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Read our latest thoughts on Estate Planning, Trust Services and Asset Management.

Macro 2/9/2024

Contagion Effect: Banks Choking on Their Commercial Real Estate Exposure

The commercial real estate market's fragility threatens smaller banks, as shown by NYCB's drastic stock plunge due to Q4-2023 losses. Banks shift ...

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Macro 2/5/2024

“On Borrowed Time?”: Taking A Closer Look at The U.S. Consumer

The U.S. consumer, a key economic driver, displays resilience amid volatility. However, growing concerns arise as recency bias may mask underlying ...

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Macro 1/26/2024

The Commercial Real Estate Crunch: Are Small Banks Sitting on a Ticking Time Bomb?

U.S. banks face a ticking time bomb in commercial real estate, with smaller banks sitting on a pile of souring loans. This market stress is driven ...

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Macro 1/25/2024

The Great Wall of Worry: Is China on the Brink of a Balance Sheet Recession?

China's economy faces challenges: anemic consumer demand, soaring debt, deflation, eroding private business investment, and high youth unemployment...

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Macro 1/19/2024

Banking Fragility Unveiled? Separating Fact from Fiction in Financial Systems

Skepticism persists about the banking system. Challenges include misconceptions about banking and the impact of interest rates on lending. With len...

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Macro 1/12/2024

“Carmageddon”: Is The Auto Market Looking Fragile? I Believe So

The auto market is showing signs of stress. As delinquencies rise, negative equity surges, and loan demand drops, consumers face increasing fragili...

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Macro 1/5/2024

‘Corporate Cannibalism’: How Monopoly Powers And Corporate Concentration Are Helping Widen Inequality

The article covers how corporate concentration since the 1980s. Factors like increased M&A, lax antitrust enforcement and lobbying by big firms hav...

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Macro 12/29/2023

My Top Three Q4 'Morning Pours' With Must-See Updates

A special wrap-up for 2023 - reflect on insightful editions highlighting OPEC dilemmas, BRICS currency challenges, and market insights from Minsky ...

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Macro 12/15/2023

From Stability to Instability: What We Can Learn From Minsky And Soros About Markets

Markets don't move in stability but thrive in flux. Minsky's Financial Instability Hypothesis and Soros's Theory of Reflexivity unveil the dance of...

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Macro 12/8/2023

The U.S. Dollar: An Exorbitant Privilege? More Like An Exorbitant Burden – Here’s Why

Global anxiety brews over the potential for a declining U.S. dollar. Triffin's Dilemma unveils a paradox: a reserve currency requires deficits, bu...

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Macro 12/5/2023

Beyond the Discounts: Black Friday Sales, BNPL, And The Shadow of Debt

Black Friday in 2023 saw record nominal sales but masked a deeper tale: the softest annualized growth in Black Friday sales in six years, surging c...

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