The news that China’s share of US Treasury holdings has fallen to a 12-year low, alongside the surging Federal budget deficit, has prompted the usual warnings that the US will struggle to find buyers...

The US economy still appears to be sailing on serenely while the rest of the world economy sinks like a stone. The latest survey data for January show an apparent capitulation in both China and the...

The acceleration in broad money growth to a six-year high in December should put to rest any lingering concerns about the impact of the Fed’s balance sheet run-down on the economy.

Even if the Fed has stopped hiking interest rates sooner than we originally envisaged, we doubt that will prevent a marked economic slowdown this year. After all, that dovishness was partly prompted...