The Fed delivered a "hawkish hold." Remain tactically short U.S. equities and position for a stronger dollar. Meanwhile, the Bank of Japan laid out a radical overhaul: The new framework is consistent with price-level targeting and…

Without saying it, the BoJ introduced a price level target. While the announcement underwhelms in the details, its key implication is that the BoJ wrote a blank check to the government. Increased talk of cooperation between the…

Special Report

It is becoming increasingly likely that the U.K. will, after all, exit the EU. Feature The initial post-Brexit economic data have surprised to the upside as a result of the Bank of England's quick reflexes, the fall of the pound, and…

The median voter moving to the left has spurred paradigm shifts. These new regimes are giving way to transformational leaders who seek change by breaking convention. As they test their constraints and pursue their preferences, a…

Special Report

The median voter moving to the left has spurred paradigm shifts. These new regimes are giving way to transformational leaders who seek change by breaking convention. As they test their constraints and pursue their preferences, a…

The Fed is sending signals that another rate hike is coming, despite sluggish U.S. growth and modest inflation, while both the ECB and BoJ are facing questions about the ability to maintain the pace of bond purchase programs. Amidst…

Special Report

Cuba will become a notable frontier market now that the Communist regime has no foreign geopolitical partner to prop it up. A poor demographic profile does not prevent the country from capitalizing on American tourism. It also stands…

Hong Kong's growing political awareness and rising sensitivity to public policy underscores brewing social tensions brought about by decades of Laissez-Faire capitalism. Social policies will likely become progressively more…

The post-Brexit rebound has pushed stocks into overbought territory. U.S. equities, in particular, look increasingly priced for perfection. Higher U.S. rate expectations will push up the dollar, further curbing S&P 500 profit…