POLICY Central banks QE

Buyers of Last Resort

“The government footprint in financial markets is the largest we have seen in our careers.”

STOCKS TECH banks

Death by Fintech

We believe Square, Shopify, and PayPal will collectively be worth more than the ten largest US banks combined.

Economy tech banks

Credit crunch: it’s a Silicon Valley thing

Forget the idea that a credit crunch is looming. It’s been here for some time. Look to Silicon Valley.