Rising gold price
Gold is not an asset class because it does not generate cash flow, unlike, for instance, shares (dividends), bonds (coupons) or real estate (rental income). They are assets that produce something [...]
The next euro crisis
The euro crisis ended in July 2012 thanks to Mario Draghi’s bumblebee speech. In it, he indicated that markets would underestimate the political capital poured into the euro project. In the end, [...]
The dominance of the dollar
The US currency is the world’s de facto reserve currency. The US government seems to be doing all it can to undermine that. A budget deficit combined with a current account deficit argues for a [...]
More room for ECB rate cuts
French inflation fell faster than expected to its lowest level since July 2021, while inflation also fell short of expectations in Italy. This has made it likely that the ECB will cut interest [...]