Rising Eurozone recession risk
The April ECB bank lending survey signals an “endogenous” tightening of monetary conditions. Continue reading
Semis and the stockbuilding cycle
A surge in prices of electronic components is another indication of a cycle peak. Continue reading
A “monetarist” perspective on current equity markets
Global monetary trends were supportive pre-shock but an inflation squeeze on real growth is now likely, reinforcing a cautionary message from cycle analysis. Continue reading