If global markets are unsettled, they have good reason to be so

Last week’s upheavals in bond values were an all-too-rational response to a cocktail of economic troublesEvery year the Federal Reserve Bank of Kansas City hosts a symposium in the Grand Teton resort of Jackson Hole. Some years, guests have little to d…

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Spend, spend, spend: spirit of Viv Nicholson lives on among shoppers | Larry Elliott

Consumers are not fretting about Brexit but you can understand why retailers are uneasy over 31 OctoberViv Nicholson, those with long enough memories may recall, won what was then a small fortune on the football pools in 1961. Asked what she was going …

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Inverted curve proves White House has won its battle with the Fed

WeWork may have left it a tad late for its IPO unless the central bank makes a swift and decisive cutWeWork, the loss-making US office rental company, is planning a stock market launch next month to fund its global expansion. All the signs on Wall Stre…

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Could devaluation of China’s yuan trigger the next financial crisis? | Larry Elliott

Anyone looking around for bad economic news in this ‘silly season’ is spoilt for choiceEvery now and then, August belies its reputation as a sleepy month when nothing happens and throws up an event that shakes financial markets.The Latin American debt …

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Globalisation as we know it will not survive Trump. And that’s a good thing | Larry Elliott

The markets are spooked, but we need a new world order which makes room for local solutions and the nation stateThe significance of the trade war between China and the US goes well beyond the impact of tit-for-tat tariffs, or which of two self-styled s…

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Boris Johnson takes note of Trump’s game theory to keep EU guessing on Brexit | Larry Elliott

New PM has changed UK tactics of chicken while US and China battle to see who blinks firstTwo cars are hurtling towards each other down a narrow country lane. Both have the option to pull over but neither driver wants to give way first. What happens ne…

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The Fed comes up with an interest rate cut that will please nobody | Larry Elliott

Donald Trump has been pushing for it, but the real problem lies with the man in charge – Jerome PowellDonald Trump got less than he wanted. Wall Street was unimpressed. Both the White House and the financial markets see the first cut in US interest rat…

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Why Trump prefers Mario Draghi over Jerome Powell

As the US president at last gets his interest rate cut he must wish he could have had the bold ECB boss at the FedCentral bankers rarely say anything that sticks in the memory. Mark Carney has been at the Bank of England for the past six years and is k…

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Boris Johnson, tough on the economic causes of Brexit? Not likely | Larry Elliott

His cabinet is stuffed with Thatcherite true believers who will hardly be inclined to undertake a vital reboot of the economySo farewell then, Project Fear. Out go the predictions of imminent economic catastrophe, in comes Mr Brightside and his vision …

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