Macroeconomics
Cut It Out
November 8, 2019
What is the greatest trick the Fed ever pulled? Convincing the world it doesn’t matter to markets for the next few months. This week we look at how the Fed tried to take some of the attention away from monetary policy at the last meeting.
Macro Wrap-Up
Don’t Stop Be-Leaving
October 25, 2019
Brexit has gone on for so long that most people have moved beyond Brexit fatigue, and we've reached Brexit fatigue fatigue. Does that mean it's interesting again? We think so because it's moving markets and is the topic of the Wrap-Up this week.
Macroeconomics
Bridging the Earnings GAAP
October 18, 2019
This week we return from the North to look at the gap between GAAP and NIPA earnings, in particular why earnings growth on national accounts has been so slow. We try methodically to nip the controversy in the bud, but the answer may be more elusive than you might expect. We find that, while the significance of the divergence may have been exaggerated, it is still sobering for investors.
Macroeconomics
Oh, Canada
October 11, 2019
What if a housing bubble burst and no crisis showed up? Canada may be in the process of finding that out.