After our last newsletter 2 weeks ago financial markets continued to rally. Major equity indices marked new record highs. Volatility dived to record lows.   There are fundamental reasons behind diminished volatility such as still-ultra-low interest rates at a time of solid economic growth. However, a study by equity-derivatives analysts at Deutsche Bank AG found […]

Equity markets have gained as much as 5% versus our newsletter two weeks ago, interest rates are nearly unchanged while gold and crude oil went down.   The biggest gain has come from Europe this time – celebrating the results of the first round of French presidential elections. Centrist Emmanuel Macron and far-right leader Marine […]