What gold, bonds and tech stocks have in common
What gold, bonds and tech stocks have in common
"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
The charts that matter: Tesla triumphs
The charts that matter: Tesla triumphs
As Tesla becomes the world's most valuable car-maker by market capitalisation, John Stepek looks at how that affects the charts that matter most to th…
4 Jul 2020
The end of the bond bull market and the return of inflation
The end of the bond bull market and the return of inflation
Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Collateralised debt: will it be 2008 all over again?
Collateralised debt: will it be 2008 all over again?
Collateralised debt obligations (CDOs) triggered the 2008 financial crisis. Now we have CLOs, or collateralised loan obligations – securitised busines…
26 Jun 2020
Corporate bonds: central banks top up the punch bowl yet again
Corporate bonds: central banks top up the punch bowl yet again
The corporate bond market continues to deliver unlikely returns, as America’s Federal Reserve stepped in with unprecedented support.
18 Jun 2020
The charts that matter: the green shoots of global recovery?
The charts that matter: the green shoots of global recovery?
With US employment data coming in much better than expected, John Stepek looks at how that’s affected the charts that matter most to the global econom…
6 Jun 2020
The charts that matter: the US and China – the calm before the storm?
The charts that matter: the US and China – the calm before the storm?
John Stepek looks at how the rising tension between the US and China over Hong Kong has affected the charts that matter the most to the global economy…
30 May 2020
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Gilt yields head below zero
Gilt yields head below zero
Yields on gilts – UK government bonds – have gone negative, meaning investors are paying the Treasury to borrow money from them.
28 May 2020
The US Federal Reserve's backstop keeps the bond market afloat
The US Federal Reserve's backstop keeps the bond market afloat
An announcement back in March from America's central bank, that it would buy corporate bonds, has given the corporate bond market a fillip even as com…
22 May 2020
Curiouser and curiouser: 20 years in the markets
Curiouser and curiouser: 20 years in the markets
Central banks have been interfering with market and economic cycles for two decades, undermining capitalism and storing up huge trouble for the future…
21 May 2020
The bond bubble keeps inflating
The bond bubble keeps inflating
Most major stockmarkets remain down on the year, but government bonds continue to gain ground.
15 May 2020
The world's massive debt pile will be inflated away
The world's massive debt pile will be inflated away
The huge pile of government and corporate debt is likely to be dealt with by a combination of high taxes, financial repression and inflation.
1 May 2020
Here’s why cutting interest rates hurts more than it helps
Here’s why cutting interest rates hurts more than it helps
Cutting interest rates is often seen as an easy way to stimulate an economy. But it doesn't always work like that, says John Stepek. Here's why.
27 Apr 2020
Cracks appear in corporate-bond ETFs
Cracks appear in corporate-bond ETFs
Severe volatility has opened up gaps between company-debt market trackers and the underlying assets.
21 Apr 2020
The charts that matter: recession is here – how deep it will get?
The charts that matter: recession is here – how deep it will get?
After a week in which US unemployment claims topped six million, John Stepek looks at how the charts that matter most to the global economy are lookin…
4 Apr 2020
The charts that matter: the helicopters are unleashed
The charts that matter: the helicopters are unleashed
In a week when all sense of what's normal went out the window, John Stepek looks at what's happened to the charts that matter most to the global econo…
21 Mar 2020
The world is drowning in corporate debt
The world is drowning in corporate debt
The world’s $74trn “ocean of corporate debt” contains many hidden perils which could infect the wider financial market
20 Mar 2020
The corona crisis will mark the end of the longest-running trend in markets
The corona crisis will mark the end of the longest-running trend in markets
With politicians and central bankers enthusiastically embracing money printing and a recession almost certainly not too far off, the slide in bond yie…
20 Mar 2020
Albert Edwards: beware US corporate debt
Albert Edwards: beware US corporate debt
The mountain of debt run up by US corporations leaves the economy very vulnerable to any disruption, says Societe Generale's Albert Edwards.
16 Mar 2020
The charts that matter: that was a week for the history books
The charts that matter: that was a week for the history books
John Stepek looks at how the events of a remarkable week in the markets have affected the charts that matter most to the global economy.
14 Mar 2020
Is this the last hurrah for the government bond bubble?
Is this the last hurrah for the government bond bubble?
Traditionally, the government bond market is one of the most boring on the planet. Not any more, says John Stepek. Things have blown up big time. Here…
9 Mar 2020
The charts that matter: fear takes over
The charts that matter: fear takes over
As the US cut interest rates and the markets tanked further, John Stepek looks at how the week's events have affected the charts that matter the most …
7 Mar 2020