BY FERNANDO DE FRUTOS, CFA, PhD  |  17 JANUARY 2023   The last three years have been completely abnormal. Today’s inflation is a byproduct of the pandemic, just as high interest rates are. The disappointing returns last year, like the exceptional two years prior, must also be seen in the same context. Sooner or later … Continued

BY FERNANDO DE FRUTOS, CFA, PhD  |  30 AUGUST 2022 Powell’s long-awaited speech at the Jackson Hole symposium followed the expected script. In the intricate dance between central banks and financial markets, no news is, in a sense, news Equity markets responded to the Fed’s renewed inflation-fighting resolve with a big sell-off. Such a reaction … Continued