James Mackintosh

Boom-bust cycles now happen in the blink of an eye. The memory-chip bubble inflated and popped, complete with wild volatility and an imploding hedge fund , in just four months.

The way it’s being done should make us worry that the Federal Reserve is being roped into ease monetary conditions.

The joint U.S.-Japan support of the yen is unusual . The way it is being financed is unprecedented, and adds liquidity when the punch bowl of the U.S. economy and markets is already overflowing.

Resilient economic growth in the U.K. in the second quarter adds support for the Bank of England to raise rates to combat inflation, its chief economist said. Huw Pill has been calling for higher rates but been outvoted by a majority on the central bank’s monetary policy committee who wanted to kee

By becoming market makers of last resort, policymakers are pumping up leverage and risk.

Central banks may be accidentally subsidizing government borrowing through their efforts to prevent a repeat of past market blowups, and policymakers

The simple explanation for all this is that the world is going into a new era of capital need, for data centers, the military and reshoring.

Scott Bessent got bang for his buck on Wednesday. The decision to double to $4 billion the size of buybacks of the longest-dated bonds led the

There’s a nasty combination of three trends leading to higher bond sales: government deficits, the artificial-intelligence boom and geopolitics. Read more in my latest Streetwise column on how Tre

Scott Bessent got bang for his buck yesterday. But he's fiddling around the edges. Long-dated yields have been climbing amid a toxic mix of fiscal profligacy, a capital spending boom for the ages in artificial intelligence and geopolitical pressures. My [column explains](https://www.wsj/finance