary policy. “This challenge could be […]

We are at the hinge of a new era where we are supposed to choose between a reality of tyranny and illiberalism dominated by kleptocrats, and an age of democratic […]

Septimius Severus founded the Roman dynasty that carried his name in the year A.D. 193. That year is known as the “year of the five emperors.”  The year began after […]