Pivotal on New Federal Reserve Chair Kevin Warsh’s reform agenda, is the abandonment of the Federal Reserve’s forward guidance, a multi-decade tradition at the Federal Reserve since the pre-GFC days of Alan Greenspan. In reaction, economists, strategists, and portfolio managers from major institutions as Pimco, Lord Abbett, T. Rowe Price, JP Morgan, and The Conference Board are all on the record that the end of forward guidance will increase market volatility.
Unless you’ve been on an island without cell phone coverage for the past several days (in which case, good for you!) you are certain to have heard of the non-coup, coup attempt in Russia over the weekend.
The graveyard of once legendary business franchises has just added one more new member to its ignominious fraternity. The hastily arranged acquisition of Credit Suisse by its chief Swiss rival UBS in March 2023, ended the 166-year run of the global symbol of Swiss banking largesse. Credit Suisse was once the 15th largest bank in the world with offices in 50 countries and assets of over $1 trillion USD.
View PDF | Print Version “Russia is a riddle wrapped in a mystery inside an enigma” – Winston Churchill This is now the fifth time Russia has become ‘uninvestable’ in our careers, so we have plenty of experience in seismic shocks such as these. The way to...
Sino-pessimism is easy to find these days, perhaps with good reason. China spent 2021 cracking down on its most lucrative businesses, shuttering entire for-profit sectors, seeing several large property companies teeter on the edge of bankruptcy, suffer energy shortages, constrain the economy under an ongoing zero-Covid policy.
