An Ugly September, Again?
Investors are preparing for more market volatility in the coming weeks even if equities hoover near fresh highs after seven months of straight gains.

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Good News Is Bad News
The new normal in the stock and bond markets makes it more difficult for investors to build diversified portfolios.
Investors Dump Banking Stocks
On Thursday, the four largest US banks by assets, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, saw $52.4bn wiped off their market value.
Sovereign Pivot
The conventional framing of global economic power tends to focus on trade balances and manufacturing output. This perspective misses a more consequential asymmetry.
Structural Divergence in Global Creditor Nations
A significant shift occurred in global capital markets: Germany surpassed Japan as the world’s largest net creditor nation.