Markets’ Disconnect, Political Pandering, and Business Climate: Valuations at the Dawn of Major Chinese Refinancing Needs
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...Déjà vu all over again? Slouching Towards Regime Uncertainty
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...Monthly Barometer’s Forward-Looking Monthly Review: An Interdisciplinary View of our Complex Global Economy
June 2016 Britain’s decision to exit the EU may constitute the first step on a “stairway to Hell”, throwing up a tangle of economic, financial, societal, legal, political and other issues of unfathomable complexity. The divorce will take years to play out and...Weekly Market Update
Market Action After another dismal trading session in the wake of the Brexit vote markets stormed a reversal and posted a strong gains on the week, including London’s FTSE which had its best week in years. Despite the risk-on attitude it was defensive sectors...An Illusion of Value: Zirflation and Nirflation in a Market that is Overfed but Still Malnourished
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...Sign Up for Our Publications
