The announcement by President Trump that, starting October 1st, the US will impose 100% tariffs on imports of pharmaceutical products and a 25% tariff on imports of heavy trucks is not quite as big a...

The global geopolitical map could have been redrawn by the end of Donald Trump’s second term. Some form of rapprochement between the US and China is conceivable in the next few years, as is a...

President Trump’s latest flurry of tariffs implies that the US effective tariff rate will rise to about 18%, from 2.3% last year. That is a little higher than we assumed and so presents modest...

Most of the recent increase in long-term bond yields appears to have been driven by higher expectations for short-term interest rates as well as reduced demand from traditional investors in long-dated...