Europe’s Energy Crisis Is Becoming a Sovereign-Debt Crisis
Europe is entering winter with an energy problem. It may leave it with a fiscal one. The renewed fighting between the United States and Iran...
Tag: UK
Europe’s Next Inflation Shock Is Sitting in Its Gas Tanks
Europe’s inflation problem is changing shape again. Oil dominated the first phase of this year’s energy shock. Natural gas may dominate the next one. European...
The Return of the Inflation Triangle
The global economy is entering a new inflationary phase, not because one single shock has overwhelmed the system, but because three distinct forces are beginning...
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...
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...
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 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...
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...
MFS: Collateral Is Not Character
As Market Financial Solutions slid into distress in London, the setting felt contemporary, but the script was eerily familiar. A non-bank lender stepping into the...