Practical analysis for investment professionals

Monetary Policy


No Longer Superheroes? Twilight of the Bonds

With low, nil, or negative yields, how much can bonds still contribute to a portfolio?

Eurozone Recovery Falters — What’s Next?

Powerful new instruments have to be created to revive a flagging eurozone economy.

Hidden Ideas in Macro: The Long-Forgotten “M”

A long-forgotten economic indicator demands a reappraisal, says Daniel Nevins, CFA.

Janet Yellen on Recession Risks, Inequality, and Climate Change

Janet Yellen sat for a wide-ranging fireside chat with Margaret “Marg” Franklin, CFA.

Richard H. Clarida on the Evolution of Fed Communications

Richard H. Clarida discussed what he calls "an evolution in Fed communication."

The Bezzle and the Central Banks

In today's bull market, the bezzle, or "inventory of undiscovered embezzlements," isn't stocked with Ponzi schemes and the like. Rather it is built on the notion that risky assets have become practically risk-free.

The Fed Has Few Options, Says Danielle DiMartino Booth

“You don’t have a lot to work with when the next discussion around the table is negative interest rates,” says Danielle DiMartino Booth.

Edward Altman: Where Are We in the Credit Cycle?*

Has the bubble in credit markets achieved new momentum? Edward Altman weighs in.

Russell Napier: Equity Markets and Structural Change

“Most people tell me that long-run equity valuation data is meaningless," says Russell Napier. "I think they’re wrong.”

Fixed Income: “Take What the Market Gives You”

"The thing about fixed income is avoiding the downside," says PGIM's Gregory Roberts. "We get penalized for losses and get very little for getting things right."



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