Weekly Market Compass

Although the ‘recency bias’ tempts our minds to assume today’s high interest rates are here to stay, the fundamentals of economics suggest

The Silicon Valley Bank debacle has many lessons, starting with the conclusion that banking may simply be too important to be left to the

While it is tempting to assume the market is driven only by the direction of the Federal Reserve, what is happening in China should also be

Global equity markets are priced to perfection, a state that is unlikely to remain unchallenged.

The Phillips Curve has fallen into disrepair, leaving central bankers without reliable tools to navigate through the fog. That ought to worry

The 20th century was defined, in many ways, by the worst of Germany. The 21st can yet be defined by its best moral self.

Although John Kenneth Galbraith once said ‘The only function of economic forecasting is to make astrology look respectable,’ we think

Economics is full of inherent contradictions — and wisdom for those with the humility to unpack them.

A great deal has been written about the demise of FTX, the cryptocurrency exchange run by Sam Bankman-Fried (SBF). Many of the post-mortems have focused on potential fraud, drawing comparisons to Enron’s collapse in the early 2000s. Less ink has been spent on...

This coming Thursday, Americans celebrate Thanksgiving. Thanksgiving is a family gathering, thankfully without the obligation of gift-giving. It is a holiday to reflect on that for which we are grateful. Turkey is the mainstay of the traditional Thanksgiving dinner. A...

Trick or treat? This cycle still looks more likely to deliver the mischievous than the sweet.

The exact experience of the UK crisis will probably not be repeated elsewhere, but financial stress and crises are the norm when monetary

Stocks and bonds will not find a sustainable bottom until investors are confident that market prices fully discount the degree to which central

Don’t be fooled by mixed signals. The world economy is slowing down and recessions are arriving.

In American sports, the final quarter is often when the game is decided. Investors hope Q4 will salvage an awful year — they may be disappointed.

The economic and financial market outcomes now unfolding will be unpleasant, but they are not likely to be cataclysmic.

Environmental, social, and governance investing is fundamentally about finding new ways to manage risk.

It is premature to conclude that weak profits will force equity valuations down significantly.