2025 has put the dollar under a spotlight: a deficit >6% of GDP, debt >100% of GDP, debt service north of $1T a year, and inflation stuck around ~3%. Against that backdrop, two clear...
Fed/EZB Setup: Soft Fed, Cautious ECB The Fed cut –25 bps and hinted at additional reductions in 2025. The ECB is on a “cautious pause.” Global funds are buying U.S. assets while hedging USD...