Return-Tinted Glasses

Return-Tinted Glasses

There is a global push for retail investors to be able to put their money into private assets, which cover investing in or lending money to (funds of) private companies or big infrastructure projects. The lure is, of course, the potential for higher and smoother...
Gold!

Gold!

Gold (gold) Always believe in your soul You’ve got the power to know You’re indestructible, always believing -Spandau Ballet (1983) I imagine that most central banks secretly dream about becoming a safe haven. Yes, it comes with a lot of responsibility, and you have...
Data Matters

Data Matters

In our business—measuring financial risk in all its glorious variations—data is so absolutely foundational that it does not occur to us to imagine a world without it. But if we were to entertain that thought experiment, a world without data would be like a mind...
Annoying Context

Annoying Context

One of the most annoying things about economic indicators is that they need context. A number does not make sense on its own. You also have to know where it is coming from, whose perspective you’re taking, and why. So, when we tell you that the yields on 30-year...
A Harbinger of Risk to Come

A Harbinger of Risk to Come

There is no doubt that international bank regulation is one of the most action-packed topics there is, easily beating out stamp collecting and certainly on par with crocheting toilet doilies. The grand institution of the trade is, of course, the Basel Committee on...