At the start of July, both German bond yields and the euro were moving higher. But in August they have diverged, with bond yields off the boil but the euro maintaining its poise. The answer to the conundrum may lie outside the eurozone.
The Jackson Hole gathering of central bankers has been an opportunity for policy makers to pledge extraordinary support for economies, in particular via quantitative easing. But this year looks different.
It might seem like the most basic retail maxim, but the second-quarter drilled it home for investors: low prices matter. The only winners in an otherwise bleak retail landscape were the ones offering the lowest ones.
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