Question 3 – Decoupling or not?

How isolated can certain parts of the global economy – such as emerging markets – be? This decade’s bull market is made in China and will probably end in China too. While we are all busy quantifying the US slowdown and its impact on the rest of the world, More…

Question 2 – Traction or not?

As inflation is well contained according to most statistics, central banks have the leeway to cut rates, and government bond yields are falling in general – US 10 year bond yields are down some 100 bp in the last few months. More…

Question 1 – Big economic impact or not?

The logic is simple. US consumers have a negative savings rate and have long depended on ever rising asset prices. These asset prices have stopped rising – real estate and possibly equities, More…