The mean equity risk premium will shift lower -- which means that stocks are still cheap.
Donald L. Luskin
Japan Breaks Out -- Does It Matter?
Tuesday, November 19, 2013
Abe had the guts to back off from carbon targets -- but so far it's his only profile in courage.
So Welcome to the Yellen Years
Friday, November 15, 2013
Rigid, dogmatic, nervous, poorly prepped -- and willing to deny the facts to defend policy.
On the October Jobs Report
Friday, November 8, 2013
Another upside surprise, in a world that is suddenly less risky and more growth-friendly.
On the November ECB Policy Decision
Thursday, November 7, 2013
With QE ruled out, the ECB has pretty much fired all its bullets. The euro area is on its own.
On Q3 GDP
Wednesday, November 6, 2013
Big upside surprise, small downpayment on the output gap. Therein lies the opportunity.
On the Elections in New Jersey, Virginia and Alabama
Wednesday, November 6, 2013
We told you -- post-shutdown, the GOP can hold the House and make gains in the Senate.
On the October FOMC
Wednesday, October 30, 2013
An increasingly Yellen-dominated FOMC takes a victory lap. Why aren't markets happier?
Inflation in Fashion
Tuesday, October 29, 2013
A less risky economy, Yellen, and the politics of her confirmation put inflation back in play.
Europe's Ghosts of Stress Tests Past
Tuesday, October 22, 2013
A risk-off spasm over ECB bank tests ignores the euro area's quantum turnaround.