The last few weeks have once again shown that Spain is different. The at-times conservative party (Partido Popular, or PP) obtained its first outright majority in the regional parliament of Andalusia. The Socialist Party obtained its worst result ever in … Continue reading →

The Financial Consequences of Higher Rates Measuring rates of change is the key to the analysis of many problems. The scale and pace of change of discount rates for equities that we have observed in just a few weeks is … Continue reading →