IMF

Stock Prices Have An Alibi

August 12th, 2016|by Michael Ashley Schulman, Perspectives, The Big Picture|

Unicorn AlibiSummary:

  • High and low markets provide similar anxieties
  • European banks remain a source of Bear Stearns type risk
  • LIBOR rates are rising even as central banks keep their own rates low
  • Nonetheless, earnings determine asset […]

Financial Markets Pulled in a Tug of War

February 4th, 2016|by Michael Ashley Schulman, Perspectives, The Big Picture|

Tug of war rectangle

Financial markets in 2015 were pulled between the Fed’s determination to raise rates as the U.S. job market strengthened and pressure for lower rates in the rest of the world as China’s economic growth slowed and commodity […]