American unemployment falls, but normality is still far away
5 June 2020, 1:00 am
The question remains: how many jobs have gone for good?
Americans saved a record chunk of their incomes in April
4 June 2020, 3:47 pm
The economic recovery depends on their willingness to splash the cash
Can Hong Kong remain a global financial centre?
4 June 2020, 3:47 pm
The $10trn financial centre is in the eye of a geopolitical storm
Japan probes the limits of economic policy
4 June 2020, 3:47 pm
Including loan guarantees, fiscal support this year will amount to 40% of GDP
ESG investors get their heads around social risks
4 June 2020, 3:47 pm
Thanks to covid-19, these woolly risk factors are in the limelight
America’s public-pension funding crisis worsens
4 June 2020, 3:47 pm
Funding ratios have fallen and the cost of provision has risen
Is there a role for options insurance in equity portfolios?
4 June 2020, 3:47 pm
Nassim Taleb and Cliff Asness, two high-level thinkers on finance, disagree
Downturns tend to reduce gender inequality. Not under covid-19
4 June 2020, 1:00 am
Women’s unemployment has risen more than men’s
For the first time in 30 years, China has no GDP target
30 May 2020, 1:00 am
The government will not set one this year, reflecting the pandemic’s uncertainties
Can private-equity firms turn a crisis into an opportunity?
30 May 2020, 1:00 am
Their performance matters both for investors and the wider economy
The World Bank lands Carmen Reinhart as chief economist
30 May 2020, 1:00 am
Ms Reinhart is one of the most widely cited economists in the world
The pandemic could lead statisticians to change how they estimate GDP
30 May 2020, 1:00 am
Data gaps are rife, but statisticians may eventually understand better how the economy works
Will covid-19 halt the rise of private equity in Europe?
28 May 2020, 3:48 pm
PE firms are better prepared for a downturn, and seem to be more welcome
China’s economists debate deficit monetisation
28 May 2020, 3:48 pm
Inflation hawks seem to be prevailing—in theory, if not entirely in practice
What is the link between inflation and equity returns?
28 May 2020, 3:48 pm
Stocks are a decent inflation hedge in the long run, but over shorter horizons, there is an inverse relationship
The legacy of Alberto Alesina
28 May 2020, 1:00 am
He traced the links between culture, politics and fiscal policy
Covid-19 forced trading floors to close. They’ll be back
25 May 2020, 1:00 am
They are likely to last for as long as traders want them
Should the Fed cut rates below zero?
23 May 2020, 1:00 am
Negative rates are not a cure for what ails the global economy
Tracking the economic recovery
23 May 2020, 1:00 am
Though some lockdowns are being lifted, economies are not roaring back
A memo to candidates for the WTO’s next boss
23 May 2020, 1:00 am
What Roberto Azevêdo’s prospective successor should expect
Why interest rates are so high in Africa
21 May 2020, 3:53 pm
Banks generate high returns, but have steep costs
Sovereign-wealth funds face lean years
21 May 2020, 3:53 pm
Revenues have fallen, and governments are eyeing their riches
Why you need to read Jane Austen to appreciate perpetual bonds
21 May 2020, 3:53 pm
It takes a nineteenth-century perspective to see the merit of consols
How to fight an economic crisis in a monetary union
16 May 2020, 1:00 am
Philip Lane, the ECB’s chief economist, lays out his framework
Why the pandemic could eventually lower inequality
16 May 2020, 1:00 am
History suggests it could precipitate shifts towards a more equal income distribution
Award
14 May 2020, 3:47 pm
Turkey’s defence of the lira has been unwise and ineffective
14 May 2020, 3:47 pm
The country is trying to strengthen its currency—at the expense of weaker banks
America files a new financial salvo at Beijing
14 May 2020, 1:00 am
The White House seeks to stop a government pension fund investing in China
Could travel bubbles offer a route to economic recovery?
14 May 2020, 1:00 am
The economic gains would be large, but the health requirements could be vexing
In bleak times for banks, India's digital-payments system wins praise
9 May 2020, 1:00 am
Digital loans could be next
Could the pandemic give America’s labour movement a boost?
