Policy divergence is the driver of market vulnerabilities. The longer the US stands alone in tightening policy, the greater the stress on the financial system.
When China builds a trade surplus, it accumulates dollars. And it has to do something with those dollars. That means its purchase of US dollar assets is non-discretionary unless it revalues its currency.
The UK says it will leave customs union on in a year's time. But the border issue between Northern Ireland and the Republic of Ireland remains unsolved. And while the Irish border is a particularly vexing issue, there are other near-term…
As Trade War Heats Up, Biggest Currency Whales Make Their Move - Great article. Central banks are starting to diversify away from the US dollar. Many Wall Street strategists now see the euro as a viable alternative. My view: this shift…
Probably not. As Mnuchin and President Trump have done before, a distinction was drawn between short- and longer-term perspectives.
If bitcoin and its equivalents can deliver what its champions promise, what’s not to like? Well, the rub is what Economist Abba Lerner said “The modern state can make anything it chooses generally acceptable as money".