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By now, everyone knows that private credit is a hot market. What's less known is that banks want in on it too. It's an odd state of affairs given that both these entities are in the business of making loans, so in theory
On September 18, the Federal Reserve kicked off the cutting cycle by reducing overnight rates by 50 basis points. Since then, mortgage rates have gone higher. This is not obviously an intuitive thing to happen. The point
For decades, investors have been told that diversifying is a good thing. You should hold a basket of stocks across different sectors and geographies, plus bonds, maybe some commodities or real estate, and so on. But, it
In September, Chinese policymakers shocked the markets by unveiling a set of stimulus measures designed to boost the economy and bolster the real estate market. While it's too soon to know whether the announcements will
Big tech stocks have had an enormous impact on the stock market, with Magnificent 7 companies like Apple, Microsoft and Nvidia now dominating equity indices and basically dictating the path of benchmark returns. And of c
What if your contracts could be a roadmap to running your business – the first step in managing your relationships with your suppliers and clients? That’s the function of Sirion, a contract lifecycle management software
In 2022 and 2023, the Federal Reserve basically had one focus: defeating inflation. That's now changed. Keeping inflation at bay is still important, but the Fed is now attuned to labor market risks as well. On this episo
In recent years, we've seen the emergence of cities whose main industry is that they're a great place to live if you're rich. Dubai would be the ultimate example of this dynamic. But it's not just Dubai. Lots of cities,
Multi-strategy hedge funds are still all the rage on Wall Street, but what does it actually mean to be a pod shop and how are they being set up? On this episode, we speak with Dan Morillo, co-founder of Freestone Grove P
The US is in the midst of a big effort to bring more semiconductor manufacturing onshore. Intel is the biggest US semiconductor manufacturer. There's just one problem. Intel has really been struggling to get its fab oper
In 2017, Congress passed the Tax Cuts and Jobs Act, which may be better known as the Trump tax cuts. Due to the way fiscal policy works in the United States, a large component of the bill was temporary. And starting in 2
Earlier this month, we got the surprising headline that the shuttered nuclear reactor at Three Mile Island will be restarted. Of course, Three Mile Island was the site of a famous disaster in 1979 — one of the incidents
Look out. Supply chains are back in the news. As soon as next week, workers at all of the ports on the US East Coast could go on strike, crippling trade across a range of industrial and agricultural parts of the economy.
Right now, industrial policy is back in vogue in the US. The administration is making an effort at reviving specific sectors, notably in areas of clean energy and semiconductors. But despite all of the money being spent
These days if you talk to people about the stock market, they might talk to you about the effect of the Fed. Or they'll talk about the Mag 7 and AI capex spend. Or they'll extoll the virtues of passive, low-cost investin
The Future Proof Festival takes place right on the beach in Huntington Beach, California. Thousands of registered investment advisors from all over the country come to talk shop, take pitches from vendors, eat tacos, dri
This week, the Fed cut benchmark rates by 50 basis points. Lower financing costs should be a relief for companies that need to borrow in the form of bonds or loans. But, the weird thing about the previous few years of hi
It’s Fed Day, and while everyone expects the central bank to cut benchmark interest rates, the key question is by how much? Will it be 25 basis points or 50? Investors are evenly split between the two possibilities, sett
15 years ago was a pivotal moment for financial media. On the one hand, we were in the midst of a huge financial crisis, which shook everything up and exposed how little we knew about our own world. In addition to that,
Financial institutions have been a leading target for cyber crime since the dawn of the internet. But phishing schemes have become far more intricate, and cyber heists go beyond stealing money from a bank. JF Legault, De
This week, former European Central Bank President and Italian Prime Minister Mario Draghi published a long-awaited report examining ways to make the European economy more competitive. The report comes at a time when ther
One of the big buzzwords over the last year or so has been "overcapacity." There's a constant line of argument that China is unfairly flooding the world with unprofitable goods and creating huge, unsustainable imbalances
One of the rare areas of bipartisan consensus in the US right now, is on the need to change our trading relationship with China. Former President Donald Trump started a process of putting tariffs on Chinese goods and lim
Pretty much since the moment that cryptocurrencies came into existence, there's been a chorus of skeptics who argue that they solve no real world use cases, except for gambling and speculation. For a while, there was a l
One of the problems in investing or trading is that — to use a common disclaimer — past results are no guarantee of future success. Someone can have a great track record in their stock picks, but maybe they just got luck
