Afterthoughts on yen intervention

Watch the profit share in GDP.

The view from the tower of Basel

… and how it doesn't apply to AI

Index-tracking funds are on ⁠track to ​buy a large chunk ​of the shares sold in SpaceX’s record $75 ​billion offering. ​With more than half the ‌U.S. ⁠market now invested by hands-off managers, benchm...

Looking beyond June

And: some unpleasant balance sheet arithmetic

... and some thoughts on President Lagarde's case against

Delphi debrief

Fed: don’t lose it; ECB: use it; Japan: keep paying the price

plus: Pull to the Euro - Hungary edition

What read-across to fed funds?

After 15 years, Viktor Orbán could lose power. But the opposition’s path is fraught with obstacles, from a lopsided electoral system to the extraordinary difficulty of restoring democracy even if…

The ECB can do more

The petrodollar story is overstated, and increasingly outdated.

The President's options

Market too hawkish

As dollar dominance wobbles, Europe should boost the euro’s reach, led by bolder liquidity lines from the ECB.

As dollar dominance wobbles, Europe should boost the euro’s reach, led by bolder liquidity lines from the ECB.

For both monetary and fiscal policy

Rates firmly on hold

Die Situation in #Japan sieht brenzlich 🔥 aus. Der #Yen wertet ab 📉 und die #Renditen steigen 📈 weiter. Die Sitzung der #BankofJapan scheint zunächst für Stabilität gesorgt zu haben, aber von Ent...

Someone has to make it

A comms guide

It's a big deal

Do neutral rate estimates matter? Should they?