Markets Adapt to Your Style

Published on August 28, 2024

My colleague Will Keenan recommended an outstanding book, The Professor, the Banker, and the Suicide King, by Michael Craig. The book is a short and entertaining read of how Andy Beal played the best poker players in the world heads-up. He not only gambled toe-to-toe, but he also reminded them that they were doing what everyone should think poker is: gambling.

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Gradually, then Suddenly: Financing the Nation’s Growing Debt

August 28, 2024
Elevated budget deficits imply growing US Treasury issuance. Receding demand from central banks could leave more price-sensitive buyers to pick up the slack. Who are the buyers of US government debt, and how is the market responding? In part two of our series, let’s examine Treasury market supply and demand.

Why are fund managers including commodities in ESG portfolios?

August 28, 2024
The days of equating ESG with the blacklisting of commodities are over, it seems.In a fresh study, analysts at Goldman Sachs Group Inc. have found that fund managers are increasingly including oil, gas and mining stocks in portfolios that are registered as ESG. The development coincides with a regulatory rethink of how to frame environmental, social and governance strategies, opening the door for