`The Federal Reserve has an opportunity to test a hypothesis critical to the health of the US economy: Can persistently loose monetary policy boost the pace of productivity growth? Sadly, for now, an adherence to a strict Phillips curve framework for the economy and fear of financial instability will prevent the Fed from venturing down this path. Chair Janet Yellen …

Bloomberg European stocks joined a rally across most Asian equities following three days of losses, though trading volumes were once again depressed. Havens including gold, the yen and bonds retreated even as the likes of Bridgewater Associates’ Ray Dalio said he was reducing risk. The Stoxx Europe 600 Index rebounded from the lowest in more than a week as miners …

DUBAI / Reuters Saudi Arabia’s stock market rose on Tuesday on the back of gains by Al Rajhi Bank and mining firm Ma’aden, while Dubai also outperformed most Gulf bourses although trading was thin. The Saudi stock index climbed 0.4 percent with Al Rajhi up 2.2 percent to 65.80 riyals, bringing its gains over the last five days to 4.9 …