The transition to the world being created by COVID-19 was always going to be difficult for workers in the worst-affected sectors. The main
Training for the Pandemic Economy
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Economics
Priorities for the COVID-19 Economy
With hopes of a sharp rebound from the pandemic-induced recession quickly fading, policymakers should pause and take stock of what it will
Wanted: New Leadership
Another week and more rising global equity markets. But also, more outperformance by the market’s stalwarts —growth, technology and momentum.
TINA, Meet Keynes
TINA – There Is No Alternative – is a popular Wall Street acronym describing a key reason why equities remain so popular. TINA is about
Reviving the WTO
The World Trade Organization has an irreplaceable role to play in transforming countries’ economic prospects and the lives of people around
The Pandemic Must End Our Complacency
With an economic downturn as severe as the Great Depression and political conditions similar to those in the run-up to World War I, an international
Has the Market Lost Its “Mind?”
Over the past decade, and even more notably in recent months, stock markets appear to have de-coupled from fundamentals. Or have they? In
Be Careful What You Wish for, Caesar
The pandemic and its economic shockwaves are fundamentally re-ordering world affairs. Look no further than Europe.
A Bend In The Road?
After a powerful and nearly uninterrupted rally dating from late March, global equities lurched sharply lower this past Thursday, before staging
How Markets and Governments Must Work Together
Economists have long known that the liberal ideal is an abstraction, a useful tool for theoretical reasoning, but hardly a template for reality.
Private Equity and Build Back Better
Boston Consulting Group’s latest ‘state of the nation’ on the asset management industry is a data-rich confirmation of the seemingly
Recovery or Relapse?
Beneath the market’s joyful response to inflection points, levels of spending, output and joblessness remain bleak.
Pandemic, Payrolls, Protests and Politics
Wall Street’s favorite adage, ‘climb a wall of worry’, may soon be put to test. Following the powerful equity market rally of the past
Globalizing the Fight Against the Pandemic
As a global problem that will remain a threat everywhere as long as it is still present anywhere, the novel coronavirus demands a collective
The View From Argentina
Argentina is in crisis. The pandemic had turned a bleak story into something worse. The country may shortly default on its national debt for
Where’s the Bottom?
Alongside the US Memorial Day holiday, we explore the latest high frequency indicators of global economic activity. Our aim is to provide
A Mountain of Debt
The latest data on US government borrowing are very impressive. The Federal deficit in April alone was $738 billion. For the first four months
Re-Opening Does Not Signal Buy
Markets dipped this past week. Might this signal the end of the recent rebound? Or is it merely a pause, with further gains to come?
Balance Sheet Fault Lines
Equity markets are waxing and waning on day-to-day news. Are earnings reports, new infection rates, vaccine development or hints about further
Are “Dismal Scientists” Dismal Enough During Recessions?
Economics is often called “the dismal science”. And economists are very pessimistic about the near-term outlook as a result of the recent
On the Same Page—For Better or Worse
This past week equity markets continued their impressive recovery from their Covid-19 lows.
Time to Face Up to Reality
It was all very predictable. The mood of fanfare and almost universal applause that greeted the launch of the big bazooka COVID-19 support
Repress Covid, Repress Finance?
The economic crisis unfolding in western economies is the fastest and deepest on record.
Market Compass: Six Headwinds
Markets recovered strongly in April. US equities enjoyed one of their best months since the 1930s, credit markets stabilized, and even depressed