Russia’s Federation Council announced that Moscow’s recent attempts to host a meeting between North Korea and South Korea failed because Pyongyang was reluctant to cooperate. A Russian official described talks with the North as long and difficult. It appears that Russia’s stance on North Korea may be shifting, and this may be part of its strategy on Ukraine.
Is Indexing Wrecking the Markets?
On the grand scene of financial innovations, the exchange-traded fund was fairly innocuous at first. It took a good 15 years of slow realization for people to figure out how disruptive they would ultimately be.
The Savings Glut’s Long Life And Slow Death
Demographics, some say, can explain two-thirds of everything (the problem of course is knowing which two-thirds). Demography has certainly influenced long term asset-price trends.
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.
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?
Hurricane Maria Is Killing Puerto Rico’s Golden Goose, but It Was Already Dying
Puerto Rico is America’s drug factory. Most major pharmaceutical companies have facilities there. This includes Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Pfizer, Procter & Gamble, and Wyeth. Hurricane Maria has nearly shut it down.
Catalonia’s Referendum Unmasks Authoritarianism in Spain
The Spanish government’s violent crackdown during the Catalonia referendum on Oct. 1 is the latest crisis to challenge EU institutions.
India Is in a Serious Cyclical Downturn That May Linger until 2020
Modi's admirable reluctance to blow the budget, even while contemplating a fiscal stimulus, means that the stench of underperformance will hang over India’s funky economy for at least the next year.