At the Crossroads called Hellespont: Recessionary Fears Meet Unapologetic Optimism
The year was 480 B.C.E. and Xerxes (Persia’s king of kings) had gathered his troops and his fleet in the place known as Abydos, a town on the Asian side of the Hellespont, where two continents (Asia and Europe) meet fours seas at a critical intersection where the...
Weekly Market Update
Market Action Global equities closed down after a volatile week as trade friction and slowing global growth sent bond yields lower. The yield on the US 10-year Treasury note declined to 1.54% from 1.70% a week ago. Oil prices were little changed, with a barrel of West...
Another Perspective on the Recent Market Turmoil: Squandering the Stewardship of the International System
T.S. Elliot pronounced that Virgil’s Aeneid was a universal classic since the poem reflects the foundation of how you create and preserve a world system. The Aeneid displays in a powerful way the role that Rome played as a steward of such an international system. One...
Weekly Market Update
Market Action By noon on Friday, global equities had recovered some of the sharp losses recorded on Monday. The yield on the 10-year US Treasury note fell to 1.70% from 1.86% last week. In Europe, bond yields fell to record lows. In the United Kingdom, yields fell to...
The Compounding of Risks: Trade Wars in the Midst of Cheapening Currencies
The risks of an economic slowdown is compounded by trade war rhetoric, a Brexit without a deal, the reduction of short-term rates (Asian central banks lowered their rates in the last couple of days) and the talk about ECB’s new round of monetary stimulus, the...
Weekly Market Update
Market Action Global equities were lower on the week in reaction to escalating US–China trade tensions. The yield on the 10-year US Treasury note tumbled 21 basis points to 1.87% while the price of a barrel of West Texas Intermediate crude oil fell 60 cents to $55.70....
Crossroads: At the Intersection of Geopolitics and Geoeconomics
Here are some critical issues to watch around the globe over the coming month: North America Trade talks between the US and China have resumed this week in Shanghai. The expectations for this round of negotiations are low as the 2020 US elections loom in the...
Center for Financial Stability Roundtable Presentation
The Center for Financial Stability (CFS) recently hosted a roundtable discussion on European Central Bank (ECB) monetary policy with Philipp Hartmann. Philipp is Deputy Director General for research at the ECB and one of the founders of its research department....
Weekly Market Update
Market Action The Nasdaq Composite and the S&P 500 closed the week at record highs as strong earnings and healthy growth in gross domestic product buoyed stocks across the board. The yield on the US 10-year Treasury note rose slightly to 2.08% from 2.06% last...
Deglobalization and Disruption Meets Deconstruction: Isaiah Berlin and the Crooked Timber of Trading
Danny Rodrick might have been right after all when he argued in his 1997 book (titled Has Globalization Gone Too Far?) that we should be careful how far we are pushing the boundaries of globalization. Globalization inevitably gave rise to some tensions and facts, such...
