Dumb and dumber

By Jeffrey Halley   Readers should stop watching US stock markets for economic wisdom, as the price action overnight confirmed that part of the financial world has as little future insight as anywhere

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Markets bet Fed has it wrong again

By Jeffrey Halley   The second day of Jerome Powell’s semi-annual testimony on Capitol Hill passed without incident, in contrast to Wednesday’s frenzy. The Fed Chair reiterated an unconditional commitment to fight inflation,

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Powell uses the ‘R-word’

By Jeffrey Halley   Federal Reserve Chairman Jerome Powell’s semi-annual testimony on Capitol Hill was the centre of attention overnight. Speaking to Congress on Wednesday, Powell finally dispensed with soft landings, describing them

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Don’t get too excited by bear rallies

By Craig Erlam European stock markets are falling heavily again on Wednesday, reminding us once more why we shouldn’t get excited by the bear-market rallies. There’s a desperation to add substance to

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Gone in 60 seconds

By Jeffrey Halley   ‘Gone in 60 Seconds’ was a 2000 movie with Nicholas Cage stealing 50 high-end cars in three days. It is actually a remake of my favourite 1974 version, where

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Steady start to the week

By Craig Erlam European stocks are making steady gains on Monday, recovering a small portion of last week’s heavy losses as economic concerns mounted. There’s been a shift in the market mindset

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More and more of the ‘R’ word

By Jeffrey Halley   The “R” word is being used more and more as recessionary winds start blowing loudly through economic data and the price actions across the asset class spectrum. On Friday,

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The bears come out to play

By Jeffrey Halley  Things didn’t improve from overnight in New York, as the market scrambled to price in a 0.75% by the FOMC, whose two-day meeting starts Tuesday. Among the biggest casualties

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