9 May 2020, 1:00 am
Gig workers are organising, in tech-savvy ways
Emerging markets launch QE, too
7 May 2020, 3:55 pm
Unconventional monetary policy is not just for the rich world
With oil prices depressed, China presides over a buyer’s market
7 May 2020, 3:55 pm
Oil and gas suppliers are toiling to secure Chinese demand
Losses by central banks are nothing to fear
7 May 2020, 3:55 pm
They do not reflect financial doom. But they expose the fragility of independence
Credit-rating agencies are back under the spotlight
7 May 2020, 3:55 pm
This time is different from the financial crisis—sort of
A perky stockmarket v a glum economy
7 May 2020, 1:00 am
Explaining the stockmarket rally
For microfinance lenders, covid-19 is an existential threat
5 May 2020, 1:00 am
Yet, in the post-pandemic world, the world’s poor will need them more than ever
In many ways, stockmarkets have been extraordinary in 2020
3 May 2020, 1:00 am
How this year’s crash differs from bear markets of the past
America’s cities and states face a cash crunch
2 May 2020, 1:00 am
Help from the federal government and the Federal Reserve may be on the way
Politicians in America and Europe scramble to help small firms
2 May 2020, 1:00 am
But their schemes are meeting with mixed success
America’s large firms can count on generous government support
2 May 2020, 1:00 am
But there are strings attached
Why the unemployed in America could face a lost decade
2 May 2020, 1:00 am
Even under the rosiest of assumptions, a labour-market crisis is looming
How to detect business fraud
30 April 2020, 3:53 pm
Carson Block, a short-seller, on uncovering false accounting
Melissa Dell wins the John Bates Clark medal
30 April 2020, 3:53 pm
Her work on conflict and coercion has changed how economists think about development
Why the euro is more durable than it looks
25 April 2020, 1:00 am
The commitments of a shared currency are not so easily shaken off
How risk-parity investment strategies unravelled
25 April 2020, 1:00 am
The value of portfolios plunged when bond and stock prices began to move in tandem
Hedge funds hope the slump will make them relevant again
25 April 2020, 1:00 am
Seismic shifts in capital allocation have contributed to a rotten decade
Oil markets have a timing problem
25 April 2020, 1:00 am
As crude inventories rise, so does the pressure on the market
How to think about moral hazard during a pandemic
25 April 2020, 1:00 am
Economists are rightly relaxed about the risks for now
China aims to launch the world’s first official digital currency
23 April 2020, 3:49 pm
Little by little, the central bank will acquire more power to track how money is used
Wall Street prepares for a wave of loan losses
18 April 2020, 1:00 am
Banks’ first-quarter earnings reveal how customers are coping with the pandemic
The case for emerging-market stocks
18 April 2020, 1:00 am
The ideal diversifier is something that contrasts with what you own
Covid-19 could lead to the return of inflation—eventually
18 April 2020, 1:00 am
Once the virus is truly beaten, the crisis could weaken structural forces weighing on demand
How deep will downturns in rich countries be?
16 April 2020, 1:00 am
Those in central and southern Europe seem most vulnerable
Why has China’s stimulus been so stingy?
16 April 2020, 1:00 am
The lingering threat of covid-19 forestalls a bigger stimulus
The dollar’s dominance masks China’s rise in finance
16 April 2020, 1:00 am
The pandemic is a fillip for China’s currency and fintech firms
A historic OPEC+ deal to curb oil output faces many obstacles
13 April 2020, 1:00 am
It marks a ceasefire in the price war, not a lasting truce
Many economists defend disaster profiteers. They are wrong
11 April 2020, 1:00 am
With price gouging, morality trumps economics
Should the IMF dole out more special drawing rights?
11 April 2020, 1:00 am
Some economists are calling for an increase, but there are hurdles in the way
Why a lot of startups will come to regret their unicorn status
8 April 2020, 3:48 pm
After many funding rounds, they could be sitting under a mountain of debt-like claims
Joe Stiglitz and the IMF have warmed to each other
8 April 2020, 3:48 pm
The fund seems to have won over its most fearsome critic
Labour markets take a dramatic turn for the worse
8 April 2020, 3:48 pm
America’s unemployment rate could rise to 15% this year
How sick might banks get?
