A promising recovery in global money growth may be insufficient to offset lagged effects of prior tightness and the US trade policy shock. Continue reading
The Fed’s economic forecasts are inconsistent with the suggestion of a 50 bp cut in rates by year-end, according to a model of its historical behaviour. Continue reading
Recent outperformance of non-US equity markets may be a signal of the end of the bull market rather than a harbinger of broadening strength. Continue reading