The BoJ has re-asserted its credibility: last month’s offer of unlimited bond purchases helped push 10-year JGB yields lower. It went one step further on February 28th, publishing a detailed…
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The reaction to Mr Trump’s speech last Wednesday shows that the equity market rally of recent months has not been driven exclusively by the promise of huge infrastructure spending and…
The unravelling of the Chinese financial system has been predicted on numerous occasions since 2011. The latest social financing numbers from China will do nothing to ease these fears. Shadow…
All eyes will be on Mr Trump’s speech to Congress tomorrow. Commodity prices have dropped following suggestions that the President’s infrastructure spending pledge will be delayed. The reflation trade has…
Amazon’s pledge to create 5,000 new jobs in the UK this year alone is a clear vote of confidence in British tech and follows similar announcements by Google, Facebook and…
The high S&P PE ratio points to an overvalued US equity market. However, the reverse earnings gap remains below historical standards. This is not just due to low interest rates:…
The prospect of a Le Pen victory in May remains negligible. However, the political events of 2016 have instilled a note of caution in markets. Rising French government bond yields…
