Japan’s prolonged period of low interest rates, a key feature of its economic policy for decades, has significant implications for global markets.

We have written many times on QE (Quantitative Easing) and QT (Quantitative Tightening); however, we have never talked about QN. QN is the ultimate goal for central banks – but what exactly is it?

Consumption spending accounts for approximately two-thirds of the US economy. It is vital that we understand the dynamics of the consumer because if the consumer falters, so does the US economy, which has far-reaching consequence

Higher real rates in the coming years might favor value stocks

Renowned for its role as a hedge against economic uncertainty and inflation, gold has long captivated investors. One key factor influencing gold’s price is the relationship between real yields and inflation. Over the long term, gold has protected one against the pernicious effects of inflation and remains a powerful diversifier within an investment portfolio:

Javier Milei, Argentina’s newly elected president, shares similarities with Roosevelt in that he has inherited, to put it mildly, a struggling economy, and has begun attempting to implement reforms in very quick order.

What’s more, if you’d taken a 12 month sabbatical through 2023, spent on a desert island listening to the Smiths and the Velvet Underground, then upon firing up your Bloomberg on New Year’s Day, what would be most surprising of all, is that none of this uncertainty is visible in markets.

Every year, the largest banks, asset managers and consulting firms publish their economic and market outlooks for the following year, highlighting key topics, trends, opportunities and areas of concerns. For the first time, we have used ChatGPT to skim-read through and summarize 48 of these outlook presentations and built a database, containing the various opinions expressed in the the areas that are traditionally of interest to our clients and us.

Demographic changes are set to have a significant impact on the world economy in the coming decades, as we have discussed on a number of occasions.