It’s economists versus the stock market. Economists generally don’t forecast a recession anytime soon. The stock market does — or at least that’s one plausible interpretation of its recent roller-coaster behaviour. Who’s right? We’ll know in a few months. Meanwhile, the dispute highlights the incomplete nature of the present recovery, which has lasted a long time but, to millions of …

The proposal to freeze oil output at January levels by Saudi Arabia, Russia, Venezuela and Qatar is a silver lining for the market and crude producers, as it signifies a genuine attempt to reverse sharp slide in oil prices that has pummeled economies, markets and companies. While the deal is preliminary, it’s the first significant cooperation between OPEC and non-OPEC …

For investors seeking reasons to worry about banks, here’s another: They’ve lent a lot of money in currencies that borrowers will have a hard time paying back. The phenomenon illustrates how capital flows work in a financially integrated world — and how they can contribute to booms and busts. As the U.S. Federal Reserve and the European Central Bank held …