By far the dominant theme in global financial markets in 2022 has been the rise in interest rates and bond yields. Central banks are fighting inflation, they have left it late to do so, and they’ve spent much of 2022 trying to catch-up. The US central bank raised rates in increments of 75 basis points. …

AVOIDING THE HOUSE OF CARDS Read More »

Through a combination of social distancing, more effective treatment, and vaccines, we find the number of new COVID-19 cases has been declining around the world. Of course, there are some notable exceptions like India where the virus continues to ravage communities and is currently responsible for more than 3500 deaths every day. Other exceptions include …

The COVID Recovery Read More »

Policy makers effectively inoculated financial markets from the virus in March-April last year. The forceful policy response by global central banks, all vowing to do whatever-it-takes to preserve financial markets and support the economy, was the very start of an extraordinary and coordinated policy effort. The monetary and fiscal easing served to keep financial markets …

Inoculation – MST February Newsletter Read More »