Chart of the week: fresh start
What could hardly be considered a surprise anymore still turned into one. The annual revision of US job growth came in even bigger than expected. As anticipated, it triggered a flood of reactions—though often the wrong ones.
Fresh start
What could hardly be considered a surprise anymore still turned into one. The annual revision of US job growth came in even bigger than expected. As anticipated, it triggered a flood of reactions—though often the wrong ones.
Chart of the week: ‘Les problèmes’
Lovely vacation or not, some things never change. Like the seemingly endless task of filling lunch boxes for school kids. But also, France’s political instability never ends. The simple reason is that the underlying problem—its budget mess—can no longer be cleaned up.
Chart of the week: The Next Catalyst
Now that several major trade deals—however skewed and ambiguous—have been announced, markets are left searching for the next catalyst to keep the bull market alive. One likely candidate can be found in some rented office space in Washington.
Chart of the week: celebration
While many economists were once again forecasting a recession and plenty of so-called market experts were calling an end to the rally, equity markets are celebrating summer with new record highs. I’m curious to see how they’ll explain their latest miss.
Chart of the week: a mega regime shift on the horizon?
Developments in public finances are unfolding at such a rapid pace that there’s barely time left to look at asset prices themselves. But if you take a step back, it’s hard not to conclude that we are witnessing a regime shift. So why is hardly anyone talking about it?
Chart of the week: lack of buyers
Each week, I think about which macro figure or market theme to explore in this column. Then, out of nowhere, another article pops up about that enormous elephant in the room: our debt-fueled economic system is creaking so loudly that it can’t be ignored.
Chart of the week: one big beautiful lie
It’s done. With the deciding vote cast—no less—by Vice President J.D. Vance, the “One Big Beautiful Bill” passed in the US Senate. Yet another piece of evidence that bond investors stubbornly refuse to acknowledge: their asset class is becoming obsolete.
Chart of the week: under control
Under control. No, that title isn’t about Iranian airspace—although, with recent developments, an entire column could easily be dedicated to that as well. The title refers to the American consumer, who, despite all the uncertainty surrounding tariffs, has yet to throw in the towel.
Chart of the week: reality check
European policymakers, economists, and politicians are in desperate need of a reality check—an awakening that brings them back down to earth and forces them to finally make effective, objective, and intelligent decisions. Something that has been missing for years.