We do not believe there is a bubble in government bond markets. Yields are low and bond prices high, but these levels can readily be justified by the outlook for the usual fundamentals that determine...

Commodity prices across all major classes have experienced three distinct phases: first, a period of prolonged broad price stability, followed by sharp rises in prices, and then sharp falls. Changes...

Many of the most enthusiastic cheerleaders for the commodity bubble have recently slashed their oil price forecasts. We are still happy with our long-held view that crude will average $50 per barrel...

Because of the zero bound on nominal interest rates, a period of deflation can result in high and rising real yields.