As the ten-year yield has edged higher over recent weeks the sheen has come off gold. The air has started to hiss in one of the best performing asset classes year-to-date. Selling pressure picked up post Chairman Powell’s Jackson Hole speech, as the curve broke higher. What ultimately drives the price of gold remains a… Read More Gold


The numbers are astonishing: $2 trillion market cap. Give or take, about the same as the entire market cap of the FTSE 100. Daily moves in the share price amount to the GDP of small countries. Sri Lanka one day, Bulgaria the next. Indeed there are now not many countries with a GDP bigger than… Read More Apple

T Cells

Given its back catalogue, the Journal Science is long on credibility. It was the first to publish the entire human genome, studies tying AIDS to human immunodeficiency virus, and the earliest images of the Martian surface. Befitting, then, of a publication that was launched with the help of the great electric all-rounder, Thomas Edison. This… Read More T Cells

Drive Time

There are many ways to monitor the pickup in driving activity as lockdown restrictions ease. Ask around, sit beside a duel carriageway with a thermos and a clip board. Or poke Apple or Google for their mobility trends. All sources show a pick up. Bank of America uses credit card data. Given Bank of America… Read More Drive Time


In a study published in a high-brow industry journal, scientists at Emory University and Baylor College of Medicine set out to explain how people responded to the unexpected. It turns out that pleasure centres in the brain do not react equally. They react more strongly when any such pleasure is unexpected. That may be true… Read More Aon