Held Rates, Rising Risks
The bond market has stopped dreaming of rescue. A few weeks ago, investors were still clinging to the idea that the Federal Reserve would ride...
Tag: monetary policy
Europe’s Strategic Folly Comes Due
Europe is once again discovering that moral postures are not an energy policy. For years, the continent congratulated itself on its virtue, mistaking dependency for...
The Quiet War Behind the War: the Chinese strategy
There is the conflict everyone sees — missiles, oil, ships stalled in narrow waters. And then there is the other one, slower, colder, infinitely more...
$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...
No Cuts, No Illusions: The Fed Rediscovers Inflation
There are moments when central banks guide markets. And there are moments when they remind them, quietly but firmly, who is still in charge. This...
The ECB’s Next Move May Be a Rate Hike
The European Central Bank has not raised rates. Not yet. But the fact that such a possibility is now openly circulating inside Frankfurt tells its...
When Safe Havens Sink
For decades, financial orthodoxy has rested on a comforting assumption: when panic strikes, investors flee to the usual shelters — US Treasuries, gold, the yen,...
Europe’s Bond Mirage
The calm lasted precisely one day. European bond markets briefly stabilised before resuming their descent, as investors digested a reality that central bankers would rather...