http://www.ft.com/comment/columnists/philipcogganhttp://www.ft.com/rss/comment/columnist/philipcogganFT.com - Philip Cogganen© Copyright The Financial Times Ltd 2009. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.client.support@ft.com (Client Support)Thu, 31 Aug 2006 18:48:37 +0100Thu, 26 Nov 2009 05:21:49 +0000Newspapers60http://news.ft.com/cms/d1f3ce1a-6bbe-11da-bb53-0000779e2340.gifhttp://www.ft.com/comment/columnists/philipcoggan(PICS-1.1 "http://www.classify.org/safesurf/" L gen true for "http://www.ft.com/" r (SS~~000 1))http://traxfer.ft.com/cms/s/0/75980952-3917-11db-a21d-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/75980952-3917-11db-a21d-0000779e2340.htmlWho would be a financial pundit? Investors could take their pick from a welter of economic statistics and use them to justify any number of views on asset prices, writes Philip Coggan.Thu, 31 Aug 2006 18:48:37 +0100http://traxfer.ft.com/cms/s/1/f72e4ff8-379b-11db-bc01-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/1/f72e4ff8-379b-11db-bc01-0000779e2340.htmlTraders creeping back to their desks after the summer will find the mood of the markets has changed significantly. Producer and consumer price data in the US have calmed the widespread worries about accelerating inflation, writes Philip Coggan.Tue, 29 Aug 2006 21:32:39 +0100http://traxfer.ft.com/cms/s/1/103b63e4-3848-11db-ae2c-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/1/103b63e4-3848-11db-ae2c-0000779e2340.htmlIt does not normally take long, after rates appear to have peaked, for economists to start speculating over when the first cut will occur. Goldman Sachs waited only a week after the Fed's last meeting before saying US rates would have to fall by 125 basis points next year, writes Phillip Coggan.Wed, 30 Aug 2006 18:07:07 +0100http://traxfer.ft.com/cms/s/0/fba3de54-2954-11db-9dcc-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/fba3de54-2954-11db-9dcc-0000779e2340.htmlA stock market is made up of humans interacting; their perceptions (and the way they act upon them) change the conditions, which makes it extremely difficult to predict financial markets.Fri, 11 Aug 2006 17:10:52 +0100http://traxfer.ft.com/cms/s/0/370afe60-27ce-11db-b25c-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/370afe60-27ce-11db-b25c-0000779e2340.htmlWhat should investors make of the Fed's latest decision, asks Philip Coggan. Equities rose on the news, only to fall subsequently; the dollar fell, only to rise. Treasury bond yields moved modestly higher.Wed, 9 Aug 2006 19:09:09 +0100http://traxfer.ft.com/cms/s/0/cb1eb22c-2701-11db-80ba-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/cb1eb22c-2701-11db-80ba-0000779e2340.htmlThe prime driver in commodity investment has been the spectacular rise in raw material prices. But another factor is that institutional investors should be diversifying, writes Philip Coggan.Tue, 8 Aug 2006 18:47:43 +0100http://traxfer.ft.com/cms/s/1/d00c22e0-264a-11db-afa1-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/1/d00c22e0-264a-11db-afa1-0000779e2340.htmlFew would have predicted that the price of crude would be hitting $78 a barrel by this stage of the year. But there have not been many occasions when oil has been seen as the driving force for moves in other asset markets.Mon, 7 Aug 2006 20:48:15 +0100http://traxfer.ft.com/cms/s/0/6e781668-2313-11db-848d-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/6e781668-2313-11db-848d-0000779e2340.htmlCentral banks are not so much taking away the punch bowl from the party as handing guests their coats and holding the door open for them to leave, writes Philip Coggan.Thu, 3 Aug 2006 18:34:15 +0100http://traxfer.ft.com/cms/s/0/41cc7d82-15b9-11db-9950-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/41cc7d82-15b9-11db-9950-0000779e2340.htmlA rising tide raises all boats. But in the markets, a wave can also swamp all the boats. This phenomenon appears to have been at work in the emerging markets in recent weeks, writes John Authers.Mon, 17 Jul 2006 18:34:21 +0100http://traxfer.ft.com/cms/s/0/cc940b42-224d-11db-bc00-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/cc940b42-224d-11db-bc00-0000779e2340.htmlFinancial markets may have suffered in the correction that began in early May, but the worst now appears to be over, writes Philip Coggan.Wed, 2 Aug 2006 18:52:38 +0100http://traxfer.ft.com/cms/s/0/a39f0d58-2186-11db-b650-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/a39f0d58-2186-11db-b650-0000779e2340.htmlThose hoping that Tuesday's UK purchasing managers' index would provide a clear indicator as to Wednesday's interest rate decision were disappointed, writes Philip Coggan.Tue, 1 Aug 2006 19:07:58 +0100http://traxfer.ft.com/cms/s/0/c7c8aff0-20b3-11db-8b3e-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/c7c8aff0-20b3-11db-8b3e-0000779e2340.htmlEvery day equity markets face a good news/bad news test that tells observers a lot about investor sentiment. Philip Coggan asks, is news that is bad for the economy taken as good for equities, or as negative for corporate profits?Mon, 31 Jul 2006 17:58:30 +0100http://traxfer.ft.com/cms/s/1/03e6d408-1e4d-11db-9877-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/1/03e6d408-1e4d-11db-9877-0000779e2340.htmlIt has been a great time to be a capitalist. All around the world, profits have been rising as a percentage of gross domestic product.Fri, 28 Jul 2006 16:41:22 +0100http://traxfer.ft.com/cms/s/0/12005060-1d93-11db-bf06-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/12005060-1d93-11db-bf06-0000779e2340.htmlIt is almost a decade since Albert Edwards, the Dresdner Kleinwort strategist, first predicted a sharp fall in US stocks. His latest forecast is that the Dow could fall 40 per cent, writes Philip Coggan. Thu, 27 Jul 2006 18:28:23 +0100http://traxfer.ft.com/cms/s/0/3521e0b4-1cca-11db-9780-0000779e2340.html?o=%2Frss%2Fcomment%2Fcolumnist%2Fphilipcogganhttp://www.ft.com/cms/s/0/3521e0b4-1cca-11db-9780-0000779e2340.htmlThe fall in the Ifo index of German business sentiment can hardly have come as a surprise. For several months, economists have been puzzled as to why the survey had been outstripping the level of output growth, writes Philip Coggan.Wed, 26 Jul 2006 18:33:03 +0100