Market Overview

Economic CommentaryThe election of Donald J. Trump has provided the world with another Brexit-esque political surprise. News of the election outcome immediately triggered a broad risk-off sentiment in...

China’s State Administration of Foreign Exchange (SAFE) reported a large drop in forex assets in October. This was unsurprising given what we already know of “dollar” conditions from...

We tried to tell you... Back in September, we predicted that a Trump victory would ravage Mexican markets and transborder stocks. We noted, specifically, that a prominent Mexican-American railroad...

I have political views, but I try to keep them out of my classes and my blog posts. I teach and write about corporate finance/valuation, not political science, and I don't think it is fair to subject...

Covered call writing and selling cash-secured puts obligates us to buy or sell shares at the strike price by the expiration date. Exercise will generally occur if the strike is in-the-money by 4 PM ET...

Our bull case for the US dollar has been predicated on the divergence of monetary policy and the relative health of the financial system. What is new, and investors are anticipating, is fiscal...

Unless you have been living in a cave, you are probably aware the country has elected a new president. Leading up to Election Day, the anxiety was palpable. A populist wave, much like the one...

From the look of the inversely related, mirror images of USD vs. gold, my pattern work strongly suggests that each has more road to travel in prior to my expectation of a significant reversal -- down...

Some of the heat has come out of the ‘Trumpnomics’ inspired rally in equities and sell-off in fixed income. That said, we are still seeing the Dow Jones index trade to a new record high,...

This is the fourth document based on a trip to China this autumn. We look at China's challenges relating to overcapacity and the lack of reform of inefficient state-owned enterprises (SOEs).To read...

Donald Trump’s unprecedented win in the U.S. elections has raised may questions about what the future will look like. At the forefront of the conversation is the proposed economic policies of...

The forces unleashed by the US election results continue to drive the capitals markets. The combination of nationalism, reflation and deregulation are seen as good for US equities and the US dollar....

Today is a very quiet day in terms of data releases. It is the Veteran's Day in the US today and although it is a public holiday, US stock markets are open.Most interestingly, the preliminary...

Mauricio Macri won the presidency of Argentina in November of last year. In December he gave the Argentine economy its first dose of tough medicine: a 30% devaluation of the peso. In U.S. dollar...