Industry transformation under way to broaden access to the asset class to mainstream of wealth portfolios
Ramifications include lower growth potential, tighter labour markets and heightened inflationary pressures
The region risks marginalisation in the emerging new digital financial ecosystem
There are multiple vulnerabilities and faultlines that could be ruthlessly unpicked
Political choices should be debated democratically, not hidden in technocratic agendas of ‘financing gaps’
America must rebuild the infrastructure that underpins markets and thus supply chains
April’s drawdown may have felt like déjà vu, but V-shaped reversals are not coming thick and fast
Sale of Monte dei Paschi di Siena shares shows European governments are keen to retain control of key assets
Conflict could be the catalyst for higher prices in the coming years as global production peaks and demand stays strong
Appreciation would suit Beijing’s global ambitions for the currency
The region is very different from Silicon Valley but there is a growing ecosystem of durable companies
History warns that the greenback may one day be superseded as the global trade currency
If weakness emerges in American assets, it will show up more in the dollar, not stocks.
Stock market resilience simply reflects the fact that new share issuance remains very subdued
The effects of anything short of a major disruption in Middle Eastern output are likely to be contained
This latest instability is stagflationary and may add to the erosion of the US-led economic order
While governance problems and linkages to weak mainland economy persist, its financial sector has benefited from US-China tensions
The 2020s may be on their way to becoming the progeny of the combined 1980s and 1990s disinflationary bull markets
Investors are likely to seek a higher risk premium for British assets
Politicians are steering Main Street money into private assets but they may be better off fostering enterprise
Foreigners have recently been the only major buyers of the country’s longer-term government debt
Despite past criticism by Scott Bessent and Stephen Miran, the debt strategy persists and is spreading internationally
Central bank needs to mix playing defence with going on the offensive with a new policy framework and improved communication
New standard threatens a vital funding source for sovereigns and corporates across the Middle East, Asia and beyond
Asset-backed digital currencies should not be regulated or regarded as the same as central bank money
