22 October 2017 Investors appear convinced that stimulative G-7 monetary policies lie behind the markets’ record-setting performance. To be sure, that was the case between 2009 and 2015. During the past three years, however, I believe the impact of monetary policy has been quite neutral, the key driver of markets more recently has shifted from [...]
26 September 2017 Despite Europe’s recent economic upswing, Germany’s election result provides a stark reminder of the region’s political discontent in the aftermath of the Euro crisis, protracted unemployment, and increasing income inequality. Following the disappointing elections, can Chancellor Merkel and French President Macron produce the domestic and EU reforms needed to produce European prosperity? [...]
Peterson IIE NAFTA When you want to know about NAFTA, there is no better place to look than the Peterson Institute for International Economics. Here's a great, recent assessment.
3 September 2017 Welcome to the launch of what will be a regular strategy review. Macro-themes have dominated market moves, especially following the Brexit referendum and the US and French elections. With the Trump Presidency entering a potentially decisive six months, I believe this will remain true during the year ahead. I am a believer [...]