Global monetary conditions are still exceptionally accommodative and are set tor emain so even if the Fed raises rates in December, as we think is likely. Sovereign bond yields are close to record...

The tone of the IMF’s latest World Economic Outlook, published today, was decidedly gloomy. But we suspect that their forecasts will need to be lowered further over the coming year or so.

The manufacturing PMIs published today and late last week suggest that global growth was broadly steady in September. The biggest news was from the US where the ISM manufacturing survey rebounded...

It is impossible to be sure what Donald Trump would actually do if he became US President but ourbest guess is that he would back away from his most radical proposals on trade policy. And even if he...