Macro Considerations

The macro picture remains largely unchanged. Janet Yellen is expected to lead the Federal Reserve into a new phase by beginning to taper its long-term asset purchases early next year. The ECB is expect to move in the other direction, leaning against th… [...]

These 441 (And Rising) Retailers Are Offering "Bitcoin Black Friday" Deals

If one of the initial fears surrounding Bitcoin, or rather digital currencies of which there suddenly appears to be a veritable tsunami now that anyone with an algorithm can become their own central bank (and all are exploding in value in what should m… [...]

Frontrunning: November 27

Winter storm lashes eastern U.S., threatens Thanksgiving travel (Reuters) Fed Reveals New Concerns About Long-Term U.S. Slowdown (BBG) Private equity keeps $789bn of powder dry (FT) – because they are “selling everything that is not nailed down” Merke… [...]

Frontrunning: November 25

Washington turns bond market upside (FT) China Air-Zone Move Expands Field of Islands Spat With Japan (BBG); Japan rejects China claim on airspace over disputed islands (FT) ‘Great Satan’ meets ‘Axis of Evil’ and strikes a deal (Reuters) Iran Pact Fac… [...]

Goldman’s Top Ten 2014 Market Themes

The following Top Ten Market Themes, represent the broad list of macro themes from Goldman Sachs' economic outlook that they think will dominate markets in 2014. Showtime for the US/DM Recovery Forward guidance harder in an above-trend world Earn … [...]

The Financial Times Follows Up On Reggie Middleton’s Admonitions Of A Canadian Housing Bubble

Two months ago I answered the query, Is There A Bubble In The Canadian Condo Market? for my subscribers. The missive started off like this:  The Canadian condo market is running into a precarious over-supply… [...]

Guest Post: Understanding China’s Arctic Policies

Submitted by Arthur Guschin via The Diplomat, Within the last seven years 11 countries (Poland (2006), Russia (2008), Finland (2009), France (2009), Sweden (2010), Iceland (2011), Spain (2011), Denmark (2012), Singapore (2012), Canada (2012) and Japan … [...]

The American "Rags To Riches" Dream Is Now History For Most

It would appear that the Horatio Alger myth – that hard work and pluck will lift a person from dire circumstances to enviable success – is not living up to expectations for Americans. As WSJ's Lauren Weber notes, 40% of Americans think it’s f… [...]

Key Events And Issues In The Coming Week

With better US labor market data, the key event in the upcoming week could well be the Yellen nomination hearing in the Senate Banking Committee. Yellen will likely deliver brief prepared remarks followed by questions from members of the committee. Yel… [...]

The Fallacies Of Forward Guidance

With the recent adoption of explicit forward guidance as a stimulative policy tool by the major European central banks, virtually every major central bank is now using the tool in some form. The potential benefits and dangers of such policies as centra… [...]