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Specials
Bond yields across the world are falling to record lows. US 30 year treasury yields are at their all-time lows and flirting with the 2% threshold, German 10-year government yields have crossed below -0.6%, and remarkably, Spanish 10y yields are
Apparently, the 25% correction in the ARS vs. the USD that we were expecting by the beginning of the week was not enough for the markets as some analysts and investors are now anticipating a first round victory for the Fernandez-Fernandez formula. The Argentine peso has lost approximately 40% in
The ECB is signalling that it may resume Quantitative Easing (QE) via bond purchases. And there is growing speculation that other central banks including the Fed could follow suit. Meanwhile, a growing chorus of analysts including Macro Hive’s own Salomon
Best of the Web
(You can read the article by clicking here) Continuing our recent discussion of Argentina’s woes from our specials this week, we picked this piece by Jayati Ghosh, a Professor of Economics at Jawaharlal Nehru University in New Delhi, who blames the International
(You can read the article by clicking here) A new paper by the Bank of England explores how foreign capital inflows specifically aimed at UK banks and financial institutions are channeled at home. Such flows can be large (they reached 100% of
(You can read the article by clicking here) Trump’s triumph is commonly attributed to the marginalised voters favouring his populism, fuelled by a rage against rising income inequality. This research by Brian Nolan, Professor of Social Policy at Oxford University,
China Digest from the Web
(You can read the article by clicking here) China, similarly to Japan and many Western countries, has an aging population and start-ups are waking up to huge market potential. With millennials too busy to look after their parents and retirement
(You can read the article by clicking here) Garry Groot, a Senior Lecturer in Chinese Studies at the University of Adelaide, outlines the little-known Chinese United Front Work Department within the Communist Party, designed to reach out to and influence
(You can read the article by clicking here) Real estate prices are rallying due to loose buying restrictions in Chinese localities and Central Government stimulus. Meanwhile, credit has failed to flow to SMEs and other industries. But the situation may
Podcasts
(You can listen to the podcast by clicking here) With Boris Johnson making the 20th Prime Minister to have attended Eton (considered the most prestigious private school in the UK), concerns are heightening around stagnating social mobility and class privilege. Data
(You can listen to the podcast by clicking here) This podcast continues the discussion around oil that we initiated last week, with McKinsey Partners examining the deceleration in conventional energy demand. The composition of GDP is changing – services will overtake
(You can listen to the podcast by clicking here) Nuro is a start-up aiming to bring autonomous vehicles into home delivery, and it’s backed a $1bn investment from Softbank’s Vision Fund. In this short interview, the founder, Dave Ferguson, who
Freshly Squeezed Working Papers
In recent years the availability of new alternative datasets for financial markets has expanded enormously, potentially giving investors an informational edge. These can range from consumer transaction data to satellite
Give Credit Where Credit Is Due: What Explains Corporate Bond Returns? AQR paper finds finds that options markets explain a great deal of credit returns. Two features of corporate bonds
The Risk of Returning to the Zero Lower Bound San Fran Fed writes “that there currently appears to be a low risk of the economy returning to the zero lower bound
