Developed Markets

Fiscal Stimu-less?


Global markets don’t need a surge of government spending to rise.

Brexit Boo-Hooing Seems Like a Bust


More than two months after Brexit, the British economy marches on.

Manufacturers Made Some Stuff in July


Global manufacturing seems to be picking up.

Think Global, Invest Global


Despite recent US outperformance, a global strategy still provides many benefits.

Life After Brexit: The UK Economy


While Brexit talks might hang over sentiment, the UK's economic fundamentals remain strong.

Britain Has Spoken


The vote for "Brexit" rocked markets, but markets should ultimately prove resilient.

To Markets, the Brexit Vote Is Largely Over


While question marks remain, markets have already dealt with most of the uncertainty over June 23’s vote.

The Global Economy Is Growing at Now, Now


May’s data show a blooming world economy. 

Government or No, Watch Spain Grow


Spain’s government takes a siesta, but the economy keeps on working.

Strong Services Sustain Britain


Another UK GDP report, another round of worrying about the allegedly unbalanced UK economy.

Inside George Osborne’s Red Briefcase


The red briefcase wasn’t the only symbolism in Britain’s budget.

Growth Makes the World Go Round


The global economy is in better shape than most folks think.

Brexit Referendum Countdown Begins


The referendum is on the calendar, but Brexit talk is still mostly noise as far as markets are concerned.

Japan Staggers Back Into Contraction


Japan’s economic struggles aren’t surprising.

Japan: Rising Sun or False Dawn?


Rekindled optimism over Japanese stocks seems premature.

Greece Is the Word, Not the World


In the 99.8% of global GDP that isn’t Greece, evidence suggests economic expansion continues.

The ECB Would Gladly Pay You Tuesday for a Hamburger Today


Will the ECB find enough bonds to meet its quantitative easing targets?

The Eurozone’s Underappreciated Improvement


The eurozone economy has several little-noticed positives.

Economic Growth Seems Plenty Durable


Do recent US and UK economic data show weakening growth?  

Now What?


Did economic reform in Japan just become more likely?

About That Manufacturing ‘Slowdown’


The latest factory surveys have folks chattering about a global manufacturing slowdown, but even if they’re right, stocks are pretty good at dealing with these things.

The Mythical Third Arrow


Will Prime Minister Shinzo Abe ever get around to firing that “third arrow”?  

Meanwhile, Outside of Ukraine…


While the world focused on the Ukraine and other political happenings globally, free trade talks took a step back.

Tracking the Third Arrow


While Japanese policymakers and headlines debate a forthcoming sales tax increase, Abenomics’ Third Arrow has seemingly gone by the wayside.

One Quadrillion and Counting


What should investors make of the news Japan’s gross public debt passed one quadrillion yen in Q2?  

Land of the Setting Sun?


Japanese stocks’ sharp advance seems to have hit a rough patch.

A Big Surprise


Global stocks are up nicely in 2013, but the year could still have big returns ahead.

Double Secret British Probation


It’s the UK’s turn to release opaque results from their round of bank stress tests.

Words About Spain and Banks and Stuff


While focus has been on Cyprus in recent weeks, some banking developments are underway in Spain.

Britain’s Bifurcated Budget


Recent fiscal moves in the UK have been muddled, at best—contributing to banks’ continuing unwillingness to lend and the country’s still sluggish economy.

The Eurozone News Blues


Overall global growth continues despite ongoing reports of eurozone weakness.

Greek Privatization Physics


Seems like more of the same from Greece’s slow-moving and overpromising privatization agency.  

Youkoso, Kuroda-san?


Word has leaked Japanese Prime Minister plans to nominate Asian Development Bank chief Haruhiko Kuroda to steer the Bank of Japan. What can we expect from the likely new chief?

Ireland Schools France


In its quest for a cheaper euro, maybe France should consider one of its euro neighbors.

Checking in on Spain


With economic competitiveness improving and sovereign yields staying manageable, Spain’s decision to reject a bailout seems to be working out ok so far.

