Most economists are tempted to rely on incremental analysis to explain the spread of negative interest rates and their implications for the global economy and markets. This is understandable, yet the inclination to focus primarily on marginal changes could be overly partial and even misleading — especially for market participants who must navigate the unintended consequences of sub-zero yields, including ...

Paris / AFP Security forces responded with tear gas on Thursday as French students protesting proposed labour reforms hurled bottles at riot police in Paris and the western city of Nantes. The reforms, which were significantly watered down under pressure from a wave of protests, were adopted earlier Thursday by the cabinet of an increasingly unpopular President Francois Hollande, who ...

Bloomberg Richard Dearlove, former head of Britain’s MI6 overseas spying operation, said the security cost of leaving the European Union “would be low,” explicitly rejecting Home Secretary Theresa May’s argument for staying in the bloc. Following Tuesday’s terrorist attacks in Brussels, whether EU membership enhances or harms the safety of British people has become the top issue in the debate ...