In US-Russia Relations, a Little Subtlety Goes a Long Way
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.
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?