Germany, the End of an Era
The manufacturing output of the largest European economy has been on a downward trend since 2017, and the decline is accelerating as competitiveness erodes.The foundations...
Category: Developped World
Resilience of the US Economy Dampens Rate Cut Expectations
US 10-year yields rose by five basis points in Asia after surging by 14 basis points on Friday following the US employment data. Federal Reserve...
Commercial Real Estate, a Significant Risk for US Regional Banks
New York Community Bancorp’s decisions to reduce dividends and build reserves sent its stocks tumbling by a record 38%, causing the KBW regional bank index...
U.S. Inflation Dampens Arguments for a Fed Rate Cut
U.S. inflation accelerated in December to 3.4%, the sharpest rise in three months. Americans paid more for housing and driving, casting doubt on investors’ bets...
A $2 Trillion Debt Case for Higher Rates for Longer
The bond market has spectacularly turned upward in the developed world, pushing yields down and perhaps too quickly forgetting about the soaring budget deficits. In...
Germany, the New Weakness in Europe
Even if Germany finally starts to grow again in 2024, it will struggle to shake off the depression lurking behind one of its weakest annual...
Is a downgrade of Italian debt possible?
This week, a possible downgrade of Italy would sound like a bad omen for the Eurozone. Moody’s believes that the country presents a “substantial credit...
High inflation for a long time
The most crucial question investors will have to consider in the coming years is undoubtedly the following: will inflation prove to be “transitory,” as the...
Where is American democracy heading?
The removal of McCarthy as Speaker of the House has plunged Congress into an internal power struggle. It faces critical deadlines to avoid a government...