Market Thinking

making sense of the narrative

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Category: Bubble Watch

Why good news on Trade could be bad news for US Investment Grade Bonds (and Taiwan)

The search for yield is not a new phenomenon, even if it has intensified under QE. For years, the big Japanese Life companies in particular were prone to allocating to strategies that offered high nominal yields in foreign currencies, before Read more…


The Petrus Indicator (and others)

After the GFC I was on an investment panel and we were asked what Central Banks should look out for as an early warning of another bubble before it bursts. I suggested slightly tongue in cheek that they employ the Read more…