There's been a lot of talk about private credit in recent years. The market has exploded in size, and there are worries that it could be a bubble that eventually bursts and sparks disaster. But there are other negative e
Last week at Jackson Hole, Federal Reserve Chair Jerome Powell delivered a short and powerful speech indicating that it's time for a policy pivot. The goal now, from his perspective, is to prevent further deterioration o
Remember August 5th? That was the day that markets around the world plunged in historic fashion and everyone became an overnight expert on the yen carry trade. But what really is the yen carry trade? How big is it? Who i
When the Treasury market broke in March 2020, the Federal Reserve intervened in extraordinary fashion. It purchased more than $1 trillion worth of Treasury securities in that month alone. Superficially, this looked a lot
At Jackson Hole, Fed Chairman Jerome Powell gave a clear signal that the rate cut cycle is likely to start in September. But of course that just opens more questions. Will it be a 25bps cut? Will it be 50? Could it be tw
This year’s Economic Symposium in Jackson Hole, Wyoming marked a big change for US monetary policy, with Federal Reserve Chairman Jerome Powell telegraphing the first rate cuts in potentially two years. But what’s it act
Every year, the Federal Reserve Bank of Kansas City hosts an economic symposium in Jackson Hole, Wyoming. It’s a chance for central bankers and other policymakers to talk about issues facing the global economy, debate ac
Synthetic risk transfers, in which banks purchase insurance-like protection on some of their loans, is a growing market on Wall Street, with billions worth of deals made in the US last year. But of course, anything with
Political prediction markets — where traders can make bets on election outcomes — have been around for years. But in this cycle in particular, we've seen an explosion of interest, with people constantly checking the odds
The Federal Reserve appears to be ready to pivot into rate cutting mode. Inflation has come down significantly, and the unemployment rate has been trending upward for most of the year. In fact, in the most recent Non-Far
The past few years have thrown up a number of potential weaknesses in the American economy. There've been disruptions to supply chains stemming from the global pandemic. There are concerns about the availability of strat
When it comes to financing the US government's borrowing needs, the Treasury Department has some discretion in how it's done. It can sell 30-year Treasuries. It can sell 10-year Treasuries. It can sell a lot of three-mon
Hasbro has been making toys for decades, including many classic favorites like G.I. Joe and My Little Pony. But in recent years, it's also been going big on digital games. An app version of the classic board game Monopol
There's a lot of hype around generative AI and many people have interfaced with ChatGPT, Claude, or Gemini at this point. It's fun to ask these large language models to come up with a song parody or to write a story, but
The S&P 500 has plunged more than 5% over the past couple of trading days. The Nasdaq 100 is down 7%. The Nikkei fell an astonishing 13% on Monday and then triggered a circuitbreaker as it climbed up 10% on Tuesday.
The Nasdaq is now in correction territory and the S&P 500 is down more than 2% so far this month. Analysts are blaming any number of things for the selloff, including a slowdown in the economy, the Federal Reserve be
This week, the Federal Reserve opted to keep interest rates unchanged while suggesting that it could cut as soon as September. But there's an ongoing discussion about whether or not the Fed is behind the curve, with some
When it comes to chips for artificial intelligence, obviously the name that automatically comes to mind is Nvidia. The company is making a fortune selling semiconductors used for hot AI applications like large language m
Vapes like Elf bars seem to be everywhere now. Meanwhile, Zyn nicotine pouches have become a huge seller for Philip Morris and are in such demand that it's sometimes hard to find them in stores. So where are all these ne
We've all seen headlines about the multi-million dollar properties being sold in Miami. Right now, there's a $135 million mansion in Coconut Grove listed on Zillow, and Citadel CEO Ken Griffin has been snapping up a stri
Multi-strategy hedge funds, also known as "pod shops," have become the hottest ticket on Wall Street. The business model is supposed to allow hedge funds to operate more efficiently. That includes deploying capital in a
There are several sources of tension right now between the US and China. Pure trade anxiety is a big one, with the US having imposed tariffs on Chinese electric vehicles, solar panels and other important industrial compo
When people talk about the special role that the US dollar plays in the global economy, that's often characterized as a privilege for the United States. It's seen as giving the government in Washington a great amount of
According to numerous estimates, the US is massively short of housing. Zillow, for instance, says America needs to build 4.5 million new homes to climb out of this deficit. But right now we're not coming anywhere near to
One of the rare areas of bipartisan consensus in the US right now is taking a tough line on China. We saw President Trump put tariffs on Chinese goods, and the Biden administration has only added to them. A second Trump