Choosing a topic for this week’s #MacroFriday wasn’t easy, as significant macroeconomic developments continue to unfold: the start of China’s Two Sessions, Germany’s "Whatever It Takes" moment and the historic jump in its 10-year yield, another ECB rate cut, and ongoing stock market volatility. In the end, I decided to focus on the implementation of trade tariffs and how this c ...

Market efficiency under pressure In recent weeks, someone pointed me to an interesting paper written late last year by Clifford Asness, managing principal at AQR Capital Management in Greenwich, CT. The paper, titled The Less-Efficient Market Hypothesis, is about twenty pages long, and I felt it was a must-read. The paper presents a compelling argument that, over the past thre ...

A common misconception is that the climate transition will drastically increase mining. While clean technologies do require critical raw materials, the comparison should not be with an imagined world without mining but with our current system: one that continuously extracts and burns enormous amounts of fossil fuels. Today, billions of tons of oil, gas, and coal are extracted ...

Shares of French company Saint-Gobain gained more than 8% over the past week after the German government announced the launch of a €500 billion infrastructure plan.   For Saint-Gobain, it all began in 1665 when the company started producing mirror glass. Today, it is a global player that designs, manufactures, and distributes high-quality materials such as flat glass, automot ...