David Glasner in a recent blog post referred to a paper he wrote in January 2011 on The Fisher Effect Under Deflationary Expectations. The paper is well worth reading for anyone interested in the interplay between monetary policy, asset prices and the recent financial...

The oasis of calm that investors have become addicted to since the advent of quantitative easing has been rudely interrupted. Between July 20th and August 25th, the S&P Composite fell by more than 12% , triggered by the drop in the Shanghai stock exchange of nearly...

The Reserve Bank of India cut the policy repo rate by another 0.25% on June 2 to 7.25%. The market reaction sent the SENSEX index of Indian equities down by 660 points - nearly two and a half per cent. Bank governor Raghuram Rajan commented that he remained concerned...

The variability of emerging market performance implies that asset allocation be best approached from a country perspective. An analysis of the ex post Wicksellian Differentials and ex ante signals of BRIC countries highlights continuing diverging trends with the...

The rate of profit growth appears to have stalled in the United States resulting in declining equity valuations. However, the extent of the cumulative credit process in this credit cycle implies a much lower level of asset correlation than in previous cycles. The...

The cumulative Wicksellian process that has been developing since 2009 has led to an increase in demand for more timely credit cycle signals. As a result Credit Capital Advisory has now launched its ex ante signals which update on a quarterly basis, a month before...