Complacency in the Midst of Market Cycles: Liquidity Pressures and Geopolitics
Money markets experienced some kind of distortion in the last 18-24 months due to global dollar shortages as the Fed got into the swing of “normalizing” rates. Money markets several times become the arteries of the financial system. If they get clogged, shortages are...Global Market Resilience: Noise, Global Trade, and Policy Directives
In the last couple of weeks a reality seems to be settling in the minds of over-optimistic investors. That reality says that it would not be so easy to enact legislation that will turn things around overnight. Moreover, investigations and questions about...The Zadig & Micromega Perspective: Global Demand, Servicing the Debt, and Economic Developments
“Zadig” a.k.a. “Destiny: An Oriental Story” and “Micromegas” were two of Voltaire’s philosophical tales dated back in the middle of the 18th century. In the former Voltaire explores the reason’s inability to penetrate the deep mysteries of life as the enigma of the...Market Valuations and Reflationary Expectations: What Can we Learn from a London Art Exhibition?
A recent investors’ survey done by Bank of America Merrill Lynch found that more and more investors believe that stocks are overvalued. Expectations about earnings, taxes, spending, and regulatory regime, have uplifted equities worldwide, but recently a sense of...From Convergence to Divergence: Emerging Markets in Expectation of Higher Rates
Over the course of the last few months, we observe that not only developed markets have been enjoying good returns, but also emerging markets rise along with them. As the following graph shows the Global PMI Index (signifying manufacturing activity) is close to its...Sign Up for Our Publications