Shinzo Abe’s Unstimulating Stimulus


Japan’s new $117 billion stimulus package may provide a short-term boost, but it doesn’t address Japan’s long-running economic issues.

The Other Fightin’ Irish


Ireland is getting ever-closer to returning to debt markets—setting it up for a potentially satisfying 2013-2014 season.

Do You Hear the People Sing?


Thanks to France’s Constitutional Council, incomes over €1 million won’t be taxed at 75% in 2013, but President François Hollande may try again for 2014.

Gambatte Ne, Abe-san


Japan’s new prime minister pledged to end his nation’s long-running economic funk, but his planned fiscal and monetary stimulus likely won’t combat Japan’s deep structural issues.

Report from the European Trenches


The European Union appointed a banks regulator and the UK approved fracking.

Austerity in the UK?


No matter the political hubbub that follows, Britain’s 2013 budget plans clearly show austerity is still a misnomer, at least in the UK.

Underappreciated Thursday


Signs of underappreciated positives in the US and Europe.

Moody’s Muddled French Markets


Economic reality doesn’t seem to have influenced Moody’s downgrade of France as much as political pressures likely did.

Greece Is the Word


The latest on Greece’s aid negotiations.

A Look Around the Eurozone


While the US hunkered down for Hurricane Sandy, Europe was plenty busy.

‘Doing Business’ With the World Bank


The World Bank’s 2013 “Doing Business” report shows how some nations have—and haven’t—improved competitiveness over the past year.

Alba Gu Bràth!


Scotland got clearance to hold a referendum on independence in two years. What does this mean for Scotland and the UK?

This One Goes to 11


Eleven eurozone nations agreed to pursue a financial transactions tax—a misguided endeavor, in our view.

Europe’s One-Stop Shopping


The European Commission proposed steps aimed at tightening the EU’s single market integration Wednesday—steps which, if successfully implemented, would likely do much economic good there.

The Brits’ Bureaucratic Business Banking Boost?


The UK announced plans to create a state-backed development bank—a rather odd way to help boost lending, prompted by a rather odd bit of political theater.

Predictable Politicking


The latest on Greek budget negotiations and Germany’s upcoming court ruling on the ESM.



The ECB announced new measures to protect the euro Thursday, which likely buy the monetary union more time—but still aren’t a silver bullet.

September to Remember?


Neither market history nor current events should give investors an automatic reason to fear September.

Homage to Catalonia


Catalonia’s bailout request provides a window to Spain’s fascinating history.

Ich Will Europa


During the latest critical week for the euro, Angela Merkel makes a video and the Greek bailout renegotiations heat up.

P Is for Politicking, Progress and Portugal


As Greece continues politicking over economic reform, Portugal demonstrates the benefits of getting more competitive.

Aphorism Tuesday


Eurozone news dominated headlines again Tuesday. Here are the stories that caught our eye.

Spain, Spain, Spain


Valencia became the first Spanish region to seek help from a new bailout fund—but, contrary to wide belief, it’s not the first region to get state help this year.

The Fighting Irish


Ireland held its first debt auction in nearly two years Thursday—a significant step toward its return to primary markets.

Nineteenth Time’s the Charm?


What NOT to expect at this week’s not-so-make-or-break EU summit.



All the latest on the Greek and French elections.

Staying Euro


A brief update on Spanish debt and Greek elections.

Here Come the Men in Black?


The skinny on Spain’s bank rescue agreement.

Midweek Mash-up: Chinese Monetary Moves, Greek Griping and Australian Growth


A roundup of news Wednesday that caught our eyes.

A Spanish-German Compromise?


As Spain and Germany debate how to support Spanish banks, there are signs a compromise is in the offing.

Fisher Investments View: The Greek Jitterbug


Markets were jittery again Wednesday tied likely to Greek news—even though it wasn’t particularly new news.

Just You Wait, Henry Higgins


Rising yields and mounting banking problems aren’t great for Spain, but a few key facts should help mitigate their impact.

