NEW EU FISCAL RULES – Victory for the Expansionists or the Prudentials?
Amidst the prospect of a soft landing and lower interest rates, the European Council unanimously voted in favor of reinstating fiscal safeguards...
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IFO Nugget: Recession and Target Inflation?
There is no way around the fact that, no matter how many officials refrain from admitting it, Germany and central economies in Europe are in, at...
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Steno Signals #78 – Santa Powell Handing Out Gifts Even to the Naughty!
Powell invited for a yuuuge risk asset party this week by allowing the market to continue to chase the narrative of material rate cuts in 2024.
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Portfolio Watch: Liquidity the Name of the Game
Cuts by March? We are not dismissive, but we would deem it close to fantastic if the Fed communications manage to pivot the economy without pushing...
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Bull Steepening Watch – Is Lower Yields Really What Risk Assets Want?
Let’s run through each asset class to see where to put your eggs if a bull-steepening of the yield curve continues into 2024.
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