There is a whirr on the wires that the incoming economic data is going to start to soften, and likely to take down high profile mood-affecting markers like the mighty ISM Manufacturing Index. The Empire State Manufacturing Survey collapsed in January to its lowest print in well over a year, nuanced perhaps by the Omicron… Read More Clouds


The odd sweeping generalisation helps trim the fat off of life, but often risks simplifying things that need a bit more thought. Saying the market is expensive is one. It’s fashionable. Now, the market is expensive, almost on any valuation metric you care to consider, but within the market there have been some astonishing moves,… Read More Slowdown


The contortions in the market so early into a New Year could well be the foreshadow of some proper action. Look no further than what happened in the bond market last week which across the curve saw some truly eyepopping moves. The close on Friday saw the 30-year bond cap its worst calendar week, in… Read More Taps


In August 2010 the then Fed Chair Ben Bernanke suggested to his fellow decision makers they should think about an experimental programme to juice sluggish growth and stick some zizz into the jobs market. After some late night pow-wowing, they all decided to vote in favour of creating $600bn out of thin air to buy… Read More Pickle