There were three events last week that paved the way forward for the markets, namely: The minutes of the Federal Reserve Bank that exhibited some reservation about continuing accommodative monetary […]

In this week’s commentary we will briefly show how the buffer zones created by the world’s central banks are expected to result in above (recent) trend growth due to the […]

The markets are experiencing a temporary upswing due to the velocity of the buffer zones that central banks are creating. Those buffer zones are trying to create a unity of […]

In the summer of 2011 we published some commentaries about the development of financial black holes. The argument of this commentary goes as follows: Central banks and governments around the […]

The words quoted in the title above, were pronounced by Christine Lagarde (the head of the IMF) at the Davos annual economic conference. She was referring to the EU experience […]

In this week’s commentary we offer our assessment of a positive outlook for the real estate sector in 2013. We believe that real estate will outperform most – if not […]

I boarded the non-stop flight from Basle, Switzerland to Chicago. It was destined to be an exciting flight due to the persons sitting around me and the topics of their […]

In this commentary, we will discuss examples of how misguided policies and debates focus the public’s attention to minor issues, with the result being that the causes are not addressed, […]

The renewal of the swap lines among the major central banks was a footnote for the financial markets and for the financial publications in the last couple of days. However, […]

In the last few days, some reports have been circulated – by prominent Wall Street banks –which tell us that things will return to normal in 2013. With all due […]