Pulling the Eurozone’s Strings


Surprisingly positive global economic news supports ongoing growth.

North and South


The eurozone avoided recession (by one traditional definition) in Q1, giving leaders plenty to ponder as they weigh a new EU growth pact.

Grexit Strategy?


In the wake of last week’s parliamentary election, Greek politics are getting a bit more bizarre.

German(e) Data


Germany’s quietly notched some solid economic data lately—possibly hinting some at the eurozone’s and Europe’s likely course ahead.

Europe the Morning After


A look at the French and Greek election results.

The EU’s Great Growth Debate


As Spain officially re-enters recession, EU leaders debate how to stoke growth.

Crossing the Pyrenees


Demand was strong at Spanish and French debt auctions despite jitters over Spain’s borrowing costs and France’s election.

British Pop


Recent data show plenty of pop in the British economy.  

Japan, One Year Later


One year after the Great Tohoku earthquake and tsunami, the Japanese economy is displaying its resilience.

The Great Greek Swap Meet


An in-depth look at Greece’s ongoing private-sector debt restructuring.

Leaping to Conclusions


Investors should beware allowing popular misconceptions and common media assessments to blindside them when it comes to assessing the economy’s and markets’ overall status.

A Spanish Sangria of Updates


Recent Spanish bond auctions show ample coverage and sustainable yields. Looking ahead, because of persistently dour expectations, even mild positives should be a nice tailwind for stocks.

Tick Tock Goes the Clock


Greek debt talks are down to the wire. But what does that mean?

These PIIGS Went to Market


A look at falling Italian and Spanish debt yields.

A European Spectacle


At EU leaders’ first 2012 summit, officials jousted over Greek funding and the new fiscal compact.

Eurozone Resilience


Recent data seemingly speak to a more resilient eurozone economy than many appreciate.

Dancing About Europe


A survey of the eurozone’s latest.

Weighing Italy’s Debt


An alternate perspective of Italy’s debt costs shows today’s levels are low by historical standards.

The Battle of the (Budget) Bulge


The EU summit came to a close on Friday. And what emerged was another demonstration of the will to back the euro.

Lowering the Euro Curve


Measures enacted by the ECB Thursday are far from a cure-all to fix the eurozone’s copious issues—but they do represent incremental steps to add liquidity at a time when it’s perceived to be much needed.

Differentiate Before You Downgrade


S&P placed 15 eurozone countries and the EFSF on credit watch negative Monday—but that ignores significant variety among European countries, in our view.

Technoplans From Italy’s Technocrats


Italian Prime Minister Mario Monti announced tough new austerity measures and 10-year yields fell below 6%.

Much Ado About Nothing New


Although investor angst over Europe remains high, market volatility on Thursday was driven more by fears than any new or surprising developments.

Taxation and Competitiveness 101


Tobin Tax rhetoric heated up between Germany and Britain Wednesday—a debate that’s a bit of a head-scratcher, in our view.

Transatlantic Economics Tuesday


In economic news Tuesday, eurozone GDP grew modestly, US wholesale inflation was tame and US retail sales grew again.

Molto Mario?


A look at what’s in store for Italy’s new Prime Minister, Mario Monti.

Midweek Mash-up


Euro politics dominated headlines again Tuesday, but eurozone musical chairs wasn’t the only story. Here’s a look at what news caught our eye.

Mediterranean Musical Chairs


The latest on Greece and Italy.

Don’t Bank on the Big Bang


Germany tempered the world’s expectations for an overnight eurozone fix, keeping with the gradual approach we’ve seen thus far.

Planfully Planning a Plan


Nicolas Sarkozy and Angela Merkel have a plan to keep the eurozone intact, but they won’t share it until month’s end. 

What Matters in Greek Chatter?


We survey the latest Greek headlines and sift between those stories with substance…and those without.

Eyeing Ireland


Ireland and Greece were both bailed out in 2010. But the similarities don’t go much further than that.

From Whispers to Murmurs


Amid heightened rumors of a Greek debt default, a look at Monday’s flurry of Greece-centric headlines.

