Pretty credible theories that much of US tech boom was being funded by Japan carry trade. Yen was crashing, bank of Japan tried intervening directly in currency markets but has now raised rates twice… (View Post)

On topic. Small caps have been underperforming for some time. The indices have only been held up by Mag7 which has masked how poor things really are under the hood. On Biden: federal debt has grown m… (View Post)

Russia would be well aware of this before it hits the Daily Mirror. Our strategic defence is in a very sorry state to be sure but it’s barely featured in the political conversation. (View Post)

A rather puzzling take. He chose to make his speech overtly political, in a way that is unlikely to calm tensions. And which over the medium term, may well undermine his own position. (View Post)

Just watched Starmer’s speech from this afternoon. An odd statement. The law and order aspect in terms of wanting to restore order was on point. But he then completely undid that with a frankly incre… (View Post)