The Fed’s 2026 Reckoning: When Data Meets Debt and Illusion
The long-simmering argument in the US Treasury market over what the Federal Reserve will dare to do in 2026 is about to turn openly confrontational,...
The Fed Cuts Again: a new piece of theatre
The Federal Reserve, ever anxious to appear both decisive and contemplative, has delivered its third consecutive rate cut, trimming another 25 basis points from the...
The Funeral of Easy Yield
For income-hungry investors, the age of lazy, state-sponsored abundance is drawing to an unceremonious close. For years, one could be handsomely paid for doing precisely...
The ECB’s 2% Illusion
Consumer prices rose 2.2% in November compared with a year earlier, up from 2.1% in October and slightly above the median forecast of economists surveyed...
When the Fed Loses the Plot
Investor certainty over a December rate cut, a confidence the Federal Reserve had itself so carefully stage-managed, has evaporated with theatrical brutality. US Treasuries endured...
Peace by Dismemberment: The West’s New Ukraine Doctrine
A 28-point “peace plan” drafted by American and Russian envoys would require Ukraine to surrender vast swathes of territory currently occupied by Russia, cap the...
Fed Minutes: Hawks Circle as Cuts Lose Altitude
Many Federal Reserve officials judged that holding interest rates steady for the rest of 2025 would be the sensible, or at least the least regrettable,...
Supreme Court Scepticism on Tariffs Leaves Everyone in Limbo
President Donald Trump’s fondness for sweeping tariff powers met a wall of sceptical questions at the Supreme Court on Wednesday, hinting that the justices may...
AI, Austerity and Amnesia: US Firms Axe Jobs at Fastest October Pace in 22 Years
American companies announced the largest number of job cuts for any October in more than two decades, as artificial intelligence quietly redraws corporate headcounts and...