Politicking and Progress in Europe


While debate over EFSF changes continues, Greece appears to be making some small headway.

Resetting Expectations


There are two ways to think about recent market negativity—forward or backward. Let’s consider both.

Volatility, Continued


Stocks seesawed wildly Tuesday, finishing the day solidly in the black.

After the Downgrade


Global markets experienced a sell-off Monday, as investors contended with S&P’s US credit rating downgrade and the ECB’s Spanish and Italian debt purchase plans.

Corrective Action


Understanding and separating the negatives from the positive realities can help guide your investing decisions.

Fisher Investments Outlook: The Plot Thinnens?


The plot surrounding eurozone debt issues continues to unfold—but are things becoming more complex or less?

Catching Wild Pitchers


Moody’s downgraded Portugal Tuesday—but that’s not a huge surprise. Overall, Europe’s indicated they have the means and the desire to backstop struggling eurozone countries.

Spend and Trade


Though positive global developments are getting short shrift, they do exist today.

As the World Changes (Or Not)


The world isn’t likely to get any less globalized, so shift your investment focus to global first and local second.

PIIGS Political Posturing


Negotiations over Greece’s bailout took three steps forward on Friday —but two steps back on Monday.

One Lord to Rule Them All


It seems no one is happy about the pace of anyone else’s financial regulation—the EU thinks the US is too slow and vice versa.

On Economic Calls and Data


The OECD’s biannual report Wednesday indicated global recovery’s on track, though threats remain. What should investors take from such forecasts?

A Bump in the Road


Individual countries may hit economic bumps in the road to recovery, but on the whole that shouldn’t stop the positive forces propelling the global economy forward.

Greek Theater


The PIIGS spotlight swings back to Greece amid talks of Greek debt restructuring.

Level 7, by Label Only


The Fukushima nuclear accident was upgraded to level 7—on par with Chernobyl—but that’s likely where the similarities end.

Eurozone Power Plays


Recent local elections suggest gridlock is taking hold in Europe.



Lost amid the headlines, eurozone officials made positive strides in overhauling bailout fund terms—but there’s still plenty of work to do.

What Portugal Portends


European banking and debt woes are a ways off from a more permanent resolution, and as politicians work on refining one, transparency and clarity are advisable.

Greek Prologue


Greece’s credit rating took another hit Monday—but what’s really news is what’s happening in the rest of the eurozone.

When 777.7% Doesn’t Equal Growth


Japanese protectionism plays a large role in the country's economic malaise. But reforms—including greater openness and free trade—could help buoy economic growth.

Vaguely Inconclusive


The EU held an economic summit last week—but concrete results were lacking, with dissent across the board.

Iberian-Induced Anxiety

Despite successful auctions by Portugal and Europe's periphery, sovereign debt fears remain. However, the worst-case scenario—a disorderly EMU breakup—remains unlikely in 2011.

On an Up Note

2010 looks to have ended on an economic up note.

Pain in Spain, But Gains in US

PIIGS fears remain in headlines, but US economic data are encouraging.

Astonishingly Average


The eurozone is on track to post an average year of economic growth.

Revealing a Non-Secret

Little attention seems to be paid to expanding manufacturing activity globally—and that could be good news for investors.

The (Un)Luck of the Irish

In the aftermath of a larger-than-average decline in recession, Irish debt woes have compounded a difficult economic situation on the Emerald Isle—but help is there if needed. 

No Pain, No Gain for Ye Olde Brits?

Will big British spending cuts bring down its public deficit without bringing down the economy?


Japan intervened in currency markets to help its exporters—but will intervention have the desired results?


Cheers to fast German economic growth washing down fears of a European-driven double dip.

Releasing Less Stress

Step off the treadmill and remove the EKG—the stress test is over.

Dear Prudence

Though austerity has its risks, a balanced perspective shows the measures taken could have long-term benefits.

A Chicken Little Sort of Day?

Is the sky really falling, or are other forces playing a role in stocks' recent pullback?

