GLOBAL MOVES

The Boiler Is Set From Another Room

The Boiler Is Set From Another Room

The European Central Bank raised its deposit rate a quarter point to 2.5 percent on Thursday, meeting in Berlin rather than Frankfurt, and Christine Lagarde called the decision a no-brainer. It was the second hike since the fighting between the United States and Iran...

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Rushing the Extraction

Rushing the Extraction

Mexico and Washington are racing to a deal before 3 November. A deal negotiated against a clock gets priced by the clock, and both sides know who is holding it.

A Price With a Date On It

A Price With a Date On It

A vessel was struck in the Strait of Hormuz on Saturday. The President says oil will tumble after the midterms. One of those is an event and one is a forecast.

Somebody Else’s Barrel

Somebody Else’s Barrel

Indian equities fell for a fifth straight week on a barrel India does not produce and a rate India does not set. Import dependence is a business model, not a misfortune.

The Hidden Economics of Small Business Marketing

The Hidden Economics of Small Business Marketing

Twenty-one agencies are competing for the American small business. Almost none of them will tell you what they charge. There is a particular silence that falls over a conversation when a small business owner asks a digital agency what it costs. Not a refusal....