Last year, buybacks were all the rage; this year, the pace of share repurchases has slowed, but the pace of mergers and acquisitions (M&A) has accelerated.
Improving credit fundamentals, light tax-exempt supply and robust demand have driven the strong performance of municipal bonds in 2019.
In this special holiday edition, Michael explains how an evening at home went awry: how a discussion about China and Hong Kong morphed into a chart war about Trump, Hoover, Taft, Rachel Maddow and Anderson Cooper.
In 2020, the hunt for yield is likely to continue.
The Armageddonists and the price of fame.
Global trade tensions may continue into 2020, weighing on global growth and acting as a headwind for further equity market gains.
EM should continue to provide a substantial economic growth alpha relative to developed markets due to better demographics and a productivity catch-up.