There are things the government can try and fix during a pandemic and other things which it can't.
An update on the Democratic Primary. Confounding almost every forecast we saw last week, Senator Biden appears to have emerged from Super Tuesday with a sizeable delegate lead.
Consensus reactions to the Phase I US-China deal are very skeptical, but may be missing the broader point. A brief note on what happened, and the alternatives.
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.
The Fed halted tightening and propelled equities to their fastest recovery ever following a bear market.
Michael discusses this year’s Eye on the Market Energy paper. Topics include the unattainable objectives of the Green New Deal, an overview of the world’s de-carbonization challenges, Germany’s energy transition and Trump’s War on Science.
In this month’s podcast, Michael looks at the midterms: GOP gains in the Senate, an historic loss in the House given economic and market conditions, and what it means for investors.
In today’s special issue Eye on the Market, Michael takes a close look at the question of rising committed and unspent capital in private equity, and implications for investors.