Stocks Hold the Record. Bonds and Oil Already Speak of Another Regime.
Hans Holbein the Younger was born in Augsburg around 1497 and died in London in 1543. He worked first in Basel, then entered the orbit […]
Treasury yields
The Same Text, a Different Manuscript
Ten-year U.S. Treasuries closed Wednesday at a yield of 5.11 percent. That level was last seen in July 2007. The figure is the same. The […]
Why long-term yields are rising when inflation is not
The 10-year US Treasury yield is near 4.80 per cent. Japan’s 10-year has reached 3 per cent for the first time since 1996. Brent is […]
When Debt Speaks Louder Than the Fed
In 1588, Philip II of Spain sent against England the largest fleet Europe had ever seen - the Spanish Armada. The objective was clear: to […]