The Great Lockdown Recession
The IMF published new estimates for the global economy, which weren’t great – to put it mildly. The coming quarters will be historically poor and the risks will remain thereafter. […]
Category Archives: MACRO
The momentum for fiscal stimulus is building
US President Trump is calling for a payroll tax relief until after the US elections. Australia just announced a EUR 11 billion package to counter the adverse impact of the […]
Is the strength of the US consumer overrated?
The US consumer, which represents a bigger share of global GDP than China’s economy, has been the main driver of US GDP growth in recent quarters. Spurred by job and […]
A missed opportunity
Economic growth in the Eurozone has slumped. Germany has even slipped into recession territory and yields are still extremely low, or even negative. Nevertheless, there is a noticeable absence of […]
Yield curve inversion, recessions and asset class returns
The US yield curve has (almost) inverted, and this has been making headlines for the last couple of months now. This should come as no surprise, as the yield curve […]
The IMF’s ‘remarkable’ track record
Forecasting recessions is hard. Just ask the IMF. The chart below, based on the work of Andrew Bridgen, chief economist at London-based Fathom Consulting, shows that the IMF has only […]
The era of extraordinary monetary policy continues
Few investors anticipated that Federal Reserve Chairman Jerome Powell could sound even more dovish than he has in recent months. But, at the last FOMC meeting, he managed to do […]
Stuck!
Italy’s economy has virtually stopped growing in the aftermath of the financial crisis. Real quarterly GDP growth has averaged a meager 0.05% since 2010. As a result, the debt-to-GDP ratio […]
Recession indicators are overrated for stock returns
Equity investors are always looking for signs of the next recession. Recessions mean higher unemployment, lower spending, lower earnings and ultimately more defaults, all of which are bad news for […]
2018 in (tweeted) charts!
2018 in (tweeted) charts! This blog aims to give a relatively concise overview of financial markets in 2018 using a selection of charts I tweeted throughout the year. While this […]
