The prospect of additional quantitative easing (QE) by a number of major central banks in the developed world has coincided with a renewed surge in the prices of risky assets. We are sceptical that...

This month’s intervention by Japan to weaken the yen has contributed to fears of a “global currency war” or, viewed more positively, to hopes that large-scale unsterilised intervention by the major...

We now expect gold prices to stay high for several more years. Fears of runaway inflation or a dollar collapse, which underpin some of the most bullish forecasts for gold, remain exaggerated...

According to the latest quarterly Flow of Funds Accounts published by the Federal Reserve on Friday, US non-farm non-financial companies (firms hereafter) returned more money to their shareholders in...