The second wave of the Coronavirus is here. What next?
In May, we published a Special Report detailing the potential… Read More »The second wave of the Coronavirus is here. What next?
In May, we published a Special Report detailing the potential… Read More »The second wave of the Coronavirus is here. What next?
In this blog, we present the anatomy of a financial… Read More »The anatomy of a financial crisis
One thing missing from basically all economic analyses of the… Read More »The approaching European (global) banking crisis
We have been warning about the impending economic crisis since March 2017. Central bankers and Chinese leaders have been able to postpone the onset of the crisis for…
The economic calm which has succeeded the turbulent conclusion to 2018 was abruptly shattered on the 16th of September. On that day, rates in the repo markets spiked by 248 basis points to more than double the overnight lending rate of the…
Errata in the third paragraph (“steepening” -> “flattening”) corrected in 04/08.
Yield curve inversion has spooked the markets. In all honesty, it should not have come as a surprise. After the Federal Reserve pivoted early January and …
For some years now, we’ve been very wary of the legitimacy of the “economic recovery”.
The stock market has been rallying lately. It has been supported by the People’s Bank of China (PBoC), which started its liquidity operations in mid-December, and the Federal Reserve (Fed), which changed to a much more ‘dovish’ tone in January. But, …
The highly obvious, probable threats that nobody should say they never saw coming –yet are not always getting the attention that will resolve them.
– Michele Wucker, March 15, 2018
When our suspicions about the current global expansion a…
2019 has started more calmly after a very volatile year-end in the markets. Focus has been on the trade deal between China and the US and the words of the central bankers, most notably those of Jay Powell. However, this is all just a distraction, a s…