Following our initial assessment of next year’s prospects, we discuss below some reasons that make us believe next year may be better than 2018. It seems that until this past […]

Economic indicators such as the Purchasing Managers Index (PMI), Consumer Confidence Index, and the price of oil could be thought as signals of future economic activity. Last year the Eurozone […]

As we are approaching the start of 2019, we could identify five important tailwinds and an equal number of headwinds going into play in the new year. Overall, we believe […]

Victor Frankenstein was the creator of the monster and not the monster itself. Prometheus’ gift of fire to humans was offset by Pandora’s box. Sisyphus’ condemnation to keep rolling the […]

The international financial system is based on credit. At the heart of that system is the bond market whose global size exceeds $100 trillion. Just in the US, the bond […]

Yesterday, while I was boarding an overseas flight, the markets were experiencing significant turmoil. During the long flight, I had the opportunity to contemplate the causes of the recent turmoil. […]

Yesterday the Nasdaq index touched correction territory by dropping more than 10% since its recent highs. Should we be expecting a correction or even a bear market for the rest […]

Percy Shelley’s poem titled “Ozymandias” is a sonnet, just a fourteen-line verse form that Petrarch, Spencer, and Shakespeare used during the Renaissance. Following Petrarch’s style, Shelley introduces an octave in […]

Yesterday’s drop of more than 3% in equities generated concerns about experiencing a correction similar to the one that we saw earlier this year. The fact is that the market […]

Since December 2015 the Fed has raised short-term interest rates eight times (from 0-0.25% where it stood in December 2015) to the current level of 2-2.25%. Analysts anticipate that the […]