Tag Archives for " US Federal Reserve tapering "

The power of one – WWG1WGA

No, I’m not referring to Qanon, but to the US Federal Reserve. Those central banks out there who thought they could get a free ride behind the Fed’s excessive monetary easing for a decade and a half, are now discovering that it came with a price, when the Fed started to pull back some of […]

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Will the Euro replace the US dollar? – Unlikely!

It may not feel like it, but it’s over. What that means is that having failed to burn down the warehouse for the insurance, the business owners are now left in an even more precarious position of insurmountable liabilities, assuming of course there is no ‘unexpected’ collapse in life expectancy to bail them out from […]

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Are equities expensive?

The spike in US bond yields has implications for equities, but perhaps not as directly as one might imagine. Yes, long bond yields and particularly TIPS, provide an effective proxy for a risk-free return and therefore the essential anchor for valuing other asset classes, but only from a relative rather than absolute perspective.  It may […]

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