Somewhere in the middle of the Pacific last weekend over dinner with Bob Zimmerman the lyrics of his song “A Series of Dreams” echoed in my ears. The attempted coup in Turkey was falling apart in the midst of geopolitical uncertainties from Asia (and the pertinent...

It seems that the bond and equities markets are telling us two different stories. The former with the declining – and in some major cases negative – yields is like foretelling a story of slow growth, rising risks, and absence of a capital spending drive. The latter...

It is the argument of this commentary that following the Brexit vote we may be entering into a period of regime uncertainty. By the latter we mean political, economic, and financial regimes.  This could turn out to be a déjà vu watershed period for the global economy...

The Brexit vote (for which we reserve some doubts that it is ever completed) generated some panic selling, sending investors to the refuge of safe havens. Hence, government bonds experienced price gains and yields turned even lower. Now we live in interesting days...

“A greater Quantity [of money] employs more People than a lesser Quantity”, said John Law in 1705 in his pamphlet titled “Money and Trade Considered, with a Proposal for Supplying the Nation with Money.” And so started the story of paper money and credit, which...

“Please don’t go” pleads the German newsweekly Der Spiegel on its cover this week, asking the British to vote against Brexit on June 23rd. Indeed, especially from the point of view of Germany, Brexit would be a disaster. We Germans would be left without a pro-market...