Politics on the beach
Japan – beyond the carry trade
Japan’s yen has weakened sharply, reviving concerns over carry-trade unwinding and global market volatility. Yet Japan’s stronger growth, rising wages, higher inflation, corporate reforms, and improving shareholder focus suggest a structural economic revival, though sustained pro
Geopolitical risk, economic resilience
Markets continue to be shaped by a range of macroeconomic, geopolitical, and policy developments.
Hot headlines, cool markets
Markets have weathered another wave of geopolitical uncertainty with surprising resilience.
Chips: Moore spending
Middle East hostilities are intensifying; not one, but two maritime chokepoints are supposedly closed, and Brent crude has hit the psychologically threatening $100/bbl level once again.
Judgement calls
As the FIFA World Cup 2026 draws to a close, the focus may be on the finalists, but some of the most valuable lessons extend well beyond the pitch.
The economics of wanderlust
Travel in 2026 reflects a shifting economy: despite geopolitical tensions and high costs, demand remains resilient—driven less by growth than by the sector’s ability to adapt.