…represents the market’s best guess at the value of existing assets and their future output. When existing-assets markets go up, they quite literally create new wealth (we could call it…
…percent of GDP, to prop up their share prices by repurchasing their own stock. Last year’s buybacks were about 3.3% of market capitalization. The reader may have noticed that I…
by Joseph Joyce Global Volatility, Domestic Markets Unlike the global financial crisis of 2008-09, the current disruption in the financial markets of emerging market nations was anticipated. The “taper tantrum”…
…who would probably re-enter the jobs market and be interested in a job, if wages were better. That’s a Day in the Life of the jobs market in May 2017…
…But for right-wing neoliberalism, the free market is an end in and of itself. Simply put the free market in place, and goodness results. Unlike right wing neoliberalism, however, centrist…
by Joseph Joyce Venezuela and the Next Debt Crisis The markets for the bonds of emerging markets have been rattled by developments in Venezuela. On November 13,Standard & Poor’s declared…
R.I.P. bond bull market, 1981-2016 On September 30, 1981, the 10 year US Treasury bond yielded 15.84%. It has not been that high since. On July 8, 2016, it fetched…
…50 advanced and emerging market economies. They report that monetary tightening in the U.S. leads to a decline in foreign GDP, with a larger decline found in the emerging market…
…with China is a one-way street. China opens its markets to an unprecedented degree, while in return the United States simply maintains its current market access policies. ‘It is difficult…
…We’ve had as big or bigger moves downward a number of times during this bull market, including a -20% down move in 2011. Could the market move still lower? Of…