Trump’s US tax Christmas present

Bond Vigilantes 04/01/2018  

Glittering gifts for Investment Grade telecom companies, but only lumps of coal for High Yield. On 22nd December last year, President Trump enacted probably the most significant achievement… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US

Cross currency basis – what is it? And what are the implications?

Bond Vigilantes 29/12/2017  

Towards the end of this year, a December spike in the cross currency basis for major currencies against the dollar grabbed the market’s attention. But what is cross currency basis… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US

A pretty good indicator of USD/EUR exchange rate movements

Bond Vigilantes 06/12/2017  

After four calendar years of price appreciation, it looks like the US dollar will end 2017 deeply in negative territory. The dollar has fallen by almost 12% this year versus… Read more »

UK equities – the silver lining to the Brexit cloud

Equities Forum 24/11/2017  

After making a lot of money, people get emotional and in what I term ‘the BBQ effect’ they want to share these feelings – this causes those who have missed out to be jealous. Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US

Beware the BBQ effect!

Equities Forum 08/11/2017  

After making a lot of money, people get emotional and in what I term ‘the BBQ effect’ they want to share these feelings – this causes those who have missed out to be jealous. Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US

Trump should reappoint Yellen. Also: credit spreads are tight, Tesla, Laffer’s napkin and other stuff.

Bond Vigilantes 18/10/2017  

The Fed Chair choice should be obvious for Trump.  Yellen all the way.  I don’t understand why he would choose Taylor. President Trump is likely to announce his choice for… Read more »

Is it time for the Bank of England to target nominal GDP?

Bond Vigilantes 22/09/2017  

In December 2012, the then Governor of the Bank of Canada, Mark Carney, gave a speech entitled “Guidance” to the CFA Society of Toronto. Less than two weeks earlier, the… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US

Mexico: a primer. Elections, inflation, the Bank of Mexico, NAFTA and gasoline

Bond Vigilantes 18/09/2017  

I’m just back from a fascinating research trip to Mexico City, to meet with policymakers, bankers, politicians, analysts, pension funds and regulators. Like many emerging market economies, the Mexican economy… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US

US households: rarely had it so good?

Episode 01/09/2017  

With Korean missile launches, Trump’s tweets, Hurricane Harvey, NAFTA negotiations and Brexit battles, journalists have plenty to keep themselves busy. Of course, some of today’s headline-grabbing events might bring profound… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US

Jackson Hole-lotta nothin’

Episode 29/08/2017  

Each year at Jackson Hole policy makers and economists around the world meet to discuss the issues of the day. Attention on policy makers has intensified to extremes since the… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


FOLLOW US