Market Thinking

making sense of the narrative

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Tag: stagflation

After a year of bad policy, the risk is that the Central Bankers say ‘hold my beer’

The dirty little secret of Monetary Policy in much of the west is that it has actually long been really a form of fiscal policy. When you have a population with large amounts of floating rate debt, changing the cost Read more…


Market Thinking October

Two sides to Every Story September turned out to be true to type, increased risk aversion in and around the triple witching mid month led to a spike in the price of put options (expressed as a higher VIX) and Read more…


Market Thinking August

The only thing normal about this summer seems to be the seasonality around markets as they increase risk aversion in the face of of light volumes and low liquidity. While we should ignore short-term traders as they try and make Read more…