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My view on what's going on in the financial markets and the global economy, and a few other things that might interest me from time to time.

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Week ended June 20, 2025: Fed sits tight
None of the three major central banks that had monetary policy meetings this week – including the Fed, the BoE and the BoJ – changed their monetary policy approach, although central banks in Switzerland, Sweden and Norway all eased. Markets remain slightly on edge because of the growing Middle East conflict.

tim@emorningcoffee.com
Jun 207 min read
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Week ended June 13, 2025: inflation moderates, jobs remain solid
Inflation appears to be moderating, and the US jobs market remains resilient although perhaps showing some cracks. Mr Trump used the inflation data as a reason to justify "demanding that" the Fed slash the Fed Fund rate by 100bps. Trade policy continues to zigzag, with investors starting to mostly ignore the rhetoric coming from the administration. Stocks and bonds were better through Thursday, with gold higher and the greenback weaker. The Israeli bombing of Iran overnig

tim@emorningcoffee.com
Jun 135 min read
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Week ended May 9, 2025: Trump says "buy stocks" (again)
Markets continued to stabilise this week, at least as far as risk assets including global equities and BTC. Other assets moved sideways.

tim@emorningcoffee.com
May 86 min read
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Week ended March 21, 2025: US stocks eke out gains
Most focus this week was on the FOMC decision, which was initially viewed as slightly dovish before reality sat in. Markets were mixed.

tim@emorningcoffee.com
Mar 225 min read
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Week ended Jan 31, 2025: earnings and central bank decisions dominate
The week started and ended poorly for US stocks, delivering losses for the week. European stocks have been the best performers YtD.

tim@emorningcoffee.com
Feb 15 min read
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Week ended Dec 20, 2024: FOMC projections send markets lower
Confident that another stellar year for U.S. stocks was coming to a close, investors were jolted from their complacency when the Federal...

tim@emorningcoffee.com
Dec 21, 20245 min read
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Week ended Dec 13, 2024: markets slightly weaker
Bond yields ticked up after an in-line Nov CPI report, reminding investors the inflation battle is not over. Stocks were weaker.,

tim@emorningcoffee.com
Dec 14, 20246 min read
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Midweek update: Apple, CPI/FOMC, GME
We have some US data coming that might matter today (CPI), but the FOMC will sit tight (also today). Discusses Apple's run and GameStop.

tim@emorningcoffee.com
Jun 12, 20247 min read
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BIPs, RIPs and CHIPs
Get ready for the next FOMC meeting and a market rip following the debt ceiling agreement. Want to better understand semiconductors?

tim@emorningcoffee.com
May 30, 20233 min read
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