debt

What to Expect from the World Bank and IMF

The spring meetings of the World Bank and IMF will be held virtually this week amid a profound economic crisis spurred by a novel coronavirus.  Unlike previous such viruses, this went global in such a destructive way that many countries have responded the same way.  Encouraging social distancing, closing non-essential businesses, and enforcing lockdowns.  The …

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Sources of Imbalance and the Pushback Against New Divergence

The US dollar’s surge alongside gold has eclipsed the equity market rally as the key development in the capital markets.   Even the traditional seemingly safe-haven yen was no match for the greenback.  The dollar appeared to have been rolling over in Q4 19, as the sentiment surveys in Europe improved, Japanese officials seemingly thought the …

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