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Olduvai III: Catacylsm
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Bank of Canada Announces Balance Sheet Reduction, Suddenly Worried about “Moral Hazard”

Bank of Canada Announces Balance Sheet Reduction, Suddenly Worried about “Moral Hazard” “Once crisis tools have served their purpose, central banks should scale them back.” The Bank of Canada will unwind its crisis liquidity facilities, will further reduce its purchases of Government of Canada bonds, which it already started tapering in October, will let short-term […]

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Weekly Commentary: Anbang and China’s Mortgage Bubble

Weekly Commentary: Anbang and China’s Mortgage Bubble The Shanghai Composite traded as high as 3,587 intraday on Monday, January 29th, a more than two-year high. This followed the S&P500’s all-time closing high (2,873) on the previous Friday. On February 9th, the Shanghai Composite traded as low as 3,063, a 14.6% decline from trading highs just […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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