Truss as the new Thatcher
The pound fell last week to its lowest level against the dollar since 1985 and five-year interest rates rose 50 basis points in a single day. The trigger was a £45bn package of tax cuts, the [...]
FED raises interest rates by 75 basis points.
In brief The Federal Reserve raised interest rates by 75 basis points. Fed policymakers expect interest rates to rise to 4.6% by the end of next year. Earlier, they still assumed a peak of 3.8%. [...]
Foreign Exchange Outlet
There is a growing imbalance in the world. Large trade surpluses are offset by large deficits elsewhere. In the face of monetary prudence, there is the monetary madness that seems to result from [...]
Worse than the 1970s
This bear market is similar in many ways to the bear market that followed the 1973 oil crisis. Then too, there was an oil shock. In a short space of time, the price of oil tripled, and during the [...]
From Fire to Ice
The year 2022 is not an easy one for investors. European investors have the “good fortune” of a strong dollar and, as a result, the global equity market in euros is only down 6% this [...]
