We are all a bit surprised by how illiquid bond markets have become. If you look at the currency markets, they have remained liquid and I would argue that the stock markets have been. So it s an interesting development for a market that … Continue Reading…

Every time government authorities change policies in order to push the market up or down they are simply reinforcing the idea that the Chinese stock markets are not a machine for allocating capital so much as a machine to achieve the … Continue Reading…

We are all a bit surprised by how illiquid bond markets have become. If you look at the currency markets, they have remained liquid and I would argue that the stock markets have been. So it s an interesting development for a market that … Continue Reading…

Every time government authorities change policies in order to push the market up or down they are simply reinforcing the idea that the Chinese stock markets are not a machine for allocating capital so much as a machine to achieve the … Continue Reading…