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…