Meanwhile in markets, echoes of 2018. Remember how markets went bonkers in 2017? Anyone remember the 100-year bond from serial defaulter Argentina issued in 2017? Then came the real yield surge and risk asset plunge…
Using analogies and narratives to push an idea is very convenient. You see, when you have this really nice analogy, readers (hopefully) gloss over any errors, faulty reasoning or blissful ignorance of relevant facts that…
This week’s outlook is neutral. No auction is scheduled for this week and UKAs look like they may be influenced wider markets in holding mode after last week’s dip. Relatively mild weather now should is…
This week we have a neutral outlook. There is some potential for price gains on news last week of reduced French nuclear capacity through 2022, forecast colder weather later in the month, disruptions to natural…
• Meanwhile in markets, ESTR OIS are back to pricing in a panicky U-turn by the ECB while over in Asian we have a lukewarm response to the People’s Bank of China’s surprise rate cut….
Some somewhat belated thoughts on the spike in long end bond yields this year. Given the decline in real yields in the second half of 2021 (green arrow in the chart below), bonds were vulnerable…
