Here’s an update of my favourite long term measure of bond market valuations. I’ve been updating this chart on the blog over the years, and if you’d bought and sold US Treasury bonds when they diverged significantly from the range implied by the Fed’s long term rate expectations, you would have done OK.
So what does my favourite chart show? I’ve shown the 10 year US Treasury bond yie… Read the article
Last week, Sky’s Ed Conway came in to talk about his brilliant book “The Summit”, the story behind the Bretton Woods conference that tried to organise the structure of the global economy in the aftermath of the Second World War, and enshrined the dominance of the US dollar as the world’s currency.
The conference took place as the war was still raging, both in Europe in the weeks after D-Day, a… Read the article