Tail Risk is Growing: But Not Where You Might Think
Risk is commonly measured by volatility as well as various types of interest rates and yields, for example the yield of credit default swaps. However, to what degree do these indicators reflect the real level of risk exposure in financial markets today?
What Russia’s Middle East Strategy Is Really About
A new balance of power is solidifying in Syria. Iran, Turkey and Russia have all played a role in the conflict there – jockeying for position and even agreeing in September to set up zones of control. But Russia in particular has deftly managed the game up to this point, and it is emerging from the Syrian civil war with a strong hand.