Global risk assets had another tumultuous week, responding to the spread of the coronavirus, paltry efforts to mitigate its economic fallout,
An ounce of prevention is worth a pound of cure
Continue Reading
Economics
The Coronavirus Infects the Markets
Global risk assets sold off heavily last week on concerns that the coronavirus pandemic may significantly dent growth and corporate earnings.
A COVID-19 Emergency Response Plan
The COVID-19 epidemic is accelerating, and as the new coronavirus approaches pandemic status, it is increasingly likely that the economic
Rising Uncertainty
Markets have suffered a hiccup in recent days, with stock prices dipping at the end of the past week. Long-term interest rates are once again
The Reality of Wyoming’s Fiscal Future
Few images better capture the Wild West’s by-gone era of adventure and lawlessness than ‘most wanted’ posters adorned with the grimacing
Pandemic Panics
The global overreaction to the coronavirus outbreak has once again exposed a lack of preparedness to use the knowledge and tools already at
Germany’s Crisis of the Right
The resignation of Annegret Kramp-Karrenbauer, the leader of Germany’s Christian Democratic Union and Chancellor Angela Merkel’s designated
Navigating the Virus
This was the week when markets began to succumb to worries about the spread of the coronavirus.
What The Coronavirus Tells Us About Stocks and Bonds
Occasionally, the arrival of something unusual provides an opportunity to dispel lazy thinking about how things really work. The unusual is
Why Economists Should Climb a Mountain
Despite this constant (though arguably sideline) presence in modern culture economists have avoided examining the motivations behind the pursuit
Restoring Central Banks’ Credibility
The old central-bank playbook of slashing interest rates to spur consumption, investment, and employment has become less effective since the
Would Wealth Taxation Reduce Philanthropy?
The wealth tax proposals by some major Democratic party Presidential candidates initially have received broad bipartisan polling support and
The US economy’s strange decade
Weak productivity growth helps to explain the continued robust rates of job creation in the United States, as well as workers’ sluggish
An Interview with Larry Hatheway, UBS Chief Economist
In September 2011, the IMF estimated that roughly half of the Euro Zone’s $9 trillion in outstanding government debt was now at ‘heightened
Global Markets Q4 Outlook: Recession or Resilience?
Over the final quarter of 2019, the tug of war between economic resilience and recession risk is likely to dominate market outcomes and asset
We Are All Active Investors Now
Strategic asset-allocation decisions determine most of an investment portfolio’s subsequent return. Investors need to focus more on the
What to expect from 2019’s ‘post-peak’ economy
Twelve months ago, investors were giddy.Markets were buoyant, supported by synchronous global growth and market-friendly US policies, including
The Dollar’s Rebound Is More Mystery Than Economics
The dollar is staging a comeback. Pundits are out in full force, suggesting this might finally be the end of its recent weakness and the
The Trade Leadership Deficit
Even if Donald Trump’s protectionism proves to be a short-run aberration, US global dominance is likely to continue to decline. To ensure
Equity-market smiles don’t have to become frowns
As 10-year Treasury yields climb, investors are fixated on 3 percent, a level where many fear an equity market meltdown. Yet that threshold
Welcome to the Post-New Normal Era in Markets
Get ready for the post-new normal.
Recent market volatility reflects more than just an unwinding of positions or the failure of a
What I learned at Davos
Davos man must change. But that cannot mean rejecting the core commitment to the view that human ingenuity, fostered by open societies and
Trump’s First Year Echoes Obama’s Record on the Economy
The first year of Donald Trump’s presidency was marked by some of the worst political turbulence in modern U.S. history. But when it
Will Monetary Policy Trigger Another Financial Crisis?
Sustained unconventional monetary policies in the years after the 2008 global financial crisis created the conditions for the second-longest