I have returned recently from a lovely Christmas holiday in the USA. Indeed, I'm happy to report that despite America's political turmoil and divisiveness, families can still celebrate together (with minor exceptions)!! Regarding the US financial market outlook, I was struck by the universal sense of optimism. The consensus is the bull market will widen [...]
Tag: Europe
Europe: Reform Now or Be Left Behind!
21 March 2025 The world Europe confronts is changing rapidly. On the hand, the United States is becoming widely viewed as an indispensible, but unreliable ally. Equally importantly, the global economy appears to be entering an era of rapid technological change for which Europe is not fully prepared. To be sure, the region enjoys an [...]
France: Plus Ca Change?
2 March 2025 "Plus ca change" is a French adage loosely meaning "the more things change, the more they stay the same". To be sure, France enjoys an enviable socio-economic model: producing high levels of productivity and living standards combined with a strong commitment to equity and sustainability. Indeed, I have just returned from an [...]
Strategy 2025: Pivoting from Trump 2.0 Trades?
12 December 2024 In my Strategy 2024 blog entitled "Powell Pivot: What Could Go Wrong or Right?", I suggested global financial markets had entered a cyclical sweet spot. Specifically, the combination of steady (if uneven) global growth, declining inflation, and easing monetary conditions pointed to higher equity market valuations. Indeed, even my bullish S&P 500 [...]