Featured post

‘Yield beta’ – perhaps the most important consideration if you own any inflation-linked bonds

26th January 2018

  Many investors have exposure to inflation-linked bonds, whether it’s within a diversified fixed income portfolio or a multi asset portfolio. The difficulty is that inflation-linked bonds and conventional bonds behave differently. Inflation-linked bonds provide you with a real yield, whereas conventional bonds... Continue reading

Graphic Content – January; underlying fragility of the US corporate sector

17th January 2018

As we’ve mentioned in recent months, total risk premia on US corporate bonds is at its lowest level ever. Meanwhile, the debt that... Continue reading

Graphic Content – December; UK wage growth is about to surge

5th December 2017

As in many countries, wage growth in the UK has been missing in action, even as the unemployment rate has fallen to a... Continue reading

Graphic Content – November; corporate bond risk premia are now the lowest ever

28th November 2017

Risk premia on a corporate bond can be broken down into two component parts. The first is the term premium, which relates to... Continue reading

Bernanke’s latest monetary policy framework isn’t novel – it’s 90 years old

25th October 2017

Recently Ben Bernanke proposed a new framework for inflation targeting and monetary policy setting when interest rates are at the zero-lower bound (ZLB),... Continue reading

The Bank of England prepares for a historic hike – is it jumping the gun?

24th October 2017

November 2, 2017 may go down as a historic day: it could be the first time in 3,773 days that the Bank of... Continue reading

Graphic Content – October: Explaining strong Eurozone growth?

19th October 2017

Last month I mentioned how a cyclical recovery in China over the past few months was driving commodities higher, and could do the... Continue reading