Climate
It is a privilege to be here in Tallinn to deliver this lecture in memory of Professor Ragnar Nurkse. Widely regarded as one of the intellectual fathers of the post-war Bretton Woods system, his work showed how external…
Climate
There is an FX sting in the tail as well. If Japanese investors are trimming exposure to European debt, EUR/JPY starts to matter as more than a conventional rate-spread trade. It becomes a possible capital-flow tell, wh…
Climate
Three themes have been shaping portfolios through the summer: politics; bond yields; and (inevitably) AI.
Climate
Actions by advanced economies to limit rising government bond yields are unlikely to be durable without additional policy change or a material economic slowdown—but the first is unlikely and the second is unwanted.
Climate
Precious metals investors are watching market conditions closely as gold and silver hover at pivotal price points. While both metals have already posted impressive gains, multiple converging factors suggest we may be wi…
Climate
TOKYO - Tokyo stocks fell on October 2, with the Nikkei 225 closing at 68,309, down 647 points, as investors took profits after the previous day’s sharp rally and turned cautious ahead of U.S. employment data, rising gl…
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SEOUL – A surge in long-term US Treasury yields is driving up borrowing costs in Korea, lifting government bond yields and adding pressure on companies, households and stocks.
Climate
On August 19, 2026, the U.S. Treasury announced that it would at least double the size of its liquidity-support buyback operations in the 10-to-20-year and 20-to-30-year maturity sectors.
Climate
Major bond markets are under pressure thanks to massive AI debt sales, fiscal woes, and inflation concerns.
Climate
Central banks' rate hike signals have been a focal point for global markets, with recent comments and policy stances influencing currency pairs and market sentiment. As traders navigate the complex landscape of monetary…
Climate
Prime Minister Burnham presented UK government plans that should help ease gilt investors' concerns about political risks. For now, US rates and energy costs continue in the driver's seat, offering little relief for gil…
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Nasa is releasing a steady stream of stunning pictures of the Moon and Earth taken by the astronauts on its Artemis II Moon mission.
Climate
Gold prices are facing a critical test at the start of September as a renewed global bond sell-off puts pressure on non-yielding assets.
Climate
Early trading shows the Dow down around 0.3%. The S&P 500 is nearly unchanged. The Nasdaq is inching higher. This comes after yesterday’s pullback, when both the S&P 500 and Nasdaq retreated from record highs. Rising oi…
Climate
Stocks of the largest U.S. companies plunged 10% in one week late last year and closed flat for 2015. The selloff hit investors in the high-flying market for Chinese stocks with a whopping 25% drop from the April high a…
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Russia’s full-scale invasion of Ukraine in February 2022 challenged much of the common Western understanding of Russia. How can the world better understand Russia? What are the steps forward for Western policy? The Eura…
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Kylian Mbappe’s France continue their quest for the world title, facing Lamine Yamal’s Spain in a blockbuster semifinal.
Climate
The BoE today updated its approach to shrinking its balance sheet and the result today is a further drop in gilt yields with the 10 yr yield now down 8.5 bps. They will halt for the next 6 months its asset sales and thi…
Climate
The market spent this week chasing a different driver almost every day. Inflation refused to cool enough for the Federal Reserve to relax, Europe moved closer to another rate hike, and oil stopped trading purely on war …
Climate
1. AI selloff looks like a reset, not a regime break: The selloff is painful but still concentrated in crowded AI and tech winners, rather than showing broad recession stress, disorderly yields or an earnings collapse. …
Climate
The Federal Open Market Committee primarily adjusts the stance of monetary policy through its target range for the federal funds rate. We discuss whether the fed funds rate remains the right operating target for short-t…
Climate
Last Thursday’s Treasury buyback operation was deemed “weak” in the financial media as it bought back just $5.19 billion, less than the $6 billion investors had anticipated. A buyback succeeds only if current bondholder…
Climate
Treasury Secretary Scott Bessent is in the midst of a historic effort to tamp down long-term Treasury yields. He may also be complicating the work of his counterpart at the Federal Reserve, Chairman Kevin Warsh.
Climate
August 5, 2026, 3:53 AM EDT.IPOs such as SpaceX and ChangXin Memory Technologies have generated worldwide interest, particularly across the tech and AI sectors. Still, with founders trying to maximize returns and invest…