I've written numerous times about the six Ds of the 21 st  century, in their three pairs: deglobalisation and de-dollarisation; decarbonisation and digitalisation; demographics and defence.  The last of these have come to the fore in Ukraine and Venezuela.  Mr Trump has opened the curtain on a new era of imperialism in the name of defence ("national security").    When Donald Trump said in his press conference after the seizure of Maduro that “the future will be determined by the ability to...

The regular macroeconomic data tell a tale of more of the same. US data shows upgraded Q2 GDP growth of 3.0% annualised, inflation of 2.7% unemployment of 4.2% and a cut in the Fed Funds 25 basis points to a range of 4.00% to 4.25%, since cut by a further 0.25%. Chinese GDP growth in Q2 was 5.2%; August inflation was -0.4%, August unemployment was 5.3% and the 1 year policy rate in September was 3.0%. In Japan, GDP growth for Q2 has been revised up to 2.2%; inflation was a 2.7% in August,...

De-dollarisation and inflation hedging strategies can include ships Russia relies on Indian and Chinese buyers of its oil to fund its war...