We’re Not Out of the PIIGS Pen, Yet

Though Greece continues to rattle, market jitters over PIIGS could be short-lived.

We’re Okay, Euro Okay

German industrial activity shows not all is bleak in the eurozone.

Dear Chancellor

The BoE has some explaining to do, but inflation is not a global worry yet.

C’est Un Bazooka

The EU unleashed a bazooka-sized rescue package on Sunday.

A Tale of Two Bonds

Recent US-dollar bond offerings by Russia and Greece illustrate the uneven nature of economic recovery.

Timing (Isn’t) Everything

Global markets seem to be back on track after the early 2010 pullback. But expect volatility ahead—it's only normal.


The European economy overall continues to show signs of recovery.

A Race We All Win

It's easy to think the developed nations make the world go round—but don't discount the up-and-comers.

Yields Signs

The US yield curve steepened to its biggest spread in decades last week—bullish for economic growth.

Jobs Report, Sarbox, and Japan Post

The world is full of rotating characters, and some acts have more power to move markets than others.

The Talented Mr. Van Rompuy

Besides a talent for haikus, what will the new EU president bring to the table?

Paying for the Bailouts

The financial crisis appears to be over, but thanks to onerous regulations and political scrutiny, Financials' woes aren't.

Not Just Debt Weight

Worried about today's high government debt? History shows we're still well within manageable levels.

Here Come the Irish!

Irish voters overwhelmingly approved the Lisbon Treaty—after saying "no” to the treaty last year.

What’s Brewing in Germany

The German parliament is set to shift toward a business-friendly, center-right majority. But the status quo, not significant change, is probably what's brewing.

Chip, Chip, Hooray

Global semiconductor sales climbed for the fifth month in a row—a confirmation of Tech's stock outperformance so far this year.

Sayonara, LDP?

If current polls are correct, Japan may soon be saying sayonara to its long-ruling Liberal Democratic Party.

Reading Rainbows

Positive manufacturing readings across the globe are welcome signs.

Small Potatoes

The UK risks losing its AAA sovereign credit rating due to rising public debt, but worrying over credit ratings is small potatoes next to righting the economy.

Eastern European Finger Trap

Pressure is tightening on Western European banks as investors pull capital out of Eastern Europe.

Hop, Skip, and Jump

What's the right pace for monetary stimulus? The answer is not yet certain, though it's likely a severe financial crisis needs an aggressive response.

Easing Goes It

Tight credit conditions have eased lately—a little-noticed fact.

Fighting the Financial Crisis

Central banks and governments around the world have taken up the call to arms.

An Uncertain Panic

Markets proved volatile as governments around the world took action

A Midsummer Night’s Dream

The annual Group of Eight summit will likely amount to little more than illusions.

The Industrials Evolution

Industrials are among the unsung heroes of today's global economy.

Outback Ouster

Australia's new leader, Kevin Rudd, talks a big game of change and reform, but when the political dust settles, expect the status quo.

A Government Sponsored Bank Run?

In a bizarre twist of irony, the British government exacerbated credit problems by blocking a merger between banks earlier this year. The episode underscores both the perils of government intervention and the gross misunderstanding of today's so-called "credit crunch.”

Hail to the Tax Cuts

Big proposed tax changes and political turmoil in Britain may turn out to be a tempest in a teapot. A simpler tax system may be in the cards for Britain, but British politicians have a long time to foul up positive proposals.

Britain Rocked

Troubled British lender Northern Rock isn't evidence of systemic woes in Britain or elsewhere.

Is the LDP DOA?

Japan's ruling Liberal Democratic Party suffered a stunning defeat in the upper house election on Sunday, giving up control in the chamber to the opposition Democratic Party of Japan. What does it mean for global stocks?

Abe on the Outs?

Political turmoil returns to the world's second largest economy.

Going Postal

SAT analogy question pop quiz: Postal Service is to Japan as _________ is to the United States.

Japanese Businesses (Finally) Pay the Taxman

The Japanese government is going to have a fat wallet.


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