Between Fear and Hope: Let’s Choose Hope
We are at an economic, financial, and political crossroad. That crossroad extends from the East and reaches out to the West. From fear of an economic slowdown in China and its effects on the economies and the markets around the globe, to the fear of Brexit and its...
Weekly Market Update
Market Action Global equities rose significantly this week amid optimism over the potential for a US-China trade deal. The yield on the US 10-year Treasury note rose seven basis points from a week ago and now trades at 2.78%, while the price of a barrel of WTI crude...
Domestic & International Developments: Market Reaction and Assessment
About 45 years ago, a famous song appeared. As the years passed, the song’s popularity grew dramatically. The name of the song was “Brain Damage” and it started like this: The lunatic is on the grass The lunatic is on the grass Remembering games and daisy chains and...
Weekly Market Update
Market Action Global equities moved higher on the week, likely boosted by progress in US-China trade talks and signs that the US Federal Reserve will take a go-slow approach on additional rate hikes. The yield on the US 10-year Treasury note firmed four basis points...
The Euro at 20: Cheating Death but Still Dysfunctional
On January 1st, the euro closed a circle of 20 years. The reality is that it remains a significant threat to European integration. The eurozone muddles along from crisis to crisis and the euro is one of the most important causes for that. By pushing countries into a...
Weekly Market Update
Market Action Global equities mostly rose on a volatile week, shaking off recent declines to open 2019. The yield on the US 10-year Treasury note stands at 2.66%, down about 10 basis points from pre-holiday levels. A barrel of WTI crude oil closed at $48 while...
New Year: Factors Shaping Up Markets
During 2018, almost all major asset classes experienced declines. As previously commented, many sectors have dropped more than 20% since last September and while safe havens have made some gains during the last quarter, they still have not experienced yet the gains...
Crossroads: At the Intersection of Geopolitics and Geoeconomics
Here are some critical issues to watch around the globe over the coming month: North America The Fed took its benchmark rate from 2.25% to 2.5%. On top of this hike, Fed officials announced they were reducing the projected number of hikes from three down to two...
Weekly Market Update
Market Action Last week stocks experienced one of their most tumultuous periods of the past decade highlighted by extreme moves in both directions. This included the worst-ever Christmas Eve performance of the Dow Jones Industrial Average, followed by a dramatic...
Ideas and Ideology and the Disruption of the Disruptors: A Conversation Among Walter Bagehot, Abd al-Jabbar ibn Ahmad, Arthur Schlesinger, Hannah Arendt, Alexander Solzhenitsyn, and Friedrich Hegel
I boarded my usual end-of-year flight yesterday at Boston’s Logan airport. The ticket by itself was unconventional. It simply stated: “Destination at the pilot’s discretion.” That by itself was intriguing. The pilot was determined to disrupt the normalcy of flying....
