Money supply grows, but not inflation rates

Monetary aggregates are growing briskly across the globe. The outlook for inflation remains benign, at least for now

Slow, but not so steady

Until the Covid-19 virus is finally defeated, the recovery looks set to continue at an uneven pace. Our Macro outlook explains why.

U.S.-China tensions continue to rise

China is far behind on agreed import quantities from the United States. The trade dispute might be about to resurface, but the real battles are being fought elsewhere.

U.S. Economic Outlook

By: Christian Scherrmann

After the drop comes the rebound. Will that be followed by a long recovery?

Real yields are falling. Should we worry?

While U.S. yields have been stagnating for months, inflation expectations are rising again and real yields are falling. Normally, this does not bode well for economic growth.

It’s too early to write the dollar’s obituary

In recent months, European policymakers have caught foreign-exchange markets by surprise. That says little about future exchange-rate developments.