Inflation is considered defeated. What does this mean for the performance of shares in individual sectors? Without new inflation worries, there is nothing to prevent prices from rising further in macroeconomic terms.

There is only one clear message to be taken from the state-ments made by Kamala Harris and Donald Trump: A return to stable US government finances is not in sight.

The sudden sharp rise in the yen has shaken the financial markets. This could have been just an episode, but it doesn't have to be.

The risks to the stability of the financial markets have increased with the interest rate hikes. Investors can only position themselves appropriately for the risky environment.

Central banks act "data-dependent", but they remain stuck in old models. Investors could benefit if they paid more attention to the money supply and its influence on inflation.

The yen is weak, which erodes the purchasing power of Japanese consumers. Yet, the Bank of Japan is facing a dilemma. If it raises interest rates, this strengthens the yen, but threatens a financial crisis.