Ten Surprises of 2025: A Look Back
Let’s review ten surprises from three different categories.
To Be, or Not to Be
Hamlet’s soliloquy is an apt metaphor for November’s market volatility.
Vive La Bond Vigilantes!
Bond investors are the economy’s bond vigilantes. … So, if the fiscal and monetary authorities won’t regulate the economy, the bond investors will. The economy will be run by vigilantes in the credit markets. –Dr. Ed Yardeni, economist, 1983
Will DeepSeek Deep-Six Big Tech?
Today, the market is reacting to an AI development that presumes to deep-six (bury underground) the US technology sector and all those companies that benefit from riding the coat tails of their success. The reaction, of course, is emotional. So, what happened?
Ten Surprises for 2025
Welcome to my second annual article that addresses Ten Surprises for the coming year. Doesn’t everybody want to see over the horizon? Of course we do. But it is…