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Tug of War in Global Equities Amid Cross-Cutting Pressures
Since the beginning of October (quarter-to-date), we have seen cross-cutting pressures result in both upswings and downswings across global bonds and equities. As the first table below illustrates, we saw both equities and bonds across the curve rally in October…
Stablecoin Infrastructure with Heath Tarbert
Stablecoins Bring the Promise of Better Payments and the Risks of Financial Leverage
For widespread adoption, two things must happen: merchants must accept stablecoins, and consumers must be willing to hold them. On the merchant side, the value proposition is obvious. Credit card transactions are costly, with each swipe carrying 2 to 3…
Private Credit Evolution with Huw Van Steenis
US H-1B Tax Could Help Competing Nations Grab More Talent
If businesses aren’t willing or able to pay the additional fees to bring skilled workers to the U.S., then those candidates may look for opportunities elsewhere. Considering the vital role high-skilled immigrants play in driving innovation, if other countries can…
Rearming Europe with Davide Serra
Fed Needs to Inject Caution Into Market’s Rate Outlook
With downside risks to employment judged to have risen, the Federal Open Market Committee’s goal now is to offset labor market weakness. Futures markets are pricing in a quarter-point cut for the Oct. 28-29 meeting and in December, and two…
Intangible Valuation with Paul Adams
Bitcoin’s Rally Isn’t About Dollar Debasement Fears
After decades of serving as global reserve currencies, investors may be positioning themselves against fiat currencies and the risk of excessive government borrowing and money creation, or political interference with central bank independence. Some see bitcoin, like gold, as a…
Global Rewire Newsletter – Issue II
Here are three areas where regime shifts have surfaced in the Institute’s work: Economic Fragmentation: The long-standing, market-based rules of trade and comparative advantage are changing as the U.S. puts national interests above its strategic relations with Western democracies. One framework…