A wider perspective.

Ideas and analysis on money, markets and the world around us.

Market Report: Bond rout undermines PMs

Gold and silver prices moved lower this week, while bond yields around the world rose sharply. There can be little doubt now that the bond bubble is deflating, inflicting enormous strains on portfolios, banks and even…

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The serfs have rebelled – Europe next?

Hayek’s The Road to Serfdom described how personal freedoms are progressively eroded by the state in the name of the common good. His warning is more associated with totalitarianism and dictatorships, than modern…

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Market Report: Trumped!

This week saw the surprise nomination of Donald Trump as President-elect in the early hours of Wednesday morning. So far as markets were concerned, Wednesday’s trading was a repeat of Brexit: spike in bond yields;…

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Macroeconomic realities trump Trump fear

Macroeconomic realities trump Trump fear Introduction The outcome of the 2016 US presidential election has sent shockwaves through global financial markets. Gold largely reversed its 4% overnight rally and is now back…

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Perilous government finances

President-elect Trump stated in his victory speech that he intends to make America great again by infrastructure spending. Unfortunately, he is unlikely to have the room for manoeuvre to achieve this ambition as well as…

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Market Report: Technical rally holds

It has been a better week for gold and silver, with gold rising from $1284 to $1302 by Friday mid-morning London time, and silver from $17.76 to $18.34. Gold in particularly found its support at the 200-day moving…

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