Reflation trade may be dormant, not dead. Photograph: iStock

Last week was a troubled one for global markets. Stocks went south amid talk of Covid-19 variants, a global growth scare and plunging bond yields. Th(...)

Last month’s Bank of America fund manager survey found high inflation was viewed as the biggest tail risk facing markets. Photograph: iStock

US inflation hit a 13-year high of 5 per cent last week, but markets’ nonchalant reaction suggests investors share the Federal Reserve’s view that the(...)

One bondholder described the deal, which implies a recovery value of about 55 cents on the dollar, as a “creative compromise”. Photograph: iStock

By the time members of Argentina’s biggest bondholder group hopped on to their weekly conference call at 9am on Monday, August 3rd, the anxieties of t(...)

US stocks have experienced their fastest-ever move from all-time highs to a bear market. Photograph: Johannes Eisele/AFP via Getty Images

The longest bull market in history has been followed by the fastest bear market in history. No two bear markets are the same and the current one is un(...)

Wall Street, New York. It took only 20 trading days in the current descent for the Dow Jones to fall from all-time highs into a bear market. Photograph: Stan Honda/AFP/Getty Images

It’s hard to keep up with today’s markets. “We believe the S&P 500 bull market will soon end2,” Goldman Sachs said last Wednesday, predicting the(...)

The New York Stock Exchange. Last month, major US indices suffered their biggest one-day falls of the year after 10-year bond yields fell below their two-year counterparts for the first time since 2008. Photograph: Johannes Eisele/AFP/Getty Images

Not so long ago, only finance insiders worried about yield curve inversions – an obscure-sounding piece of market jargon denoting when long-term yield(...)

US president Donald Trump may view trade threats as a way of getting the rate cuts he craves, but this would be a pyrrhic victory if China accepts an economic downturn in order to hurt his election prospects. Photograph: Saul Loeb/AFP/Getty Images

Stock markets have been very volatile since the latest escalation in the US-China trade war. Unfortunately for investors, tensions look increasingly l(...)

One gets the impression right now that markets, buoyed by the likelihood of US interest rate cuts from an increasingly dovish Federal Reserve, want to go higher. Photograph: Michael Nagle/Bloomberg

The S&P 500 hit fresh all-time highs last week but investors aren’t excited. Far from it, according to Bank of America Merrill Lynch’s (BofAML) la(...)

Stephen Moore speaks during a Bloomberg Television interview in Washington, DC, on March 22nd. Trump said he’s nominating Moore, a long-time supporter of the president, for a seat on the Federal Reserve Board. Photographer: Andrew Harrer/Bloomberg

Investors should be alarmed by US president Donald Trump’s decision to nominate his chief economist, Stephen Moore, for a powerful post on the Federal(...)

US Federal Reserve chairman Jerome Powell   insisted the US economy remains strong, but many commentators speculated the Fed must be increasingly concerned about a looming slowdown Photograph: Jonathan Ernst/Reuters

Investors have been pricing in a more dovish Federal Reserve policy for months but they were nevertheless taken aback by the extent of the Fed’s U-tur(...)

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