The market has celebrated deliverance from the China tariff crisis -- but is it really over?

Markets are finally anticipating no Fed pauses this year -- but that may not be the end of the hiking cycle.

The oil spike has a strong inflationary component -- yet it may make the Fed less vigilant.

If we've seen the best cast of the bubbleists, there's little to fear.

The risk from record oil prices is less than meets the eye -- or, at least, different.

Katrina could trigger important revaluations in stocks, bonds, and oil.

Expectations that the Gulf Coast disaster will deter the Fed are all wet.

The post-Katrina risks to markets are mostly political, not economic.

Bonds are captured by "money illusion" -- but the Fed is unlikely to play along.

Pro-growth policy is still on track, despite post-Katrina economic and spending shocks.