Mar 12th 2025 What prompts a revolution? When it comes to investing, no change has been as great as that produced by researchers at the University of Chicago in the 1960s. Their financial-theory revol...
It seems like five minutes ago that America’s stockmarket was the only game in town. Prices were breaking records every other week; rivals around the world had been left behind. Now investors’ faith i...
Mar 10th 2025 | NEW YORK THE SELL-OFF shows no sign of stopping. America’s S&P 500 index dropped by another 3% on March 10th, leaving the world’s most watched stockmarket down by almost 9% since its p...
Mar 9th 2025 | Tallinn War and peace are notoriously difficult to price. Just now they are even harder to ignore. Three years ago Russia’s invasion of Ukraine sent a wave of disruption through financi...
Mar 9th 2025 | New York “A strong dollar is in our national interest.” The simple message from Robert Rubin, who became treasury secretary in 1994, marked a turning point. For decades, American policy...
Canada’s business press remained sanguine. Belligerent statements by the American president, one Toronto-based newspaper wrote, were mere campaign rhetoric; he would ultimately decide against tariffs ...
The capital of Malawi, one of the world’s poorest countries, runs on aid. A city built in the 1970s by the World Bank, Lilongwe’s straight streets are filled with charities, development agencies and g...
Mar 5th 2025 | Mexico City, Ottawa and Washington, DC Keeping abreast of Donald Trump’s utterances on tariffs, from actual announcements to vague threats, is a dizzying task. One day he is set on wrec...
It is a fabulous time to be a gold bug. Not long ago, outing yourself as one was a good way of getting people to back away from you at an investment conference. The popular image was of someone in pos...
Mar 3rd 2025 | Washington, DC HE HAS ACTUALLY gone and done it. President Donald Trump had long threatened to impose hefty tariffs on Canada and Mexico, America’s two biggest trading partners. Last mo...
Mar 2nd 2025 | Washington, DC “The golden age of America begins right now.” So declared Donald Trump on January 20th in his inaugural address. In the six weeks since that chilly day, investors and eco...
