Financial markets often exaggerate, making a “random walk” past the facts: if they ignore positive signals, pessimism prevails. When…

What went well and what could have been better? Financial markets started the year on a positive note: bonds…

We fought many plagues Of course, first we had to fight the pandemic. We did that spending a lot…

Economic complaints are raining down from all sides, often with increased interest rates as the deeper background. And yet…

Inflation rates fell, while interest rates rose sharply in September. The explanation is possibly because statistics look back, but…

A few years ago, the financial world was as beautiful as Goldilocks: self-evident growth and low inflation. But it…

This could be an account of a first boring summer-month. Do I hear ‘’summer”? When I step into the…

It is starting to get a bit boring: interest rates, rising further as core inflation remains high, especially in…

There are increasing signs of a recession in the goods sector: during the pandemic, parcels were flying around our…

Inflation can also be profitable The earnings season has started again. Caution about profits has been trumped up for…

Last month was quite turbulent in financial markets. There was fear of banks again, just like in 2008, but…

We are now two months into the new year: 1 month of interest rate optimism and 1 month of…

It is of all times, this battle in financial markets, but now it is even more topical: the fight…

First of all, a Very Happy New Year! You and I, we all have New Year’s wishes. But what…

What is the score? Who is scoring, who is trailing or downright failing? These are exciting times. I enjoy…

The battle between bull and bear is the familiar metaphor for stock market sentiment. For a long time, bears…

In these tense times, politicians throw colossal extra government spending or tax cuts into the fray to keep a…

“There is a hole in my bucket, dear Liza, dear Liza”, was a well-known song from my childhood. Politicians…

In our previous newsletter, I wrote about the widespread fear of a recession, which scared off many investors and…

For months, I have been tiring you with stagflation risks and now economies are stagnating not only in Europe…

Have you ever experienced normal financial markets, and if so, what was it like? You might then say, “yep,…

Think of stagflation as a series of increasingly expensive bottlenecks. Think of Schiphol Amsterdam Airport where there are not…

We are in a phase of capitulation. That means you do something that you usually don’t want to do…

In many ways, Russia’s invasion of Ukraine is a game changer. For starters, the postwar peace in Europe has…

It is no longer news that January brought a cold wind over markets. One that came from the Federal…

How do we look back on the financial markets of the past year? Just like in 2020, bond markets…

Finally, after nearly a year of excruciatingly soaring inflation rates, Fed Chairman Powell threw in the towel. The ‘temporary’…

Financial markets have long remained in denial, but now the diagnosis of inflation is becoming more widely shared. As…

Everything is temporary, but sometimes temporality lasts a little longer. And if ‘everything’ means less pleasant things, such as…

This catch phrase is central in a global debate, but even relevant in the formation of a new government…

We have now reached the final rounds of the interest rate competition. The heat is on, it gets exciting,…

One of the hardest things to do is to pretend weather conditions are excellent when you have just been…

It seems simple: the government orders money, the central bank supplies it, keeps the interest at around 0% and…

The world is getting back on track, especially in the US, where nearly 1 million jobs were added in…

Inflation and interest rates If there is no inflation, interest rates are low and stocks are likely to be…

Bubbles Many of us will remember the tech-bubble in the late 90s when the talk of the day was…

Hope and reality Naturally, I’d like to start this newsletter by wishing you a relaxed and healthy New Year.…

Special developments and achievements experienced during a certain period of time are often named “golden moments”… This was certainly…

And the winner is… It is the fourth day after the election, and the outcome is almost certain: Joe…

The RobinHood App and financial markets in September Last month, I wrote to you about wishes for an angry…

Transfer and tax union Europe has really crossed the Rubicon. About 2000 years after Caesar did. And even now…

Sweet It is the upside-down world of an economic crisis that does not want to become a financial crisis.…