Author profile
Ana Gil
Years in the bond markets: 8
Specialist subjects: Economics and inflation
Likes: Tennis, travel, tidiness, sushi
Heroes: Amelia Earhart, Steve Jobs, Rafa Nadal
BVTV: Europe’s turn for positive surprises
The Eurovision song contest may be over for another year, but Europe’s capacity to surprise could well continue. Tune in to the latest edition of BVTV, where Anjulie Rusius joined me to discuss:
- European economic surprises on the rise vs a slowing US
- Bank of England Super Thursday: Dovish message but attempts at a hawkish tone
- How much is the ECB tightening its corporate bond purchase programm…
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This week on Bond Vigilantes TV
In this week’s edition:
- Bond yields and inflation surprises: waking up to reflation?
- A good start to the year in credit markets
- Record supply in US Investment grade credit
Tune in for the charts and articles that are making headlines in bond markets
Watch the video
This week on Bond Vigilantes TV
In this week’s edition:
- OPEC meeting: impact on bond markets and inflation
- EUR vs USD spread differential widening: is value returning to European credit?
- A busy week ahead for Europe: market reaction post-Italian referendum and ECB meeting
Tune in for the charts and articles that are making headlines in bond markets.
Watch the video
SME financing in Europe – not out of the woods yet
In 2013 I blogged about how financing conditions had tightened aggressively for small and medium sized corporates (SMEs) in peripheral Europe. Three years later, we’ve seen the introduction of targeted longer-term refinancing operations, QE, negative deposit rates and other efforts towards creating a financially united, cohesive, European banking union. Now feels like a good time to revisit thi…
Read the articleInflation expectations at lowest level in last three years – M&G YouGov Inflation Expectations Survey Q4 2015
We recently blogged about the marked effect the collapse in commodity prices, particularly oil and energy, have had on global inflation rates across the world. Headline inflation rates in major western economies have been in, or have flirted with, deflation throughout the year in spite of ongoing economic growth and a steady recovery in labour markets.
An interesting issue is whether this, seem…
Read the articleM&G YouGov Inflation Expectations Survey – Q3 2015
One of the key objectives of modern monetary policy is to anchor inflation expectations, because managing inflation expectations is the first step to managing inflation.
The extent to which inflation expectations are anchored can have direct implications for the performance of inflation and the broader economy.
Where inflation expectations are not very well anchored, falling (or rising) inflati…
Read the articleM&G Panoramic Outlook: The Case for Global Corporate Bond Investing
The euro’s 12-year low against the dollar is a mixed blessing for US companies. On the one hand, the US manufacturing sector is suffering from an uncompetitive currency and lower export revenues. But on the other, rock bottom European interest rates have given US companies an attractive opportunity to issue bonds denominated in euros and lock in cheap financing. For example, in the first quarte…
Read the articleThe M&G YouGov Inflation Expectations Survey – Q4 2014
Today we launch the next edition of M&G YouGov Inflation Expectations Survey which polled over 8,200 consumers across the UK, Europe and Asia.
The Q4 report reveals that consumers’ short-term inflation expectations continue to moderate across most regions, although they remain well above current inflation levels. Long-term expectations remain resilient despite this year’s low inflation environm…
Read the articleTwo devils in the US inflation detail
US inflation has been surprisingly low for a few months after a peak in May 2014. According to the latest data released in September, core CPI (i.e. excluding food & energy) stands at just 1.7% with much of this weakness caused by declining goods prices. According to the US Bureau of Labor Statistics (BLS) the average price of imports, excluding fuel, has not increased in six months. A stronger…
Read the articleThe M&G YouGov Inflation Expectations Survey – Q3 2014
The results of the August 2014 M&G YouGov Inflation Expectations Survey suggest that inflation expectations have moderated across the UK, most European countries and Asia. Short-term inflation expectations in the UK have fallen from 2.3% to 2.2% after an upwards bounce in the May survey. However, over a five year period, expectations remain unchanged at 3.0% for the 7th consecutive quarter. UK …
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