Where can investors find sustainable sources of return?
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
For the first time in 20 years, markets will have to survive without support from central banks.
In this year’s Holiday Eye on the Market, Michael records a note to his spouse on her father, the 2020 US Presidential election, and what might be the widest ideological divide in 100 years.
Michael recaps the self-inflicted wounds of the Section 301 tariffs, and recaps his meetings in DC with a group of Congressmen to discuss debt, deficits and financial markets.
Should investors fear an erosion of the illiquidity premium?