REFLECTIONS & PREDICTIONS
This year won’t be last year, that much we know. Nor indeed will it be the inverse, which is inconvenient. So, starting this year as last year, but simply turned face down on the desk, is a trap. The place […]
inflation
Tripod
We take a look at three things that move markets: macro, politics, and mood. We have an inexplicable market rally to explain. On bonds we remain wary and we also take a look at the Keynesian attitude to inflation. The […]
PICTURES OF MATCHSTICK MEN
I noted at the end of our last bulletin, that markets are feeling strangely bullish, for a few reasons, which I share. Although only in some places. I still find little attractive in most debt markets. They are cheap, but […]
Lend me your fears
I come not to praise Kwasi, but to bury him. This is an explainable, predictable but probably futile coup in the UK Tory Party, along with more King Canute from Bailey of the Bank. But in markets there is abundant […]
Into Broad, Sunlit Uplands?
This week has included a major but baffling fixed interest event in London. And we include some thoughts on the novelty of a conservative prime minister for the Conservative party – but first, the shape of the coming recession. Who […]