8 April 2020, 1:00 am
They have entered this crisis in better health than the previous one
Emerging-market lockdowns match rich-world ones. The handouts do not
4 April 2020, 1:00 am
Few emerging-economy governments can afford a generous fiscal response
Economists’ forecasts for GDP growth in 2020 vary widely
4 April 2020, 1:00 am
But all expect a dreadful year
The departing boss of Norway’s oil fund on building an asset manager
4 April 2020, 1:00 am
Norges Bank Investment Management is the world’s single largest owner of equities
What missed rent and mortgage payments mean for the financial system
4 April 2020, 12:00 am
April 1st was payday—and the day that big bills were due
How Allianz is dealing with market turmoil
4 April 2020, 12:00 am
Europe’s largest insurer is exposed through its life-insurance and its asset-management arms
What China’s interest-rate muddle says about its financial system
2 April 2020, 3:49 pm
Ask a Chinese economist what the benchmark rate is, and brace yourself for an avalanche of numbers
Bills due on April 1st add to the financial strains of covid-19
31 March 2020, 1:00 am
As Americans lose their jobs and incomes, the government helps with rent and mortgage payments
The ECB breaks its self-imposed rules
26 March 2020, 12:00 am
But will its latest salvo alone ensure a healthy expansion?
If you thought the trade war was bad for global commerce...
26 March 2020, 12:00 am
The disruption from the pandemic will be much worse
America’s central bank is not the only one doling out greenbacks
26 March 2020, 12:00 am
Central banks in emerging markets are conducting auctions
America’s mortgage market sickens
26 March 2020, 12:00 am
An imaginative template for dealing with the cash crunch
26 March 2020, 12:00 am
The world of distressed lending offers a guide
Saudi Arabia floods the oil market; America tries to prop up prices
26 March 2020, 12:00 am
But for supply to match demand, they may have to fall even further
How to pay for the pandemic
25 March 2020, 12:00 am
Covid-19 could usher in a new era of sovereign-debt management
The dollar is in high demand, prone to dangerous appreciation
21 March 2020, 12:00 am
The Fed does not want to be the world’s central bank
Why America’s financial plumbing has seized up
21 March 2020, 12:00 am
Central-bank action is failing to stem the rout
The agonies of stock-picking in a falling market
21 March 2020, 12:00 am
A fictional fund manager in his pyjamas ponders capitulation
Exchange-traded fundamentals
21 March 2020, 12:00 am
The funds show signs of strain but not panic
Venues may close. Trading should remain open
21 March 2020, 12:00 am
Amid a scramble for cash, the world needs capital markets
Economies can rebound quickly from massive GDP slumps—but not always
19 March 2020, 12:00 am
History suggests full recovery takes, on average, about five years
The Federal Reserve acts again, as market turmoil continues
16 March 2020, 12:00 am
Other central banks follow up with emergency measures
Entering a bear market
14 March 2020, 12:00 am
No one is likely to win the oil-price war
12 March 2020, 4:15 pm
Saudi Arabia, Russia and America will all suffer
The challenge of addressing covid-19’s economic effects in Europe
12 March 2020, 4:15 pm
A swift response depends not only on national governments
Throughout history, pandemics have had profound economic effects
12 March 2020, 4:15 pm
Long-run economic effects are not always dreadful
Yes Bank’s rescue deepens worries about Indian finance
12 March 2020, 4:15 pm
It is the second bank scare in six months. Who is in charge?
Corporate bonds and loans are at the centre of a new financial scare
12 March 2020, 12:00 am
The pool of corporate lending has risen to $74trn
A spike in the dollar has been a reliable signal of global panic
12 March 2020, 12:00 am
Are we due one?
New trade barriers could hamper the supply of masks and medicines
11 March 2020, 12:00 am
Common-sense curbs to deal with covid-19? They may be costly
How market panic can feed back to the world economy
9 March 2020, 12:00 am
In short: via tighter credit for companies already at risk
Saudi-Russian price war sends oil and stockmarkets crashing
9 March 2020, 12:00 am
A collapse in the oil price spooks investors already nervous about covid-19
A novel pandemic security is no match for a novel virus
7 March 2020, 12:00 am
Catastrophe finance is a work in progress
Commodity economies face their own reckoning due to covid-19
5 March 2020, 3:55 pm
As prices fall, pressure for more health-care spending will rise
Share prices fall hard in recessions. It is tricky to take advantage
5 March 2020, 3:55 pm
Seeing through a falling stockmarket
A recession is unlikely but not impossible
5 March 2020, 3:55 pm
Covid-19 infects the world economy
Electronic platforms are challenging bond broker-dealers
5 March 2020, 3:55 pm
Their success is key to providing liquidity in stressed markets
What the markets imply about the economic impact of the coronavirus
5 March 2020, 12:00 am
Investors should get used to the rollercoaster
