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Bond Markets Remain Under Stress

Published by Laurent Maurel | Oct 5, 2023 | 13517

The current bond crash is historic. The EDV ETF, which measures the price of very long-dated US Treasuries, has fallen by 58% in just over a year. The bond market's current fall is now greater than that recorded by the equity market during the last financial crisis in 2008 (-56%).

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Central Banks and Inflation: Where Are We Headed?

Published by Julien Chevalier | Oct 3, 2023 | 10032

As central banks continue their headlong rush to the top, they are faced with a Cornelian dilemma: bring inflation down to 2% at the risk of triggering an unprecedented economic and financial crisis, or allow prices to rise, which would call into question their mandate and lead to social upheaval.

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Gold Rush in China

Published by Laurent Maurel | Sep 29, 2023 | 19538

The price of gold falls in London while it rises in China. The divergence reported in my last article continues this week. The Chinese gold and precious metals market seems to be following its own trajectory.

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Is Inflation Boosted by Oil?

Published by Philippe Herlin | Sep 28, 2023 | 10665

The ECB has just raised its deposit rate to 4% and halted its sovereign debt repurchases, with the stated aim of stamping out inflation. Unfortunately, this will probably have little effect, as oil prices are slowly but surely climbing.

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A Brief History of the Gold Rush

Published by Julien Chevalier | Sep 19, 2023 | 12693

Some people know the story of the Gold Rush from the Charlie Chaplin film, others from TV shows or books of all kinds. At the very least, historians consider this period to be one of the most significant of the 19th century. Both fascinating and structuring, it is particularly revealing of American...

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Inflation Back on the Rise in the United States

Published by Laurent Maurel | Sep 14, 2023 | 9295

In the United States, the consumer price index (CPI) rose by 0.6% in August and by 3.7% year-on-year. This is an acceleration on the 0.2% monthly increase and 3.2% annual gain published in July. The year-on-year increase is higher than the economists' forecasts. In other words, August's CPI exceeded...

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Weakened Economy, China Looks Beyond Its Borders

Published by Julien Chevalier | Sep 5, 2023 | 13012

It is becoming clearer an clearer that China will not be the leading power in tomorrow's world. Since the pandemic, China's economy and banking sector have been in dire straits. The country is looking for new sources of growth. At the BRICS summit, held in Johannesburg from August 22 to 24, Xi Jinpi...

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