What do you need to know about macroeconomics to interpret financial market volatility?; The time value of money: the key to the valuation of financial markets; The term structure of interest rates and financial markets; How can you forecast the future behaviour of financial markets? the role of the business cycles; Which economic indicators will really move the financial markets?; Consumer expenditure, investment spending, government spending and foreign trade: the big picture; So where does consumer confidence and consumer sentiment help in interpreting financial market volatility?; The global exchange rate system and the euroisation of the currency markets; Why are exchange rates so volatile: the fundamental approach and the asset market approach; How can you predict the direction of US interest rates: what do fed watchers watch?; Derivatives: what do you need to know about them to understand their role in financial markets?; The new economic paradigm: how does it affect the valuation of financial markets?; Bubbleology and financial markets; Bibliography; Statistical tables; Appendix: useful web addresses.