Precious Metals Are Not One Trade: The Outlook for Gold, Silver and Platinum
Gold, silver and platinum share a rally, but not the same drivers. Here is what rates, industrial substitution and supply deficits mean for the outlook.
Articles
U.S. Bond Intervention and the Fed: What Treasury’s Buybacks Can—and Cannot—Do
Treasury is doubling long-end bond buybacks, but the move is debt-management intervention—not Fed-style quantitative easing. Here is what it can and cannot change.
China’s Offshore Trust Tax: The 20% Rate, Lookback Period and Potential Bill
China’s new offshore-trust tax rules apply a 20% rate, a defined historical lookback and a 90-day transition window. Here is how the taxable amount is calculated.
The Semiconductor Boom Is Real—But It Is Becoming a Two-Speed Market
Record chip sales are being driven disproportionately by AI infrastructure and memory, creating a powerful but uneven industry expansion.
The September Fed Meeting: Three Signals That Will Shape the Rate Decision
The Fed’s September meeting will test whether cooling inflation can offset weaker hiring—and whether a divided committee can agree on the policy path.
U.S. Equities Are Expensive—But Valuation Is a Test, Not a Timer
U.S. equities remain highly valued as strong profits and AI optimism confront higher real yields and an unusually thin equity-risk premium.
Why China May Dominate the Robotics Era—And What Could Stop It
China’s scale in robot production and deployment could create a powerful industrial feedback loop—but software, profitability, safety and geopolitical barriers will decide whether it becomes dominance.
South Korea’s Stock Rally Is Becoming a Test of Market Reform
South Korea’s extraordinary equity rally has raised a harder question: can governance and market-access reforms turn momentum into a durable rerating?
Europe’s Economy Is Growing Again—but the Recovery Is Splitting Apart
Europe’s headline growth has improved, but the gap between stronger domestic-demand economies and a weak industrial core is widening.
China’s AI Leaders Are Building an Industrial Stack—But It Will Be Expensive
China’s AI race is moving beyond models into cloud infrastructure, domestic chips, factory software and robotics. The commercial opportunity is widening, but so are capital and execution risks.