Recent Posts

Venezuela has some bad news and some really bad news

I think we can all agree that, absent a war or some deliberate strategy, a 14 percent drop in a country’s oil production in the space of one year is not a good thing. Even worse, though, is a 29 percent drop. These two realities, both undesirable, were presented for Venezuela in OPEC’s latest monthly report, out recently. The oil-exporters’ ...

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Forget about Bitcoin, cash is TSMC’s real future

If you’re hung up on the potential upside (or pitfalls) of Bitcoin mining for Taiwan Semiconductor Manufacturing Co., then you may be missing an even bigger story. Cash. Yup, good old cash. You remember the stuff; it’s used for tipping bellhops, filling red envelopes and shoving under mattresses. TSMC, which makes chips for Apple Inc. and for Bitcoin miners, is ...

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High 2018 yields don’t mean market turmoil

The performance of US Treasuries in 2017 confounded many, as the bonds kept to range-bound trading in the context of both higher growth and rate tightening by the Federal Reserve that went beyond initial market expectations. Therefore, it should come as no surprise that the recent move up in yields has triggered so many reactions, including warnings that we may ...

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