BoE ramps up preparations for normalizing long-term repos (POLITICO)
By Geoffrey Smith, July 22 The Bank of England is raising the pressure on banks to get ready for the moment when things start to get tough. Banks should ensure that they are ready to borrow at scale through the BoE’s various facilities before its steady withdrawal of excess liquidity starts to create volatility in […]
In the Blind Spot (The productivity paradox lives on)
SNEAK PEEK — Lessons from James Goldsmith on what’s really ailing Western productivity. — Make being a housewife great again — not least because it will help improve corporate productivity, argues Izzy. — Bangladesh is being destabilised by students scrambling over 3,000 precious government jobs. Dario has more. Good morning subscribers! There’s no better […]
Techies, meet J.D. Vance (POLITICO)
By Mallory Culhane, with help from John Hendel, Steven Overly and Brendan Bordelon TECHIES, MEET J.D. VANCE — The official Republican candidate for vice president was elected to the Senate in 2022 with a $10 million infusion from PayPal founder and tech billionaire Peter Thiel. But his relationship with Thiel and the broader tech world […]
In the Blind Spot (The slow shift to technopaternalism)
SNEAK PEEK — What does FCA listing reform have to do with the new era of technopaternalism? — China expert George Magnus shares his thoughts on whether it’s wise to emulate the China model. — Somaliland’s quest for international recognition is compromised by its deteriorating security situation, Dario writes. Greetings subscribers, or should I […]
In the Blind Spot (‘Securonomics’, and the new UK security state)
SNEAK PEEK — Izzy takes a closer look at new Chancellor Rachel Reeves’ big economic idea of “securonomics” and what it really entails. — The US Supreme Court’s decision to grant immunity to the presidential office puts America’s constitution on course for an Augustus moment. — The prospect of peace talks between Turkey and […]
In the Blind Spot (They know we know they lie)
SNEAK PEEK — Izzy argues that economic reform of the Western economy won’t work without Glasnost. — Markets need to start thinking about how a power vacuum in both France and the United States could open the door to martial law. — Dario explains what’s been happening in Kenya this week, and how it […]
Meet Germany’s Lord of the Drones (POLITICO)
By Gian Volpicelli · Jun 20, 2024 Florian Seibel has seen the future of war — and it has robots in it. He now wants to convince Ukraine — and Europe — that they need to embrace autonomous weapons. A former helicopter pilot in the German army, 44-year-old Seibel is the chief executive of Quantum […]
In the Blind Spot (A Truss-style stitch-up for France?)
SNEAK PEEK — Why this week’s petrodollar 50th anniversary “fake news” saga demonstrates a major misunderstanding about what really empowers the dollar. — China is issuing ultra-long bonds at 2.53 percent, but is it a sign of strength or weakness? — We check in on Russell Napier’s prophetic warnings about why France, not […]
In the Blind Spot (A tale of two Chinas)
SNEAK PEEK — A tale of two Chinas. Izzy explores our growing inability to make sense of what’s really happening in China. — SocGen’s Albert Edwards thinks the recession everyone was expecting but never came, might finally have arrived. — Dario updates us on the latest with the Red Sea and Horn of Africa. Happy […]
Russian central bank gears up for more rate hikes as war economy overheats (POLITICO)
By Geoffrey Smith · Jun 7, 2024, 4:36 Vladimir Putin has been touting his economy’s resilience at his annual showpiece conference in St. Petersburg this week, but his own officials are telling a very different story. The Central Bank of Russia (CBR) issued its sternest warning yet on Friday that it may have to resort […]
