The world is a profoundly surprising place. That was the case in 2019 – few people predicted a vintage year for both bonds and equities, with the latter outperforming despite no earnings growth. Already in 2020, we have been taken by surprise by events involving the US and Iran. What… Read the article
Month: January 2020
European Central Bank has one item left in its toolkit: dual rates
A version of this article originally appeared in the Financial Times last week.
There is a widespread assumption that the European Central Bank — like other major central banks — has reached the limits of monetary policy, and that the… Read the article