Economy & Markets
Economy & Markets #47 - How Asian turmoil and AI doubts are testing market sentiment
Michel Salden
I am Michel Salden, an economist with over 20 years of experience in active portfolio management at companies including ABP and Vontobel. I specialize in credits, currencies, and commodities and am now active at Tresor Capital as an investment manager.
Economy & Markets
Economy & Markets #46 - Markets Seek Direction Without Data
Economy & Markets
Economy & Markets #45 - Two Speeds in One Economy: Why the Fed Is Caught Between Growth and Inequality
Strong profit growth at the top masks the pressure on the middle class and SMEs, making monetary policy increasingly difficult to balance.
Economy & Markets
Economy & Markets #44 - Opportunities for a New Investment Wave in the Gulf States
Researchers at KKR cite five factors why the Middle East is the place for investors in the coming decade.
Economy & Markets
Economy & Markets #43 - Private Credit: The Wild West of Wall Street
According to JPMorgan CEO Jamie Dimon, private credit is the new frontier of financial risk. The losses at Tricolor and Jefferies illustrate the vulnerability of this rapidly growing market, even as system banks show strong quarterly figures.
Economy & Markets
Economy & Markets #42 - Xi Jinping Plays the King of Diamonds, But Is It a Bluff?
How China has become a major power in precious metals, and Europe is once again the loser.
Economy & Markets
Economy & Markets #41 - From Tokyo to Silicon Valley: How Politics and AI Are Reshaping the Markets
Japan saw its first female prime minister, Sanae Takaichi, who is committed to defense and AI. OpenAI and AMD closed a mega-deal for 6 GW of computing power, a symbol of the AI supercycle. Analysts are torn between growth and bubble, while the US labor market continues to cool.
Economy & Markets
Economy & Markets #40 - AI momentum versus inflation worries and US shutdown
This week's topics: The third quarter showed strong stock market performance in Asia and the US, driven by tech and the expectation of interest rate cuts, while Europe lagged behind and inflation in the Netherlands and Belgium rose again. At the same time, political uncertainties increase the risks, with a Trump-initiated shutdown.
Economy & Markets
Economy & Markets #39 - U.S. attracts views again, Milei balances and Asia flourishes
This week's topics: The US economy surprised with strong growth figures, causing capital flows to return to the US, while Fed rate cuts and a weaker dollar provide additional support. In Argentina, Milei is achieving impressive inflation declines and growth with his reform agenda, but is facing political defeats and scandals. Asian stock markets
Economy & Markets
Economy & Markets #38 - US interest rate cuts and pressure on European pension funds
This week's topics: The U.S. Federal Reserve has started cutting interest rates to support the economy, a move that historically has a positive effect on equity markets. Other central banks are following suit worldwide, and indicators such as the 'credit impulse' point to more liquidity, which is a
Economy & Markets
Economy & Markets #37 - Reforms in France remain difficult and the U.S. corrects
This week's topics: France is once again facing political instability: the third prime minister in a year must unite a divided Assemblée and a towering national debt, while French bonds are now riskier than Italian ones. In the US, the labor market appears much weaker than previously thought after a record revision of
Economy & Markets
Economy & Markets #33 - Inflation falls, oil cheap: what does this mean for the Fed?
This week's topics: The US seems to be heading towards interest rate cuts due to falling oil prices and productivity gains from AI, while China and Europe are struggling economically. Dutch households leave €516 billion unused in savings accounts, missing out on wealth growth, unlike countries with a stock market culture. Cheap-looking small- and mid-cap stocks