A tighter monetary policy of the Federal Reserve will potentially be the most important factor affecting the global financial markets next year. In this Focus, we consider the reactions we can expect...

We are not convinced by the Russian finance ministry’s claim on Wednesday morning that the ruble is “extremely undervalued”. After all, Russia has undergone an enormous deterioration in its terms of...

The sharp drop in oil prices has played a major role in the recent poor performance of the MSCI Frontier Markets (FM) Index, in which a small number of oil exporting countries have large weightings...

It is tempting to think that a prolonged period of mild deflation in the euro-zone would be terrible news for equities. After all, Japan’s stock market generally fared poorly for much of the time...