Japan May Be About to Bring Its Money Home
For decades, Japan has quietly financed a significant portion of the global financial system. Its pension funds, insurers and institutional investors have channelled trillions of...
Tag: bond market
The Bond Market Has Spoken
The war may be fading. The bond market is not. Since the announcement of the fragile US-Iran agreement, investors have rushed to celebrate the return...
The Bond Market Under Pressure
For years, governments believed they could spend first and worry about financing later. The bond market is beginning to disagree. Global sovereign issuance has reached...
Europe’s Inflation Mirage Is Breaking Apart
For nearly two years, Europe comforted itself with a reassuring narrative. Inflation, we were told, was under control. The energy shock belonged to the past....
The Most Dangerous Chair in the World
Kevin Warsh arrives at the Federal Reserve at the precise moment when the institution is losing the luxury of ambiguity. For more than a decade,...
The Bond Market Is Beginning to Revolt
For years, investors were told that inflation was temporary, that central banks remained in control and that sovereign debt markets would continue functioning as the...
$2.5 Trillion Gone: When Bonds Stop Playing Safe
There are moments when markets break character. This is one of them. In March, more than $2.5 trillion evaporated from global bond markets. Not equities,...
The Illusion of Control: Bond Markets in the Age of War
There are moments when markets reveal more than they intend. Not through clarity, but through panic. Three weeks into the war with Iran, global bond...
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,...