There was little market reaction to Emanuel Macron’s widely-anticipated big victory in the French presidential election. The euro actually retreated somewhat, in a “sell the news” dynamic. European equities ended the week mixed. European bonds were somewhat more interesting. Bund… Read More ›
Doug Noland
Doug Noland: Belly of the Beast
There remains this dangerous misperception that economies can simply grow/inflate their way out of debt problems. This is at odds with reality. Especially late in the cycle, liquidity is funneled into inflating asset markets rather than to the real economy… Read More ›
Doug Noland: Unsound Finance
With Emanuel Macron and Marine Le Pen moving on to next Sunday’s (May 7) runoff French presidential election, first-round results proved right in line with the polls. One would typically expect “as expected” results to elicit minimal market reaction. But… Read More ›