The Federal Reserve is in the early stages of reducing its balance sheet, or quantitative tightening ("QT").

BTC and its brethren have bounced back from early July lows, but is this edition of a crypto winter over? I take a look in this article.

2022 has been an abysmal year for most indices and asset classes globally, with the exceptions being oil, gold and the FTSE 100. Now what?

FOREX is in the news, especially as many think the USD has reached its peak and is at an inflection point. What drives FOREX? Read on.

The decade 2010-20 involved a very hands-on approach by the Fed to steer the US economy out of a deep recession. What lessons can be learnt

It is fashionable to espouse the end of the US dollar as the leading global reserve currency, but this will not occur anytime soon.

With oil approaching $100/bbl, it is hard to imagine that demand and supply were so out of line in April 2020 that oil prices went negative!

This is a primer on corporate bonds, investment grade & high yield. It also discusses the pandemic and its effect on the corp bond market.

Given the poor performance of equities so far this year, I wanted to take a quick high level look at valuations of a number of stocks...

I have written about the ARK Invest family of actively-managed ETFs in the past in E-MorningCoffee. You will find this update interesting.

Don't look to fundamentals to explain equity prices today – look to attitudes embedded in acronyms. And don't forget the super-easy Fed!

This article looks at recent performance of and valuation metrics of the FAMAG stocks and four others: SHOP, NVDA, TSLA and NFLX.

The bond market looks to be doing the Fed's dirty work, sending short term yields to post-pandemic highs. Is the Fed being too methodical?

I continue to believe that inflation will be transitory, but supply-push inflation will cause inflation to be higher longer.

Mr Trump was just where he wanted to be – the centre of attention at the #WEF in #Davos. Fortunately for investors, he climbed down from his "gotta have Greenland" position to reach some sort of undisclosed "deal" with the Europeans. Concurrently, JGB yields spiked with investors spoked by the budget outlook in Japan. Ultimately, US and European stocks ended the week lower, as Asian and emerging stocks drove gains. Gold continues to power ahead.

Most U.S. stock indices were weaker WoW, except for the small/mid cap Russell 2000 which has strung together some amazing gains YtD (+7.9%). Other global equity indices were generally positive. USTs lost ground, and both gold and Bitcoin pushed higher. This all happened in a backdrop in which the U.S. president introduced a series of populist and interventionist proposals that are drifting wider and wider from Republican principals.

There were more ideas coming from Mr Trump last week than seemed possible, a reflection of desperation as the affordability crisis continues to weigh on his administration and the approaching mid-term elections. Some ideas were simply ridiculous, but investors are used to it by now. This was reflected as risk markets remained solid, with several U.S. and foreign stock markets closing Friday at record highs.

The last two weeks were rather uneventful, so this is a quick summary of price performance in 2025, and a look ahead to 2026. Are we in a bubble and don't know it?