It’s rare to find a piece of writing that EVERYONE in bond markets has read and is talking about, but in January, a blog by Paul Schmelzing on the Bank of England’s excellent Bank Underground site did just that. Paul is a visiting scholar from Harvard University, working at the Bank of England to research foreign exchange policy in the era of Bretton Woods. In the blog however he took a very …Read the article
Guest contributor – Jean-Paul Jaegers, CFA, CQF (Senior Investment Strategist, Prudential Portfolio Management Group)
Recently Jim Leaviss and I travelled to Tokyo to discuss local economic developments and Bank of Japan (BoJ) policy with economists and analysts based in Tokyo.
There was generally broad agreement that the potential path for Japanese government bond yields (JGBs) is asymmetric. …Read the article
What it says above.
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Corporate bond fund managers Stefan Isaacs and Richard Woolnough have just come back from New York, where they spent a couple of days meeting economists and bond market strategists. While they were there, they took the opportunity to film a short video. In it, Stefan and Richard discuss the US bond market, central bank intervention, and the lack of consensus on the outlook for corporate bonds.
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Last weekend we were at the brilliant Kilkenomics festival in Kilkenny, Ireland. Whilst we were there (and it’s a fantastic town) we filmed this short video. In the wake of the Trump election victory there’s a mini-panic going on in Ireland, not least because, in common with Mexico, there are many undocumented Irish in the US whose future has become uncertain. There’s also the huge issue of …Watch the video
Earlier this year we interviewed both Robert Gordon (here) and Martin Ford (here) about their books examining the impact of technology on the modern economy. In the latest of our author interviews I talked to the Economist’s senior editor and economics columnist Ryan Avent about his new book, “The Wealth of Humans”, that develops this same theme. In particular he looks at how we will be able …Read the article
In the second part of the video from our recent New York research trip, M&G’s Richard Woolnough takes a look at three more topics. Firstly, the U.S. labour market is strong and inflationary pressures are building. The Federal Reserve is currently on hold due to external events, but maybe not for long. Secondly, while the lower oil price by and large is beneficial for Western economies, bond val…Read the article
It has been a while since we last uploaded a video from one of our U.S. research trips. Richard and I recently travelled to New York to meet with various local analysts and strategists. The timing of the trip could not have been better: the Federal Reserve needs to decide whether and how to continue its rate hiking cycle and event risk in the economy is high. We had the opportunity to discuss a…Read the article
We did a research trip to Tokyo last month. The main discovery by my colleagues Anjulie Rusius and Anthony Doyle was that I am “annoyingly good at karaoke”. I have to put my hands up to that one. Sadly for you my singing didn’t make it into the official trip report video. Instead we discuss why, counter to popular myth, Japanese policymakers might not want either a) a much weaker yen or b) any …Read the article
I spoke to Adair Turner last week about his new book, “Between Debt and the Devil”. You can see my interview with him below.
Early in 2012, as the UK struggled to escape recession, I asked the question “if the government simply cancelled the £300 bn+ of QE gilts held by the BoE, who would be unhappy?”. Would that have really let an inflation genie out of the bottle? I argued that even if …Read the article