Shadow Banking
The Hedge Fund House of Cards Propping Up US Treasuries
This writer remains of the view that Treasury bonds are in a structural bear market and that equity investors should…
War, Tariffs, and Trump: The Midterm Reckoning
At one point this writer used to think that the mid-term elections were not so important to Donald Trump personally…
Private Credit – This Cycles Systemic Risk
The Iran war is in the headline for entirely understandable reason. But AI remains the other key story for the…
The Great China Deleverage: Economy Ain’t Broke and Stocks OK
There remains a lot of noise about incipient trade wars and the like between the US and China. But, interestingly,…
More Xi: China’s Pathway Towards Economic Stability
There were significant developments out of China last quarter. The most important was the announcement by state media in late…