Southern European Stocks Looking Juicy Driven by Gov’t Bond Buying

That a mass roll-out of vaccines is now on the horizon, on a six-month view, remains a reason to stay focused on the cyclical “back to normal” trade; though the... Read More»

Europe is the Cyclical Catch Up Trade & Gold is the Hedge

Powell Leaves Wiggle Room for Negative Rates CPI inflation in the US has not yet turned negative on a year-on-year basis which is the sort of trigger that is l... Read More»

The More Main Street Opens Up, The More Stock Markets Will Like It

Wall Street-correlated world stock markets remain remarkably well bid given the appalling macroeconomic data being announced. There remain two main explanations... Read More»

The Impact of Weakening Business Confidence on the U.S. Economy

I'm still hopeful, as are financial markets, that some sort of trade deal can be agreed between the U.S. and China in the current quarter. Still there's a r... Read More»

Labour Reform Helping France’s Economy to Finally Bounce Back

An interesting article appeared in the London-based Financial Times last month (“French central bank chief says ECB should not be driven by markets”, July 1... Read More»

Eurozone Fiscal Integration – The Escape Valve for European Banks

There have been interesting developments of late in the Eurozone. These have raised expectations of even more dovish monetary policy as well as renewed hopes of more fiscal activism.... Read More»

Italian Politics: The Calm Before the Next Storm

Europe remains a potential source of angst for financial markets in the form of another existential crisis for the Eurozone. True, stock markets have relaxed ov... Read More»