Markets

Q2 2026 Earnings: The Strongest Season in Five Years

Corporate America just delivered one of its best earnings seasons in recent memory. With the vast majority of S&P 500 companies now reporting, the

Kevin Warsh Wants to Rebuild the Fed.

The financial markets have had a rocky relationship with Jerome Powell over the years. With Kevin Warsh now stepping in, many investors are hoping thi

Crude Economic Realities

While the “blockade of the blockade of the Strait of Hormuz” was initially mocked by many, the U.S. naval blockade has fundamentally changed the econo

Could Private Lending Cause a Market Crash?

Investors worry that private debt could trigger a 2008-style crisis. We believe the comparison is flawed: private credit today is far smaller, better

Do Geopolitical Risks Matter?

Geopolitical risks seldom have a lasting impact on asset prices. Investors who panicked and sold during COVID, Ukraine, or the 2025 tariff shock ended

Kevin Warsh and the Fed

If confirmed as Fed Chairman, Kevin Warsh will push for lower inflation, a smaller balance sheet, and a narrower mandate — developments we view as sig

Understanding Donald Trump

Trump's announcements can be explained by four factors: a craving for attention, a bombastic negotiation style, a preference for appearances over subs

UBS will Not Leave Switzerland. Here is Why.

After the demise of Credit Suisse, the Swiss parliament and authorities have been discussing tougher capital rules for the four Swiss systemic banks.

There Are No Alternatives to the US Dollar

One can go through all the currencies in the world. But at the end, the dollar is the only currency that offers investors safe and liquid sovereign bo

Greek debt yields converge with those of France

Greek government debt may soon become less risky than that of France — an incredible turn of events over the past ten years.