A hundred years ago last week began the bloodiest offensive of the First World War, with 2.6 million casualties – almost as much as the Somme and Verdun combined. Yet no one talks about this centenary. To understand why, imagine Vladimir Putin, Angela Merkel and a dozen former Austro-Hungarian countries laying a wreath in western … Continued
By Mervyn King
(Little, Brown 2016)
It’s hard being Governor of the Bank of England. You get given the top economics job in the UK, inhabiting a fortress in the City with mulberry-jacketed doormen. You set the price of money for 60 million people, forecasting hopes and fears for their collective wealth, controlling the supply … Continued
How pension policy cowardice helped doom Britain’s steel industry. Tata’s decision to write off the value of its UK steelmaking business and seek a quick sale, while keeping its Dutch business, is really a story about pension regulation.
Recent Libor rigging trials highlight the tensions between criminal prosecutions and regulatory probes into banks’ business practices
Artificial intelligence is attracting billions of investment dollars but the history of the field should teach us to be wary of the latest hype
Are central bank bond purchases and negative interest rates changing the way we think about money and debt?
I may be late writing about the movie ‘The Big Short’ but it somehow makes sense to have watched it in the week that Deutsche Bank’s problems sparked an unprecedented exodus of investors.
Any time markets adjust to a different price level, no one feels it more than those who sold options on the market beforehand. They learn whether the premium received justifies the pain they might feel today.
In 2015, size equalled success in the stock market. But did benchmarking make this a self-fulfilling prophecy? Let’s start by looking at the market capitalisation of S&P 500 companies at the end of the year, with colours according to price change.
There have been plenty of words written about the high-yield corporate bond market in the last week, but sometimes a chart expresses things better than words.