Since 2010, there has been an almost perfect correlation between the strength of the US economy and stock markets outside the US. But this is set to diminish.

Anatole Kaletsky

Are equities at the end of a five-year cyclical bounce or the start of a 15-year structural breakout? History suggests two contradictory answers.

Anatole Kaletsky

The assassination of Archduke Ferdinand in Sarajevo 100 yrs ago tomorrow lit the fuse to WW1. There are many points of modern relevance in the catastrophe.

Anatole Kaletsky

Last week's most important financial event was not US payroll data, the ECB, or the rapprochement with Putin. It was the pricing of Uber, at 60 times rumoured revenues.

Anatole Kaletsky

In finance and geopolitics, experience must always prevail over hope, and realism over wishful thinking. A grim case in point is the Russian incursion into Ukraine.

Anatole Kaletsky | 2 comments

The bullish mood suddenly changed in early January. Here is a structure for thinking about recent market events that may be helpful in assessing new evidence as it comes along.

Anatole Kaletsky

So it was all a storm in a teacup. Markets have been going through a series of "taper tantrums” since Bernanke first mentioned the idea of tapering.

Anatole Kaletsky